By Accommodation Times News Serivce
Paint makers are turning their head to China for sourcing a chemical called titanium dioxide, key raw material for the industry. A major reason behind China emerging as an alternative market is that it provides cheaper titanium dioxide also known as synthetic rutile.
Titanium Dioxide is the key component for making paint and stand close to 30% of the total cost of production. It’s always cheaper when sourced from China, compared to traditional markets. The import cost is also less so many MNCs are looking at it as an alternative market said president of the Indian Paints Association (IPA). Also due to the slow growth in the domestic market this trend might become more visible next fiscal.