TITANIUM DIOXIDE

Table of Contents

I-A. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

• Study Reliability And Reporting Limitations I-1
• Disclaimers I-2
• Data Interpretation & Reporting Level I-2
• CAGR Disparities Between Historic & Current Data I-3
• Quantitative Techniques & Analytics I-3
• Product Definitions And Scope Of Study I-3
• Paints and Coatings I-4
• Plastics I-4
• Paper I-4
• Other Applications I-4

I-B. GENERAL OVERVIEW OF THE CHEMICAL INDUSTRY

• China and Emerging Economies Fuel Demand I-5
• Production Focus Moves to Developing Countries I-5
• Growing Use of E-Commerce Expands Trade I-5

II. EXECUTIVE SUMMARY

• 1. Market Dynamics II-1
• Introduction II-1
• Titanium Dioxide - The Silent Lifestyle Product II-1
• A Universal Ingredient II-1
• Industry Background - In Brief II-1

2. Global Market Overview II-2

• By Region II-2
• By End-Use Segment II-2
• Leading Markets by Consumption and Production II-2
• Table 1: Worldwide Installed Capacity for TiO2 Production in Thousand Metric Tons for 2005 by Geographic Region - United States, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America (includes corresponding Graph/Chart) II-3
• Table 2: Worldwide Installed Capacity for TiO2 Production in 2005: Percentage Breakdown by Geographic Region - United States, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America (includes corresponding Graph/Chart) II-3
• Table 3: Leading Titanium Mineral Regions in the World (2004 - 2005): Minerals Mined for Australia, South Africa, Canada, China, Norway, US, India, Ukraine, Brazil, and Others in (000) Metric Tons (includes corresponding Graph/Chart) II-3
• Trends in the TiO2 Industry II-4
• Trend Towards Larger Global Reach II-4
• Consolidation - A Visible Phase II-4
• Pricing and Production II-5
• Optimism: Nuances in Pricing Patterns II-5
• Early 2006 and Late 2005 II-5
• Early 2005 & 2004 II-5
• Manufacturers Refurbish Operations II-7
• Key Growth Markets II-7
• Sunscreen Applications Boost Pigment Demand II-7
• Environment Protection - Another Emerging Application II-7
• Multi-Color Mania Drives Pigment Growth II-7
• Outlook II-7
• TiO2 to Continue Growth II-7
• Demand to Remain Strong in US and Europe II-8
• Chloride Capacity to Rise II-8
• Table 4: Worldwide Titanium Dioxide Capacity in 2004 by Process - Chloride and Sulfate II-8
• Industry Environment II-8
• Titanium Dioxide and the Economic Cycle II-9
• Barriers to Entry II-9
• Imports/Exports II-10
• Table 5: US Imports of Titanium Dioxide for Consumption in Pigments and Preparations in 2003 & 2004: Percentage Breakdown by Geographic Regions - Canada, China, Germany, Japan, United Kingdom, India and Others (Volume Based) (includes corresponding Graph/Chart) II-10
• Table 6: US Imports of Titanium Dioxide for Consumptionin Pigments and Preparations in 2003 & 2004: Percentage Breakdown by Geographic Regions - Canada, Japan, United Kingdom, Germany, Finland, China and Others (Value Based) (includes corresponding Graph/Chart) II-10
• Table 7: US Domestic Exports of Titanium Dioxide for Consumption in Pigments and Preparations in 2003 & 2004: Percentage Breakdown by Geographic Regions - The Netherlands, Hong Kong, Canada, Mexico, Japan, Argentina and Others (Volume Based) (includes corresponding Graph/Chart) II-11
• Table 8: US Domestic Exports of Titanium Dioxide for Consumption in Pigments and Preparations in 2003 & 2004: Percentage Breakdown by Geographic Regions - The Netherlands, Canada, Hong Kong, Mexico, Japan and Others (Value Based) (includes corresponding Graph/Chart) II-11

3. Competitive Analysis II-12

• Key Players in the TiO2 Industry II-12
• Table 9: Leading Players Worldwide: Installed Capacity and Percentage Breakdown in 2004 - DuPont, MIC, Kerr McGee, Huntsman, NL Industries, Ishihara Sangyo Kaisha, China_TiO2 and Others (includes corresponding Graph/Chart) II-12
• Table 10: Leading Players in Titanium Dioxide Market in 2003: Percentage Breakdown of Installed Capacity by Process Employed - Chloride and Sulfate (includes corresponding Graph/Chart) II-13
• Competitive Factors II-13
• Price - The Most Strategic Competitive Factor II-13
• Technology II-14
• Table 11: Titanium Dioxide Capacity of Leading Players By Technology in North America - 2003 & 2004(in ' 000 metric tons/year) II-14
• Value-Addition - An Important Positioning Strategy II-14

