The looming recession in the developed regions, Europe and North America has directed the market players to consider Asian countries for their requirements of several key commodities, including Titanium Dioxide. The uptick in demand in the APAC region, coupled with uncertainties brought on by high inflation in the overseas market, resulted in an upsurge in the quotations for Titanium Dioxide for the end-use industries.

In India, one of the leading market players, Indio Paints, has reported that its net profit jumped 173.8% to $4.47 million in Q3 of 2022, despite the extended monsoon season. The sharp tick in profit metrics has supported the manufacturing firms in offsetting the increasing costs of raw materials. Furthermore, the price movements in crude oil have an undeviating impact on the input costs for Titanium Dioxide among the manufacturers. The ChemAnalyst database has demonstrated that the price realizations of Titanium Dioxide have remained buoyant entering November and witnessed an escalation of approximately 2.5% in the week ending 4th November 2022. On the upstream front, the world’s fastest-growing economy, India, has enormous energy requirements and is focused on involving the private sector in coal production to minimize reliance on imported coal.

Furthermore, the price of Titanium Dioxide has stabilized in China this week. The strict Covid containment approach in the domestic region and the dropping crude oil prices have subdued the market sentiments for Titanium Dioxide. The infected cases have been climbing in China and will result in more precautionary measures, pressuring the demand outlook for Titanium Dioxide. Moreover, exports from China have also been slowing down amid the dampened inquiries from the international market.

As per ChemAnalyst, the increasing COVID cases in China will prompt a potential downside risk to the market growth of Titanium Dioxide in China. On the other hand, the Adani Group in India has been planning to mark its entrance into the mining industry, boosting the availability of Titanium Dioxide in the domestic region. Thus, the price dynamics of Titanium Dioxide are projected to go northward in the APAC region in the forthcoming weeks.