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Posted: June 19, 2010
TZMI releases new pigment-focused periodical - Pigment Industry Annual Review
(Nanowerk News) Pigment Industry Annual Review (PAR) is TZMI Group's (TZMI)'s third industry study dedicated to over viewing the global titanium pigment market. The initiation of this pigment-focused report, this time planned as an annual periodical, extends beyond the scope of TZMI's flagship Mineral Sands Annual Review to carefully examine the structure and market dynamics of the global titanium pigment industry.
TZMI released its first publication on the titanium pigment industry jointly with Artikol of the UK in October 1997. TiO2 Pigment – A Dynamic Global Industry quickly became an essential reference of the sector in an era not dominated by internet-based market research. So well known was this initial study, and its second edition The Global TiO2 Pigment Industry (published in May 2001), that they became known simply as "the green books". The green book was essential reading for all new employees within the sector.
TZMI is forecasting demand in Western Europe to increase to 1,261 million tonnes by 2015, a CAGR of 2.2%
Since 2001 there has been no revision of the green book by TZMI and Artikol. In the ensuing period, TZMI further developed its own in house TiO2 pigment expertise, progressively developing both its publications and consulting business capabilities. Now as an authority on the subject of titanium dioxide pigment, TZMI presents its own views, numbers and forecasts within this publication, contrasting against alternative publically available information.
TZMI has become globally recognised as the leading independent titanium and mineral sands consulting and publishing authority. As a specialist organisation, it is continually advising new market entrants, current participants and financial firms on the intricate aspects of this opaque sector.
Several key features have emerged in the preparation of this document. These include:
The more mature Western markets for TiO2 pigment demand have slowed over the last decade to compound average growth rates (CAGR)'s significantly below that of the long term global average CAGR of 3.1%
Since 2000, China has emerged as the dominate growth market for TiO2 pigment, supported in a large way by the rise of a domestic sulfate-process industry.
Access to the newer (1950s) chloride process has been tightly held by a hand full of global manufacturing companies and those organisations that successfully licensed technology during the 1970s and 1980s. Since 1994 there has been no greenfields chloride route pigment plants commissioned.
New processes for the manufacture of TiO2 pigment have been, and still are, constantly under development, but no alternative manufacturing routes have been successfully commercialised on a large scale. While thrifting of use of TiO2 pigment has occurred, in part caused by the improvement in TiO2 pigment product quality, there is yet to be accepted significant interchangeable product for most applications.
In recent years the ultrafine, or nano-TiO2, markets have undergone significant growth, both in terms of volume and scope of application. However, while these markets are currently highly profitable, the total volumes are less than 1% of the global marketplace.
The long term real TiO2 global pigment price has declined over the last 20 years in US dollar terms; however, there are significant differences in the pricing behaviour within different regions and different end-use markets.
The full extent of the changing forces in the industry will be felt as 2010 unfolds, so the publication is most timely in seeking to put all these items into perspective. In most growth markets for TiO2 products, the Global Financial Crisis of 2008/09 is a past memory, while in other more mature markets the demand outlook is still somewhat conservative.
This report is intended to become the recognised annual review of the global TiO2 pigment sector. The content is structured as a combination of data presentation, interpretation and analysis, inter-dispersed with some historical references to give the reader a context from which to draw their own perceptions. Where appropriate, TZMI includes its own forecasts for key industry data.
PAR was published in June 2010. Enquiries regarding subscription should be emailed to Machiel Keegel at mkeegel(at)tzmi(dot)com.