Since then, there has been a few animal studies suggesting titanium dioxide is connected to cancer. A 2017 study in Scientific Reports, for instance, found that rats with titanium dioxide in their diet had impaired immune systems, which could contribute to autoimmune diseases and colorectal cancer.

Among the raw materials for coating production, titanium dioxide is more ideal, followed by lithopone. The covering power of lithopone is only that of titanium dioxide, and the price of lithopone is much lower than that of titanium dioxide, so lithopone still occupies a large market share.

China’s government is working on its plan to eliminate outmoded capacities of TiO2 and strengthen environmental protection measurements. Small and middle-sized enterprises, with a production capacity under 50,000t/a, are the ones to suffer. They mostly get merged or need to withdraw from the market. Without their production capacity of about 500,000 tonnes yearly, the domestic output might shrink about 20%. This will enhance the power of listed companies in China immensely, which is one of the main reasons for the effort to go public.