High Input Cost Pressure Driving Titanium Dioxide Market In India
- 09-Jun-2022 8:18 AM
- Journalist: Patrick Knight
The Titanium Dioxide maintained a bullish sentiment with a constant increment in its quotations in India. The domestic market has been heavily impacted by the rising crude oil prices, accelerating the manufacturing and transportation cost of materials employed in Paints & Coatings, Cosmetics, and various end-user industries.
The movements in Crude Oil prices after the sanctions imposed on the World’s second-largest crude oil exporter, Russia, has created an implicit pressure on supply chain and indirectly impacted the Titanium Dioxide market. A major side key product, Sulfuric Acid, is also undergoing supply pattern changes due to the diversion of the supplies toward the fertilizers industries in the domestic region, provoking the domestic manufacturers to import the materials regarding looming food security. Thus adversely affecting the downstream market and resulting in soaring finished goods prices.
When enquired, one of the leading manufacturers in Southeast Asia has informed that they are expanding their production capacity to combat the increasing demand from different sectors for Titanium Dioxide. The domestic market players have already revised the prices for downstream products again by 3 percent in May after January amidst the prevailing mild-bullish sentiment throughout 2022.
Furthermore, the spot prices of Titanium Dioxide have witnessed a stable trend since last week and settled for 3090 USD per ton yesterday in China. The factories battled with shipping delays for essential goods due to port congestion. However, with the ease of lockdown restrictions, the Chinese market is returning to normal, looking for a rapid economic recovery in the coming months.
As per ChemAnalyst, the prices of Titanium Dioxide are anticipated to staggered upwards firmly in the upcoming weeks amidst plunging crude oil prices and active demands from construction and other sectors. The increased Crude Oil prices will undoubtedly exhibit enough cost pressure on the Titanium Dioxide market In India.