Product evolution takes center stage as supply, demand stabilize
The global economies have almost entirely recovered from the recessionary period of 1989-1993, with titanium dioxide demand advancing strongly in all regions, especially in Asia Pacific.
Global demand is expected to reach 4.0 million tons by the year 2000 and perhaps 4.8 million tons by 2005, assuming a period of extended economic stability - a highly debatable scenario in the complex world of macro economics.
Ti[O.sub.2] pigment demand in North America increased by 5.5 percent in 1994, in line with the time-honored axiom of "double GNP increase" in the first full post-recessionary year. Growth in mature economic regions (North America, Western Europe, Japan, and Australia) is expected to slow to GNP rates (i.e. approximately 2.5 percent) over the extended …