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Titanium dioxide, the chemically‐based product commonly referred to as white pigment or as titanium pigment, or in the industry, often simply by its chemical formula, TiO2, is not a single substance but is actually a broad range of quite different performance products. Because each one is designed to accomplish defined technical purposes in specific applications, they are not generally interchangeable with other applications. While both producers and users of these various TiO2 pigment products refer to them as grades of TiO2, this unfortunate nomenclature masks the performance distinctions of individual titanium dioxide products. Thus some people, and even some producers who should know better, mislabel titanium dioxide as a commodity. Focusing on the fallacy of the commodity assumption is important to understanding the global outlook for the business for users, producers, and investors.

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