China's Titanium Dioxide Exports Set to Hit a Record High Despite Domestic Challenges

According to incomplete statistics, over ten titanium dioxide (TiO₂) manufacturers in China are currently either reducing production or halting operations. Companies like Guangxi Jinlong and Wuzhou Jiayuan have completely suspended operations for maintenance and have yet to resume production. The oversupply of titanium dioxide in 2024 has become increasingly apparent, leading to continued price declines. In November, the average monthly market price of rutile-type TiO₂ dropped by 400 RMB/ton compared to October.

From the maintenance schedules of Chinese TiO₂ manufacturers, three companies are expected to resume production between late November and December, while four others have yet to determine their restart dates. This may result in increased supply in December. At present, most manufacturers are operating near the breakeven point, with a few even experiencing minor losses. Given this scenario, titanium dioxide prices are likely to remain under pressure.

This year, downstream demand for industries such as coatings has been sluggish, exacerbating the market's supply-demand imbalance due to increased production. Furthermore, export restrictions, including anti-dumping measures, have added external challenges. With weakened domestic and international demand, the titanium dioxide market faces significant pressure.

Despite these headwinds, China's titanium dioxide exports have reached new heights. Data from China Customs shows that in October 2024, the country exported approximately 154,300 tons of titanium dioxide, up by 7,500 tons (5.11%) month-on-month and 29.88% year-on-year. From January to October, cumulative exports reached 1.594 million tons, an increase of 220,600 tons (16.06%) compared to the same period last year.

Historical data indicates that China exported 1.6416 million tons of titanium dioxide in 2023. With 1.594 million tons already exported in the first ten months of 2024, and based on the average monthly export volume, total exports for the year are projected to reach 1.9 million tons—an impressive 15% year-on-year increase. It is almost certain that China will achieve another record-breaking year for titanium dioxide exports.