Noting that per capita consumption of TiO[subscript]2 in Japan stands at around 2kg, compared to nearly 3kg for the US, and 4.5kg for the "Benelux" countries of Belgium, Luxembourg and the Netherlands, Reg Adams, Artikol Ltd's CEO, said: "If that's the figure that the emerging markets will aspire to (...) it sets a lower ceiling." "If those countries are so far apart, can we really continue the trendline association with GDP?" [Gerry Colamarino] said. TiO[subscript]2 is traditionally recognised as a GDP-linked commodity, but if Asian countries are destined to see lower per capita consumption, the industry may see a decoupling, he concluded.
"Downstream of us, we observe technological and locational waves in capacity and we wonder what comes next," [David Robb] said. "We think part of what comes next is Chinese chloride pigment."
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