As June begins, where is the TiO₂ market heading next? May ended with stable, but the market is not as calm as it looks. Domestic demand remains cautious, producers are trying to defend prices, and exports are becoming an increasingly important support.

As May comes to an end, the titanium dioxide market in China has remained largely stable.

The scattered price increase notices issued earlier did little to boost the market. However, recent market talk that several leading producers may issue new price adjustments has helped restore some confidence on the supply side.

At the current price level, TiO₂ still looks slightly high. Both distributors and downstream users are mostly staying on the sidelines, and there is little sign of active restocking ahead of possible price increases. The core reason is simple: domestic demand remains weak.

By contrast, export performance has been relatively better. Market feedback suggests that for some leading producers, export sales may already account for a large part of total sales. Together with persistently firm spot prices for key raw materials such as sulfur and sulfuric acid, this gives producers more confidence to hold prices.

China Market: Stable with Some Softness

As the traditional off-season approaches, mainstream TiO₂ prices are still holding steady, but small fluctuations are becoming more visible. These include limited room for downward negotiation in some cases, while a few producers are still trying to push small upward adjustments.

The key driver behind these price differences is supply and demand.

On the supply side, domestic capacity is still expanding. On the demand side, however, the outlook for architectural coatings — especially demand linked to the real estate sector — remains under pressure. This creates a clear imbalance: supply keeps growing, but demand recovery remains weak.

As a result, pressure in the domestic market is increasing, and exports have become an even more important outlet.

According to China Customs data, China exported approximately 730,300 tons of titanium dioxide from January to April 2026, up 12.53% year-on-year. Of this total, sulfate-process TiO₂ exports reached around 551,700 tons, up 5.88% year-on-year, while chloride-process TiO₂ exports reached about 178,600 tons, surging 39.63% year-on-year. April alone saw exports of around 193,500 tons, up 30.73% year-on-year, although slightly lower month-on-month.

Global Market: Overseas Price Moves Support China’s Export Edge

Outside China, overseas TiO₂ producers have also been defending prices rather than chasing volume. Earlier market reports showed that multiple global producers, including Chemours and Tronox, announced TiO₂ price increases in early 2026. Tronox also indicated that TiO₂ pricing was moving higher in Q1, supported by price actions and a more favorable regional mix. In addition, Kronos announced a price increase effective July 1 for TiO₂ grades sold outside North America and Europe, covering regions including Asia Pacific, Latin America, the Middle East, Africa and Asia.

From a global trade perspective, major TiO₂ export markets and import markets remain highly active. Public market data identifies Germany, China, France, Japan, South Korea, the United States, India and Belgium among important exporting countries, while key importing markets include the United States, India, Saudi Arabia, Canada, Vietnam, Germany, Japan and Brazil. This global structure matters because when overseas producers raise offers or face cost pressure, Chinese TiO₂ becomes more attractive to buyers looking for a stable supply and competitive alternatives.

This is especially true for chloride-process titanium dioxide.

China’s chloride-process TiO₂ exports have grown much faster than sulfate-process products so far this year. This reflects not only higher output but also improved quality, stronger supply capability, and better acceptance in overseas markets. For international buyers, Chinese chloride-process TiO₂ is becoming a more practical substitute for overseas high-end products, with advantages in quality consistency, supply flexibility, service response and cost performance.

China now has more chloride-process TiO₂ producers than before, and this also points to a broader industry trend: the high-end segment of the global TiO₂ market is no longer dominated only by traditional Western and Japanese suppliers. In the short term,  Chinese chloride-process TiO₂ is gaining market share. In the long term, it may become one of the key drivers of China’s TiO₂ export competitiveness.

Outlook

This week, China’s TiO₂ market remained firm and stable.

From my view, May ended calmly, but June is starting with renewed price increase expectations. Under this atmosphere, producers are trying to protect prices, while the off-season market is gradually moving into a more normal rhythm.

Most new orders are still driven by immediate needs. Some downstream users may have nearly finished digesting earlier inventory, so essential-demand purchasing could increase slightly. However, compared with the earlier active market, buying momentum is clearly weaker.

For now, the market remains in a high-level consolidation phase.

The key question for June is whether leading producers can turn price increase expectations into real transaction support. If demand follows, prices may remain firm. If demand does not improve, negotiation room may gradually widen.

For buyers, this is not a market for passive waiting only. It is a market where timing, order volume, payment terms and supplier selection all matter.