4. Titanium Dioxide - Product Overview II-15

• Crystalline Forms of Titanium dioxide II-15
• Anatase TiO2 II-15
• Rutile TiO2 II-15
• Titanium Ore - Raw Material for Titanium Dioxide II-16
• Mining Titanium Minerals II-16
• Global Titanium Market II-16
• Rutile and Ilmenite - Primary Raw Materials II-17
• Zircon - Another Important Ore II-17
• Global Production Statistics - A Historic Review II-17
• Table 12: Titanium Reserves Worldwide: Percentage Breakdown by Country - Australia, South Africa, Norway, India, Canada, China, Brazil, United States and Others (includes corresponding Graph/Chart) II-17
• Obtaining the TIO2 Pigment II-17
• Steps Involved in Concentration of Crude Ore II-18
• Processing of Titaniferous Ores II-18
• Sulfate Process II-18
• Reactions Involved II-19
• Chloride Process - The Economical Technology II-19
• The Reaction II-20
• Chloride Vs Sulfate II-20
• Chloride is Environment-Friendly II-20
• Creates Superior Quality Crystal II-20
• A Continuous Process II-20
• Quicker Than Sulfate II-20
• Offers Higher Operating Rate II-20
• Chloride-Ilmenite Process II-20
• Treatment of TiO2 - The Next Step II-21
• Process of Coating TIO2 Pigment with Organic Polymer II-21
• Process for Improving the Dispersibility of Post-Treated TiO2 into Organic Systems II-21
• Durable Pigmentary TiO2 and Methods of Production II-21
• Titanium dioxide Nanocyrstals II-21
• Procedure - Alkyphosphanate Capping Group Mediation II-22
• Nano-Size Catches Corporate Attention II-22
• Substitutes to Titanium Dioxide II-22
• There Exists No Absolute Alternative For TiO2 II-22
• Prices Encourage Substitutes in Paper and Paint Industry II-22

5. Diverse End Uses of Titanium Dioxide II-23

• Major End-Use Segments II-23
• Paints and Coatings II-23
• Single Largest Market for TiO2 II-23
• Importance of TiO2 in Paints and Coatings II-23
• Demand Generators II-24
• Industry Trends Affecting TiO2 Market II-24
• Reengineering Titanium Dioxide II-24
• Optical Thin Film Coatings II-24
• TiO2 for Biocontrol in Waterborne Coatings II-24
• Technological Breakthroughs Affecting the Industry II-24
• Plastics II-24
• A Dynamic Market II-24
• TiO2 Accounts for 90% of Inorganic Pigments Used in Plastics II-25
• Application in Plastics II-25
• Components Enhancing TiO2 Dispersion Property II-25
• Paper II-26
• Increasing Usage II-26
• Use of TiO2 in Different Paper Applications II-26
• Filler II-26
• Coating II-26
• Laminate II-26
• Markets Offering Brighter Opportunities II-27
• Optimization in Paper Industry Trims TiO2 Consumption II-27
• Substitutes Vie for Market Share II-27
• North American Paper Industry - Setting New Waves II-27
• Miscellaneous Applications II-28
• Chemical Fibers II-28
• TiO2 Renders a New Look to Fibers II-28
• Titanium Dioxide Coated Fibers II-28
• Optical Catalysts II-28
• TiO2 in the Environmental Business II-28
• Applications of TiO2' s Photocatalytic Property II-29
• Titanium Dioxide for Sanitary Applications II-29
• In Water Purifiers II-29
• TiO2 Checks Oestrogen Pollution II-29
• TiO2 Photocatalytic System Removes Ethylene II-30
• Opaque Films - A Rapidly Growing Specialty Segment II-30
• Food Products II-30
• Titanium Dioxide in Laser Marking II-30
• Medicinal Applications II-31
• Titanium Oxide Used in Cancer Treatment II-31
• Electrodes and Electronic Applications II-31
• Ceramics II-32
• Rubber II-32
• Inks II-32
• Cosmetics II-32
• Personal Care Sees New Emergence with Nano Technology II-33
• TiO2 in Pearlescent Pigments II-33
• Micronized Titanium dioxide II-33
• Expanding Applications - New Developments II-34
• DuPont Develops Advanced TiO2 Product II-34
• TiO2 Coated School Uniforms II-34
• BASF Introduces T-Lite range of TiO2 Products II-34
• Millennium Chemicals Develops New TiO2 Pigment II-34
• Toshiba Ceramics Develops New Titanium Dioxide Product II-34
• Japanese Scientists Add Light to Titanium Dioxide II-35
• A Novel Photovoltaic Cell from the Scientists of University of California II-35
• Tibet Spin-Off Nanometer Titanium Dioxide II-35
• Degussa Receives Patent Doped TiO2 II-35
• KI Introduces Kronos 2500 II-35
• Titanium Dioxide as Catalyst II-35
• Toyota R&D Finds New Use for TiO2 II-36
• Titanium Dioxide for Tiles & Mirrors II-36
• Research at NIRI Finds New Use for TiO2 II-36
• BASF Unveils Uvinul TiO2 II-36

6. Technical Breakthroughs II-37

• Titanium Dioxide-Calcium Carbonate Composite Particles II-37
• Doped Titanium Oxides for Advanced Uses II-37
• Altair Nanotechnologies Secures Australian Patent for Nano- Sized and Pigment-Sized Ti02 II-37
• Altair Nanotechnologies Secures European Patent for Processing Titaniferous Ore to Titanium Dioxide Pigment II-37
• TIO2 - A Source of Generating Power? II-38
• Panzhihua Steel Corp. Develops New Product Varieties II-38
• Altair International Receives First Patent II-38
• Tiomin Resources Receives Australian Patent II-39
• Cost Effective Titanium II-39

7. Environmental Concerns II-40

• Toxicity of TiO2 - Remains a Clouded Issue II-40
• Carcinogenicity of Titanium dioxide II-40
• Australian Researchers Alert Sunscreen Users II-40
• Environmental Effects of TiO2 Production II-40
• Handling Dry Titanium Dioxide II-40

8. Organizations Regulating Tio2 Business II-41

• TDMA II-41
• PSMA II-41

9. Recent Industry Activity II-43

• DuPont to Establish TiO2 Plant in China II-43
• DuPont and Huatai Sign Supply Agreement II-43
• Jinan Yuxing to Shift Plant II-43
• Bothli Trade Ag Signs Agreement for Minerals Plant in India II-43
• Chongqing Titanium to Acquire Pangang Titanium II-43
• Tiomin Acquires Exploration License in Tanzania II-43
• Kerr-McGee Spins Off Tronox II-44
• DuPont Begins Operations at Delisle Plant II-44
• ISK Singapore to Expand Capacity II-44
• Cristal to Expand Capacity II-44
• Iluka to Close Florida/Georgia Operations II-44
• DuPont and Kronos Settle Patent Dispute II-44
• DuPont Declares Force Majeure II-45
• Altair Nanotechnologies and Genesis Air Enter into an Alliance Agreement II-45
• BASF AG Enters into Agreement with Sakai Chemical Industry Company II-45
• DuPont to Build New Titanium Dioxide Plant II-45
• Kerr-McGee to Spin-Off or Sell Chemical Business II-45
• Kerr-McGee Closes Savannah Plant II-45
• Lyondell Acquires Millennium Chemicals II-46
• Travancore Titanium Products Raises Capacity II-46
• ISKL Opts for Capacity Expansion at Singapore II-46
• DuPont Establishes a New Facility II-46
• Tata Steel Plans a Titanium Dioxide Project in Tamil Nadu II-46
• mg Technologies Winds-up Dynamit Nobel II-46
• Altair Nanotechnologies Attains Project Approval from Vietnam Government II-47
• Chlorinated Titanium Dioxide Powder Project Under Construction II-47
• Millennium Inorganic Expands Production Capacity II-47
• CYTDC Expands Titanium Dioxide Production II-47
• Kerr-McGee Expands Capacity at Hamilton and Savannah Plants II-47
• Nanometer Production Line Starts Production...... II-48
• Anhui Establishes New Production Base II-48
• NL Industries Spins-Off Kronos Unit II-48
• Kerr-McGee Announces Closure of Mobile Plant II-48
• Czech Company to Increase Capacity at Prerov II-48
• HT Purchases AECI' s Share II-48
• Altair Signs Second Titanium Dioxide Pigment Agreement II-49
• MCI Expands in France II-49
• Huntsman Tioxide Commissions New Plant at Greatham, UK II-49
• DuPont Realigns Business II-49
• Du Pont Opens Client Service Center in Shanghai II-50
• Huntsman Tioxide Stops Expansion Project II-50
• Cristal Enhances Capacity II-50
• Millennium Chemicals Closes TiO2 Plant II-50
• Kemira Signs-up with E&E II-50
• TiWest Receives Approval for its Expansion Plans II-50
• IRL Expands Titanium Operations II-50
• Kerr-McGee Closes TiO2 Plant in Belgium II-51
• Bayer Sells Stake in TiO2 Plants II-51
• NL Industries Restarts Damaged German Plant II-51
• Kerr-McGee Acquires Kemira' s Savannah Plant II-51
• Kerr-McGee Purchases Kemira Oyj' s Netherlands Pigment Operations II-51
• Kerr-McGee Acquires Rotterdam Facility of Kemira II-51
• Altair Purchases TiO2 Plant II-52
• MIC in Agreement with RV II-52
• DuPont and Millenium Inorganic in Cross-Licensing Agreement II-52
• Huntsman Awards Kvaerner Upgrade Contract II-52
• Henan Jiaozuo Chemical Completes Plant Renovation II-52
• MIC Spends US$31 mil II-52
• Jinan Yuxing Chemical General Plant Starts Production II-52
• Zibo Cobalt Brings TiO2 Production line Onstream II-53
• TCC Finalizes Establishment of Synthetic Rutile Plant II-53
• Kerr-McGee Sells Stake in National Titanium of Saudi Arabia II-53
• Travencore Titanium Shuts Down II-53
• Millennium Inorganic Reorganizes TiO2 Operations II-53
• Hitox Changes Name to Tor Minerals International II-53

