DuPont has said it remains on track to complete the planned expansion of its existing high-efficiency, low-cost titanium dioxide (TiO₂) facility in Altamira, Mexico in 2015 and begin production at the plant in 2016.

In the recent past there had been speculation that the project might not go ahead, as the market has been dogged by poor prices. The business belongs to the US chemical group's Performance Chemicals segment, planned to be spun off to shareholders next year.

The plant is designed to improve the efficiency of TiO₂ production and increase its flexibility to respond to global demands, the group said.

DuPont noted that annual global TiO₂ market growth tracks global GDP, requiring about 150,000 to 200,000 tonnes of additional product to serve supply customers each year. Based on its current market outlook, the group expects demand to "increase gradually in the 2016-2018 time frame."

The chemical giant will leverage the cost advantage of its Altamira facility at start-up in 2016 and continue to remain well-positioned to deliver high-quality titanium dioxide to meet customers' changing needs, said BC Chong, president of DuPont Titanium Technologies.

DuPont claims global leadership of the TiO2 industry.