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Sample report for adhesive category. Other reports may vary in format.
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| TZMI TiO2 Review: July 2005
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Single copy - July 2005 issue
TZMI's TiO2 Review covers the TiO2 pigment industry and its major end-use markets including paint and coatings, plastics, paper and ink. The newsletter provides current and timely market commentary and analysis relevant to understanding the growth and economics of the TiO2 pigment industry Regular pricing trends are presented, including a focus on raw material costs. In this issue: The Q2 2005 financial results released by DuPont, Kerr-McGee, Kemira and Lyondell (Millennium Chemicals) all show an industry that has been impacted by increased costs, particularly for raw materials, which were largely unable to be offset by increased pigment prices. Both Lyondell and Kerr-McGee reported lower pigment sales volumes for the quarter compared to Q2 2004, but it must be remembered that Lyondell (Millennium Chemicals), in particular, was actively engaged in selling pigment to reduce elevated inventory levels in Q2 2004. DuPont, on the other hand, reports a slight increase in pigment sales volumes in Q2 2005.
Demand growth for pigment in Europe appears to have weakened in 2005, resulting in downward pressure on European pigment prices. Current demand for pigment in the US is reported as strong; however, nearly all of this strength is in the architectural sector with production of industrial OEM coatings continuing to fall in 2005 due to the continued movement towards offshore manufacturing by US OEM manufacturers, and the trend to importing finished products that have been coated in other countries. DuPont indicated in its recent quarterly conference call a decrease in coatings volumes for the US automobile OEM sector compared to Q2 2004.
Demand growth for pigment in Asia-Pacific also appears to be slowing in 2005 after record demand growth in 2004. Chinese pigment imports in Q1 2005 showed a 23% decrease compared to Q1 2004, with reported import volumes falling below 55,000 tonnes. Demand for domestically produced pigment, however, remains strong and TZMI estimates that consumption growth by China, whilst having slowed slightly from 2004 levels is forecast to increase by a further 7% in 2005 to reach nearly 650,000 tonnes. In comparison, Indian import volumes appear to have increased strongly in 2005, following from a record level of approximately 55,000 tonnes in 2004, 25% higher than 2003. Whilst Indian trade statistics are currently not complete for Q1 2005, trade statistics for countries that export pigment to India show significant increases in Indian imports for 2005. Indian coatings consumption is currently less than 1 kg per capita, offering high growth potential for coatings and therefore TiO2 pigments for the future.
In the news, three new TiO2 grades have been developed by pigment producers. DuPont has launched its new plastic coatings grade Ti-Pure® R-350, and Sachtleben has launched a new speciality anatase grade, Hombitan® COS, for the cosmetic industry. Of significant importance to the ink industry is the current trialling of a new improved ink grade by Kemira. The new grade known as KEMIRA XRDI-S is built on the market leading ink grade RDI-S, with a larger crystal size that reportedly imparts greater opacity. Kemira expects to release the new grade later in 2005.
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| Newsletter Table of Contents |
- News
- People news
- Conferences list
- Pricing trends
- Trade statistics: The Americas
- Financial results
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