ASEAN: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in ASEAN

The ASEAN titanium dioxide market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Titanium Dioxide Production in ASEAN

In value terms, titanium dioxide production stood at $X in 2021 estimated in export price. Over the period under review, production, however, recorded a mild descent. The pace of growth appeared the most rapid in 2014 when the production volume increased by 45% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Titanium Dioxide Exports

Exports in ASEAN

In 2021, the amount of titanium dioxide exported in ASEAN soared to X tons, rising by 80% compared with the previous year. Over the period under review, exports continue to indicate a pronounced increase. The most prominent rate of growth was recorded in 2019 when exports increased by 112%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, titanium dioxide exports soared to $X in 2021. In general, exports, however, continue to indicate a abrupt contraction. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia was the major exporter of titanium dioxide in ASEAN, with the volume of exports reaching X tons, which was approx. 68% of total exports in 2021. Singapore (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (9.8%) and Vietnam (5.2%). Thailand (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the titanium dioxide exports, with a CAGR of +49.7% from 2012 to 2021. At the same time, Vietnam (+20.4%) and Thailand (+2.9%) displayed positive paces of growth. By contrast, Singapore (-6.2%) and Malaysia (-15.8%) illustrated a downward trend over the same period. While the share of Indonesia (+66 p.p.) and Vietnam (+4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-18.9 p.p.) and Malaysia (-50.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest titanium dioxide supplying countries in ASEAN were Indonesia ($X), Singapore ($X) and Malaysia ($X), with a combined 90% share of total exports.

Among the main exporting countries, Indonesia, with a CAGR of +29.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, falling by -4.4% against the previous year. In general, the export price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when the export price increased by 19%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+0.6%), while the other leaders experienced mixed trends in the export price figures.

Titanium Dioxide Imports

Imports in ASEAN

In 2021, the amount of titanium dioxide imported in ASEAN surged to X tons, picking up by 25% on 2020. In general, imports showed mild growth. The growth pace was the most rapid in 2016 with an increase of 31% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, titanium dioxide imports surged to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Vietnam (X tons) was the main importer of titanium dioxide, committing 44% of total imports. Indonesia (X tons) ranks second in terms of the total imports with a 13% share, followed by Malaysia (12%), Thailand (11%), the Philippines (10%) and Myanmar (8.2%). Singapore (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to titanium dioxide imports into Vietnam stood at +9.7%. At the same time, Myanmar (+11.8%), Thailand (+4.9%) and the Philippines (+2.1%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +11.8% from 2012-2021. By contrast, Indonesia (-6.2%), Malaysia (-7.1%) and Singapore (-15.8%) illustrated a downward trend over the same period. Vietnam (+23 p.p.), Myanmar (+4.9 p.p.) and Thailand (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Indonesia and Malaysia saw its share reduced by -7.4%, -11.8% and -13% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported titanium dioxide in ASEAN, comprising 40% of total imports. The second position in the ranking was held by Indonesia ($X), with a 15% share of total imports. It was followed by the Philippines, with a 13% share.

In Vietnam, titanium dioxide imports expanded at an average annual rate of +10.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (-7.3% per year) and the Philippines (+17.1% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, picking up by 4.1% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 17% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+14.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform