The paints & coatings segment contributed the largest in the global Lithopone market share. It is added to paint as a white pigment to enhance its surface properties such as UV resistance and resistance to fungicidal and algae growth. 

The paints and coatings industry reduced their offtakes which coupled with the drop in the crude oil prices and availability of cheaper imports from the Asian market led to the fall in titanium dioxide prices. The demand decreased significantly in the fourth quarter along with the slow manufacturing due to high inflation rates keeping the price trends of the commodity in the negative zone.

In recent years, there has been growing interest in the development of novel applications for Chinese anatase titanium dioxide, such as in the field of energy storage and conversion. For example, it has been investigated as a potential electrode material for lithium-ion batteries, due to its high conductivity and stability. Furthermore, its photocatalytic activity has been explored for use in dye-sensitized solar cells, where it can help to improve the efficiency of solar energy conversion.