10. Focus on Select Players II-54

• AECI (South Africa) II-54
• Altair Nanotechnologies Inc (USA) II-54
• BASF AG (Germany) II-54
• Cangwu Shunfeng Titanium Dioxide Co., Ltd. (China) II-54
• Du Pont (E.I.) De Nemours (United States) II-55
• DuPont Titanium Technologies (USA) II-55
• Hunan Zhuzhou Chemical Industry Group Co. Ltd (China) II-55
• Huntsman Tioxide (United Kingdom) II-56
• Iluka Resources Ltd (Australia) II-56
• Ishihara Sangyo Kaisha (Japan) II-56
• Jinan Yuxing Import and Export Co., Ltd (China) II-56
• Kemira Pigments Oy (Finland) II-57
• Kerala Minerals and Metals Ltd. (India) II-57
• Kilburn Chemicals Ltd. (India) II-57
• Kolmak Chemicals Ltd. (India) II-58
• Lyondell Chemicals (USA) II-58
• Millennium Inorganic Chemicals (Australia) II-58
• Nanjing Titanium Dioxide Chemical Co., Ltd. (China) II-59
• National Titanium Dioxide Co., Ltd. (Cristal) (Saudi Arabia) II-59
• NL Industries (United States) II-59
• Kronos (United States) II-60
• PRECHEZA a.s. (Czech Republic) II-60
• Sachtleben (Germany) II-60
• Shandong Dongjia Group (China) II-60
• Tata Iron And Steel Company Limited (India) II-61
• Tiomin Resources, Inc. (Canada) II-61
• Tiwest (Australia) II-61
• TOR Minerals International (USA) II-61
• Toshiba Ceramics Co., Ltd. (Japan) II-61
• Tronox, Inc. II-62
• Zhenjiang Titanium Dioxide Co., Ltd. (China) II-62
• 11. Global Market Perspective II-63
• Table 13: World Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by Geographic Region -USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) II-63
• Table 14: World Historic Review for Consumption of Titanium Dioxide by Geographic Region - USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991through 2000 (includes corresponding Graph/Chart) II-63
• Table 15: World 20-Year Perspective for Consumption of Titanium Dioxide by Geographic Region - Percentage Breakdown of Unit Consumption for USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets for Years 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) II-64
• Table 16: World Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide in Paints & Coatings by Geographic Region - USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) II-65
• Table 17: World Historic Review for Consumption of Titanium Dioxide in Paints & Coatings by Geographic Region - USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) II-65
• Table 18: World 20-Year Perspective for Consumption of Titanium Dioxide in Paints & Coatings by Geographic Region - Percentage Breakdown of Unit Consumption for USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets for Years 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) II-66
• Table 19: World Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide in Plastics by Geographic Region - USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) II-67
• Table 20: World Historic Review for Consumption of Titanium Dioxide in Plastics by Geographic Region - USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) II-67
• Table 21: World 20-Year Perspective for Consumption of Titanium Dioxide in Plastics by Geographic Region - Percentage Breakdown of Unit Consumption for USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets for Years 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) II-68
• Table 22: World Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide in Paper by Geographic Region - USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) II-69
• Table 23: World Historic Review for Consumption of Titanium Dioxide in Paper by Geographic Region - USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) II-69
• Table 24: World 20-Year Perspective for Consumption of Titanium Dioxide in Paper by Geographic Region - Percentage Breakdown of Unit Consumption for USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets for Years 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) II-70
• Table 25: World Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide in Other End-Uses by Geographic Region - USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) II-71
• Table 26: World Historic Review for Consumption of Titanium Dioxide in Other End-Uses by Geographic Region - USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) II-71
• Table 27: World 20-Year Perspective for Consumption of Titanium Dioxide in Other End-Uses by Geographic Region - Percentage Breakdown of Unit Consumption for USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin American Markets for Years 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) II-72

III-A. MARKET

1. The United States III-1

• A. Market Analysis III-1
• An Overview III-1
• Leading Players in the US Market III-1
• Titanium Dioxide Producers in the US: 2004 III-1
• Table 28: US TiO2 Prices - 2000-2004 (in $/mt) (includes corresponding Graph/Chart) III-2
• A Historic Perspective (2000-02) III-2
• Production Levels III-2
• Prices III-2
• Effect of Demand for Paints on TIO2 Market III-2
• Impact of Inks Demand on TIO2 Market III-2
• Strategic Corporate Developments III-3
• Key Players III-6
• B. Market Analytics III-9
• Table 29: US Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-9
• Table 30: US Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-10
• Table 31: US 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) III-10

2. Canada III-11

• A. Market Analysis III-11
• An Overview III-11
• Historic Perspective III-11
• Tiomin Resources - A Key Player III-11
• B. Market Analytics III-12
• Table 32: Canadian Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-12
• Table 33: Canadian Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-12
• Table 34: Canadian 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) III-13

3. Japan III-14

• A. Market Analysis III-14
• An Overview III-14
• Historic Perspective III-14
• Factors Influencing the TiO2 Industry III-14
• Novel Application Areas to Boost TiO2 Demand.... III-15
• Factors Influencing Demand for TiO2... III-15
• Price Fluctuations... III-15
• Import and Export Market Scenario III-15
• Product Launches III-16
• Strategic Corporate Developments III-16
• Key Players III-17
• B. Market Analytics III-18
• Table 35: Japanese Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-18
• Table 36: Japanese Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-19
• Table 37: Japanese 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) III-19

4. Europe III-20

• A. Market Analysis III-20
• Current & Future Analysis III-20
• Capacity Expansions III-20
• Price Hikes - A Major Issue III-20
• Table 38: Europe TiO2 Prices- 2000-2004 (in €/mt) (includes corresponding Graph/Chart) III-20
• Historic Perspective III-21
• B. Market Analytics III-21
• Table 39: European Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by Geographic Region - France, Germany, Italy, UK, & Rest of Europe Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-21
• Table 40: European Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper,and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-22
• Table 41: European Historic Review for Consumption of Titanium Dioxide by Geographic Region - France, Germany, Italy, UK, & Rest of Europe Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-22
• Table 42: European Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-23
• Table 43: European 20-Year Perspective for Consumption of Titanium Dioxide by Geographic Region - Percentage Breakdown of Unit Consumption for France, Germany, Italy, UK, & Rest of Europe Markets for Years 1991,1995, 2005 & 2010 (includes corresponding Graph/Chart) III-23
• Table 44: European 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991 1995, 2005 & 2010 (includes corresponding Graph/Chart) III-24

4a. France III-25

• A. Market Analysis III-25
• An Overview III-25
• Historic Perspective III-25
• Strategic Corporate Development III-25
• B. Market Analytics III-26
• Table 45: French Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-26
• Table 46: French Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints &Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-26
• Table 47: French 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991,1995, 2005 & 2010 (includes corresponding Graph/Chart) III-27

4b. Germany III-28

• A. Market Analysis III-28
• An Overview III-28
• Historic Perspective III-28
• Strategic Corporate Developments III-28
• Key Players III-29
• B. Market Analytics III-30
• Table 48: German Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper,and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-30
• Table 49: German Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints &Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-31
• Table 50: German 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991,1995, 2005 & 2010 (includes corresponding Graph/Chart) III-31

4c. Italy III-32

• A. Market Analysis III-32
• An Overview III-32
• Historic Perspective III-32
• B. Market Analytics III-32
• Table 51: Italian Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-32
• Table 52: Italian Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-33
• Table 53: Italian 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991,1995, 2005 & 2010 (includes corresponding Graph/Chart) III-33

4d. United Kingdom III-34

• A. Market Analysis III-34
• An Overview III-34
• Historic Perspective III-34
• Strategic Developments III-34
• Huntsman Tioxide - A Key Player III-35
• B. Market Analytics III-35
• Table 54: UK Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001through 2010 (includes corresponding Graph/Chart) III-35
• Table 55: UK Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-36
• Table 56: UK 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) III-36

4e. Rest of Europe III-37

• A. Market Analysis III-37
• An Overview III-37
• Historic Perspective III-37
• Competition III-37
• Strategic Corporate Developments III-37
• Key Players III-39
• B. Market Analytics III-40
• Table 57: Rest of Europe Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-40
• Table 58: Rest of Europe Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-40
• Table 59: Rest of Europe 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) III-41

5. Asia Pacific III-42

• A. Market Analysis III-42
• Current & Future Analysis III-42
• A Peek Into Recent Past III-42
• Historic Perspective III-42
• B. Market Analytics III-43
• Table 60: Asia-Pacific Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by Geographic Region - China and Rest of Asia-Pacific Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-43
• Table 61: Asia-Pacific Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-43
• Table 62: Asia-Pacific Historic Review for Consumption of Titanium Dioxide by Geographic Region - China and Rest of Asia-Pacific Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-44
• Table 63: Asia-Pacific Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-44
• Table 64: Asia-Pacific 20-Year Perspective for Consumption of Titanium Dioxide by Geographic Region - Percentage Breakdown of Unit Consumption for China and Rest of Asia-Pacific Markets for Years 1991, 1995, 2005 & 2010 III-45
• Table 65: Asia-Pacific 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) III-45

5a. China III-46

• A. Market Analysis III-46
• Current Scenario III-46
• Historic Perspective III-46
• Outlook III-46
• Pricing Trends III-47
• Factors Influencing Demand for TiO2 III-47
• A Peek into Recent Past III-47
• Strategic Corporate Developments III-48
• Key Players III-50
• B. Market Analytics III-53
• Table 66: Chinese Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-53
• Table 67: Chinese Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-53
• Table 68: Chinese 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) III-54

5b. Rest of Asia-Pacific III-55

• A. Market Analysis III-55
• Current & Future Analysis III-55
• Historic Perspective III-55
• A Brief Overview of Select Countries III-55
• Australia III-55
• India III-55
• Indonesia III-55
• Strategic Corporate Developments III-56
• Key Players III-58
• B. Market Analytics III-61
• Table 69: Rest of Asia-Pacific Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-61
• Table 70: Rest of Asia-Pacific Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-61
• Table 71: Rest of Asia-Pacific 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991, 1995, 2005 & 2010 (includes corresponding Graph/Chart) III-62

6. The Middle East III-63

• A. Market Analysis III-63
• An Overview III-63
• Historic Perspective III-63
• Strategic Corporate Developments III-63
• Key Players III-64
• B. Market Analytics III-65
• Table 72: Middle East Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-65
• Table 73: Middle East Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-65
• Table 74: Middle East 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991 1995, 2005 & 2010 (includes correspondingGraph/Chart) III-66

7. Latin America III-67

• A. Market Analysis III-67
• Overview III-67
• Historic Perspective III-67
• B. Market Analytics III-68
• Table 75: Latin American Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by Geographic Region - Brazil and Rest of Latin American Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-68
• Table 76: Latin American Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-68
• Table 77: Latin American Historic Review for Consumption of Titanium Dioxide by Geographic Region - Brazil and Rest of Latin American Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-69
• Table 78: Latin American Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-69
• Table 79: Latin American 20-Year Perspective for Consumption of Titanium Dioxide by Geographic Region - Percentage Breakdown of Unit Consumption for Brazil and Rest of Latin American Markets for Years 1991, 1995, 2005 & 2010 III-70
• Table 80: Latin American 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991, 1995, 2005 & 2010(includes corresponding Graph/Chart) III-70

7a. Brazil III-71

• A. Market Analysis III-71
• Current & Future Analysis III-71
• Historic Perspective III-71
• B. Market Analytics III-71
• Table 81: Brazilian Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-71
• Table 82: Brazilian Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-72
• Table 83: Brazilian 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991,1995, 2005 & 2010 (includes corresponding Graph/Chart) III-72

7b. Rest of Latin America III-73

• A. Market Analysis III-73
• Mexico III-73
• Distribution Channels III-73
• B. Market Analytics III-74
• Table 84: Rest of Latin American Recent Past, Current & Future Analysis for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 2001 through 2010 (includes corresponding Graph/Chart) III-74
• Table 85: Rest of Latin American Historic Review for Consumption of Titanium Dioxide by End-Use Segment - Paints & Coatings, Plastics, Paper, and Other End-Use Markets Independently Analyzed with Annual Consumption Figures in Thousand Metric Tons for Years 1991 through 2000 (includes corresponding Graph/Chart) III-74
• Table 86: Rest of Latin American 20-Year Perspective for Consumption of Titanium Dioxide by End-Use Segment - Percentage Breakdown of Unit Consumption for Paints & Coatings, Plastics, Paper, and Other End-Use Markets for 1991, 1995, 2005 & 2010(includes corresponding Graph/Chart) III-75

