Recently, European market participants said that the impact of high energy costs, the production and sales of titanium dioxide devices in Europe declined significantly.
European titanium dioxide producer Venator has reduced its plant in Urdingen, Germany, to minimum production levels in light of high energy costs in Europe, while its plant in Duisburg is also cutting production, president and CEO Simon Turner said. As a result, the company’s titanium dioxide sales in Europe and Asia have declined significantly, and the company’s third quarter titanium dioxide sales volume is expected to decline 25% from the second quarter.
Hartwig Michels, president of the European Petrochemical Association (EPCA), said weak market conditions, low production margins and easing supply chain problems could open up the European chemical market to cheaper imports. Forcing more chemical producers in Europe to cut operating rates. Europe’s chemical and fertilizer industries have seen mass shutdowns as soaring energy prices have made it uneconomical to produce some materials. Other market estimates, European titanium dioxide may appear 10%~20% of the production.
Europe titanium dioxide production capacity accounts for about 18% of the world, at present, many titanium dioxide enterprises in Europe production reduction, capacity has been reduced to 20% of the total load, supply is tight. Weak conditions in many chemicals markets are expected to continue well into next year as institutions such as the IMF, OECD and the European Commission continue to downgrade their GDP growth forecasts and the economic environment deteriorates faster and deeper than expected.
Post time: Nov-11-2022