Uncertainty Hovering Over The Titanium Dioxide Industry
Market Expertz | September 20, 2018
France among first of the European nations are on route to ban titanium oxide in the country for the food segment. 22% of titanium dioxide consumption in the French agent region comes from the food industries prevailing in this region. In Europe, titanium dioxide is utilized as a colouring age which is severely utilized in segments such as sweets, chewing gum, bakery and sauces.
This move by France is also supported by majority of the countries in the European region considering their close food ingredient laws and regulations. At the outsight of this, Russia might loose a significant share of its revenue considering, under the titanium segment Russia is one the biggest supplier for Titanium Dioxide for the European market.
In June, the European Committee showed indications that they are ready to present a petition to identify Titanium Dioxide as carcinogenic material. Under this broad category terms, there might be a plight of oversupply of titanium dioxide in the global market. Titanium dioxide is also broadly used in cosmetics and other personal care items. Europe, according to estimates account for 28% of the consumption for personal care items. Terming titanium dioxide as a carcinogenic material might further trigger the drop in prices for titanium dioxide.
Predictions indicate that titanium mining and production is expected to be the progressing at a rate 11.2% across the globe. Considering, this law passes the phase of the government approval, the entire titanium dioxide would lose likely 2.5 % from its year on year growth. China in its midst of economic slowdown is optimistic about its sustainable form partly owing to its wide and diverse titanium industry. This stint by the European industry would also likely showcase a further decline in China’s GDP moving ahead in the future
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