III-B. KEY END-USE MARKETS PERSPECTIVE

1. Paints and Coatings III-76

• Largest Market for TiO2 III-76
• Table 87: World Titanium Dioxide Consumption in Paints & Coatings: Market Estimates/ Projections for 2001-2010 (In ' 000 Metric Tons) (includes corresponding Graph/Chart) III-76
• Importance of TiO2 in Paints and Coatings III-76
• Ultimate Demand III-77
• Industry Trends Affecting TiO2 Market III-77

2. Plastics III-78

• A Dynamic Market III-78
• TiO2 Accounts for 90% of Inorganic Pigments Used in Plastics III-78
• Application in Plastics III-78
• Table 88: World Titanium Dioxide Consumption in Plastics: Market Estimates/ Projections for 2001-2010 (In ' 000 Metric Tons) (includes corresponding Graph/Chart) III-79

3. Paper III-80

• Use of TiO2 in Different Paper Applications III-80
• Worldwide Paper, Paperboard & Pulp Industry: An Overview III-80
• Table 89: World Titanium Dioxide Consumption in Paper Industry: Market Estimates/ Projections for 2001-2010 (In ' 000 Metric Tons) (includes corresponding Graph/Chart) III-81
• New Global Competitors: Asia and Latin America III-81
• Asia and Latin America: Emerging Megamarkets III-81
• Industry Characteristics III-81
• Consolidation Wave Grips Industry III-81
• Virgin Fiber Supplies to Tighten III-81
• Recovered Paper: Major Strategic Resource III-82
• Corporate World Switching to Paperless Offices III-82
• Thermal Paper Industry: Integration, the Key to Survival III-82
• Carbonless Paper: Future Beyond the Electronic Revolution III-82
• CAD/CAM Usage Grows, Paper Becomes Engineering Relic III-82
• Bright Prospects for Tree-free Papers III-82
• Consumers Demand Renewable, Recyclable Packaging III-82
• Technology Trends III-83
• Switch from Acidic to Alkaline Papermaking III-83
• Alkaline Paper: PCC Technology Fast Diffusing III-83
• Future of Chlorine in Papermaking Uncertain III-83
• Predominant Role for Hydrogen Peroxide III-83

4. Other Miscellaneous Applications III-84

• Market Analytics III-84
• Chemical Fibers III-84
• TiO2 Renders a New Look to Fibers III-84
• Titanium dioxide Coated Fibers III-84
• Optical Catalysts III-84
• Opaque Films III-84
• Foods Products III-85
• Ceramics III-85
• Inks III-85
• Table 90: World Titanium Dioxide Consumption in Other Applications: Market Estimates/ Projections for 2001-2010 (In ' 000 Metric Tons) (includes corresponding Graph/Chart) III-85
• Skin Care Products III-86
• Cosmetics III-86
• TiO2 in Pearlescent Pigments III-86
• Market Highlights III-86
• Cosmeceuticals - An Emerging Category III-86
• Consumer Awareness Increases Demand for Suncare Products III-87
• Moisturizers: Leading the Skin Care Products Market III-87
• The Flip Side of Using Skin Whiteners III-88
• Cosmetic Patches - Revolutionizing the Market III-88
• Factors Influencing the Skin Care Industry III-88
• Skin Care Market Trends III-88
• Closing the Gap Between Prestige and Mass Market Brands III-88
• SPF in Day Creams: A Common Feature III-89
• Skin Care Regimens: Extra Initiative III-89
• Consumer Psyche - Basis for Product Development III-89
• Suppliers Aim at Increasing Baby Care Sales III-90
• Growing Popularity of Products That Reduce Cellulite III-90
• Natural Ingredients Finding Acceptance in Skin Care III-90

