The titanium dioxide market fluctuated in the first two quarters of 2023. These pricing patterns resulted from poor demand and reduced intakes from the downstream industries. Amid the slow demand, the manufacturers were forced to reduce their outputs. With rising inflation rates, production cuts gradually increased. Given the economic downturn, the labor strikes further affected the market dynamics, thereby exerting pressure on the pricing fundamentals.

TiO₂ has been well accepted in the food industry and can be found as the E171 additive in various food products, mainly for whitening and texture. It is present in some cottage and Mozzarella cheeses, horseradish cream and sauces, lemon curd, and in low-fat products such as skimmed milk and ice-cream. Even if the product is labelled as containing E171, no information is usually given about the quantity, particle size and particle structure. FDA claims that TiO₂ may be safely used as a colour additive for colouring foods in quantities up to 1 % by weight of the food. Interestingly, TiO₂ is frequently declared as a “natural colouring agent” and is therefore well accepted by consumers.