IV. COMPETITION

• 1. AECI Limited (South Africa) IV-1
• Table 91: Annual Sales Analysis: 2004-2005 (In R million) IV-2
• Table 92: Annual Sales Analysis By Segments: 2004-2005 (In R million) IV-2
• Table 93: Annual Sales Analysis By Region: 2004-2005 (In R million) IV-3
• 2. Altair Nanotechnologies, Inc. (USA) IV-4
• Table 94: First Quarter Sales Analysis: 2005-2006 (Q1) (In US$ million) IV-5
• Table 95: First Quarter Sales Analysis by Segment: 2005-2006 (Q1) (In US$ million) IV-5
• Table 96: First Quarter Sales Analysis by Geographic Region: 2005-2006 (Q1) (In US$ million) IV-6
• Table 97: Annual Sales Analysis: 2004-2005 (In US$ million) IV-6
• Table 98: Annual Sales Analysis by Quarter: 2004-2005 (In US$ million) IV-6
• Table 99: Annual Sales Analysis by Segment: 2004-2005 (In US$ million) IV-6
• Table 100: Annual Sales Analysis by Geographic Region: 2004-2005 (In US$ million) IV-6
• 3. Ampacet Corporation (USA) IV-9
• 4. AP Mineral Development Corporation (APMDC) (India) IV-12
• 5. Ashland, Inc. (USA) IV-13
• Table 101: Half Yearly Sales Analysis: 2005-2006 (H1) (In US$ billion) IV-16
• Table 102: Half Yearly Sales Analysis by Quarter: 2005-2006 (H1) (In US$ billion) IV-16
• Table 103: Half Yearly Sales Analysis by Business Segment: 2005-2006 (H1) (In US$ billion) IV-16
• Table 104: Annual Sales Analysis: 2003-2005 (In US$ billion) IV-16
• Table 105: Annual Sales Analysis by Quarter: 2004-2005 (In US$ billion) IV-17
• Table 106: Annual Sales Analysis by Business Segment: 2004-2005 (In US$ billion) IV-17
• 6. BASF AG (Germany) IV-24
• Table 107: First Quarter Sales Analysis: 2005-2006 (Q1) (In € billion) IV-29
• Table 108: Annual Sales Analysis: 2003-2005 (In € billion) IV-29
• Table 109: Annual Sales Analysis by Quarter: 2003-2004 (In € billion) IV-30
• Table 110: Annual Sales Analysis by Segment: 2003-2004 (In € billion) IV-30
• Table 112: Annual Sales Analysis by Geographic Region: 2003-2004 (In € billion) IV-30
• 7. Cangwu Shunfeng Titanium Dioxide Co., Ltd. (China) IV-49
• 8. Chongqing Xinhua Chemical Plant (China) IV-50
• 9. Ciba Specialty Chemicals North America (USA) IV-51
• 10. Cosmo Chemical Co., Ltd. (Korea) IV-52
• 11. Degussa AG (Germany) IV-53
• Table 113: First Quarter Sales Analysis: 2005-2006 (In € million) IV-57
• Table 114: Annual Sales Analysis: 2003-2005 (In € million) IV-57
• Table 115: Annual Sales Analysis by Segment: 2004-2005 (In € million) IV-57
• 12. E. I. Du Pont De Nemours And Company (USA) IV-62
• Table 116: First Quarter Sales Analysis: 2005-2006 (In US$ billion) IV-66
• Table 117: Annual Sales Analysis: 2003-2005 (In US$ billion) IV-66
• Table 118: Quarterly Sales Analysis: 2004-2005 (In US$ billion) IV-66
• Table 119: Annual Sales Analysis by Segment: 2004-2005 (In US$ billion) IV-66
• Table 120: Annual Sales Analysis by Geographic Region: 2004-2005 (In US$ billion) IV-67
• Dupont Titanium Technologies (USA) IV-74
• Dupont Nylon (USA) IV-75
• Dupont Do Brasil SA (Brazil) IV-77
• Dupont SA de CV (Mexico) IV-78
• First Chemical Corporation (USA) IV-78
• 13. Ferro Corporation (USA) IV-79
• 14. Fuji Titanium Industry Co., Ltd. (Japan) IV-83
• 15. Furukawa Co., Ltd (Japan) IV-84
• Table 121: Annual Sales Analysis: 2004-2005 (In ¥ million) IV-84
• 16. Gfe Gesellschaft Fur Elektrometallurgie MbH (Germany) IV-85
• 17. Go Yen Chemical Industrial Co., Ltd. (Taiwan) IV-85
• 18. Hua Yuan Enterprise Corporation (China) IV-86
• 19. Hunan Zhuzhou Chemical Industry Group Co., Ltd (China) IV-87
• 20. Huntsman Corporation (USA) IV-88
• Table 122: First Quarter Sales Analysis: 2005-2006 (Q1) (In US$ million) IV-90
• Table 123: First Quarter Sales Analysis by Segment: 2005-2006 (Q1) (In US$ million) IV-90
• Table 124: Annual Sales Analysis: 2004-2005 (In US$ million) IV-90
• Table 125: Annual Sales Analysis by Quarter: 2004-2005 (In US$ million) IV-91
• Table 126: Annual Sales Analysis by Segment: 2004-2005 (In US$ million) IV-91
• Table 127: Annual Sales Analysis by Geographic Region: 2004-2005 (In US$ million) IV-91
• 21. Huntsman Tioxide Europe SAS (France) IV-97
• Huntsman Tioxide (UK) IV-97
• Huntsman Tioxide Europe SAS (France) IV-98
• Huntsman Tioxide Southern Africa (PTY), Ltd. (South Africa) IV-98
• 22. Iluka Resources Ltd. (Australia) IV-99
• Table 128: Half Yearly Sales Analysis: 2005-2006 (H1) (In A$ million) IV-99
• Table 129: Half Yearly Sales Analysis by Geographic Region: 2005-2006 (H1) (In A$ million) IV-100
• Table 130: Annual Sales Analysis: 2004-2005 (In A$ million) IV-100
• Table 131: Annual Sales Analysis by Geographical Region: 2004-2005 (In A$ million) IV-100
• 23. Indian Rare Earth Limited (India) IV-102
• 24. Intaba Chemicals (Pty)., Ltd. (South Africa) IV-103
• 25. Ishihara Sangyo Kaisha Ltd. (Japan) IV-104
• Isk Singapore Pte, Ltd. (Singapore) IV-104
• 26. Jiangsu Taibai Group Corporation (China) IV-105
• 27. Jinan Yuxing Import and Export Co., Ltd. (China) IV-106
• 28. Jinan Yuxing Import and Export Co., Ltd. (China) IV-106
• 29. Kemira Oyj (Finland) IV-107
• Table 132: Half Yearly Sales Analysis: 2005-2006 (H1) (In € million) IV-108
• Table 133: Annual Sales Analysis: 2004-2005 (In € million) IV-108
• 30. Kemira Pigments Oy (Finland) IV-112
• Kemira Pigments, Inc. (USA) IV-113
• 31. Kenmare Resources PLC (Ireland) IV-114
• 32. Kerala Minerals And Metals Limited (India) IV-115
• 33. Kerr-McGee Corporation (USA) IV-116
• Table 134: First Quarter Sales Analysis: 2005-2006 (In US$ million) IV-118
• Table 135: Annual Sales Analysis: 2003-2005 (In US$ million) IV-118
• Table 136: Annual Sales Analysis by Segment: 2003-2005 (In US$ million) IV-118
• Kerr-McGee Chemical LLC (USA) IV-120
• Kerr-Mcgee Pigments GmbH & Co. KG (Germany) IV-120
• 34. Kilburn Chemicals Limited (India) IV-121
• 35. Kolmak Chemicals Ltd. (India) IV-122
• 36. Kronos, Inc. (USA) IV-123
• Table 137: First Quarter Sales Analysis: 2005-2006 (Q1) (In USA$ Thousands) IV-123
• Table 138: Annual Sales Analysis: 2004-2005 (In USA$ Thousands) IV-123
• Table 139: Quarterly Sales Analysis: 2004-2005 (In USA$ Thousands) IV-124
• Kronos Europe NV-SA (Belgium) IV-124
• Kronos Titan A/S (Norway) IV-124
• Kronos Titan GmbH and co. OHG (Germany) IV-125
• 37. Lamberti SpA (Italy) IV-126
• 38. Lyondell Chemical Company (USA) IV-132
• Table 140: First Quarter Sales Analysis: 2005-2006 (Q1) (In US$ million) IV-134
• Table 141: Annual Sales Analysis: 2003-2005 (In US$ million) IV-134
• Table 142: Annual Sales Analysis by Segment: 2003-2004 (In US$ million) IV-134
• Millennium Chemicals, Inc. (USA) IV-140
• Table 143: First Quarter Sales Analysis: 2005-2006 (Q1) (In US$ million) IV-140
• Table 144: First Quarter Sales Analysis by Segment: 2005-2006 (Q1) (In US$ million) IV-141
• Table 145: Annual Sales Analysis: 2003-2005 (In US$ million) IV-141
• Table 146: Annual Sales Analysis by Segment: 2004-2005 (In US$ million) IV-141
• Table 147: Annual Sales Analysis by Geographical Region: 2004-2005 (In US$ million) IV-141
• Millennium Inorganic Chemicals Ltd. (Australia) IV-142
• 39. Merck KGaA (Germany) IV-143
• 40. Mitsui Brasileira (Brazil) IV-149
• 41. Nanjing Titanium Dioxide Chemical Co., Ltd. (China) IV-149
• 42. Nanmat Technology Co., Ltd. (Taiwan) IV-150
• 43. Cristal (Saudi Arabia) IV-151
• 44. NL Industries, Inc. (USA) IV-152
• Table 148: Annual Sales Analysis by Business Segment: 2004-2005 (In US$ million) IV-152
• Table 149: Annual Sales Analysis by Geographic Region: 2004-2005 (In US$ million) IV-152
• 45. Nord Resources Corporation (USA) IV-153
• 46. Pangang Titanium Co (China) IV-153
• 47. Precheza (Czech Republic) IV-154
• 48. Precolor A.S., (Czech Republic) IV-155
• 49. Sachtleben Chemie GmbH (Germany) IV-156
• 50. Sakai Chemical Industry Co., Ltd. (Japan) IV-158
• 51. Shandong Dongjia Group (China) IV-159
• 52. Sumitomo Titanium Corporation (Japan) IV-160
• Table 150: Annual Sales Analysis: 2004-2005 (In ¥ million) IV-160
• 53. Tata Steel Limited (Wire Division) (India) IV-161
• 54. Tayca Corporation (Japan) IV-163
• 55. Tiomin Resources, Inc. (Canada) IV-164
• 56. Titan Kogyo Kabushiki Kaisha (Japan) IV-166
• 57. Tiwest Joint Venture (Australia) IV-167
• 58. Toho Zinc Co., Ltd. (Japan) IV-168
• 59. TOR Minerals International, Inc. (USA) IV-169
• Table 151: First Quarter Sales Analysis: 2005-2006 (Q1) (In US$ million) IV-169
• Table 152: First Quarter Sales Analysis by Product Segment: 2005-2006 (Q1) (In US$ million) IV-170
• Table 153: First Quarter Sales Analysis by Geographic Region: 2005-2006 (Q1) (In US$ million) IV-170
• Table 154: Annual Sales Analysis: 2004-2005 (In US$ million) IV-170
• Table 155: Annual Sales Analysis By Product Segment: 2004-2005 (In US$ million) IV-170
• Table 156: Annual Sales Analysis by Geographic Region: 2004-2005 (In US$ million) IV-171
• 60. Toshiba Ceramics Co., Ltd. (Japan) IV-172
• Table 157: Annual Sales Analysis 2003-2005 (In ¥ million) IV-172
• 61. Travancore Titanium Products Ltd. (India) IV-173
• 62. Tronox Inc. (USA) IV-174
• Table 158: First Quarter Sales Analysis: 2005-2006 (In US$ million) IV-175
• Table 159: First Quarter Sales Analysis By Segments: 2005-2006 (In US$ million) IV-175
• Table 160: Annual Sales Analysis: 2003-2005 (In US$ million) IV-175
• 63. Zhenjiang Titanium Dioxide Co., Ltd. (China) IV-176