ASEAN: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in ASEAN

In 2021, the ASEAN titanium dioxide pigments market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Titanium Dioxide Pigments Production in ASEAN

In value terms, titanium dioxide pigments production expanded notably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of 21%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Titanium Dioxide Pigments Exports

Exports in ASEAN

In 2021, approx. X tons of titanium dioxide pigments and colouring preparations were exported in ASEAN; growing by 32% compared with 2020. In general, exports, however, recorded a noticeable setback. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, titanium dioxide pigments exports soared to $X in 2021. Overall, exports, however, recorded a abrupt downturn. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia was the major exporting country with an export of about X tons, which recorded 56% of total exports. It was distantly followed by Singapore (X tons), Thailand (X tons) and Vietnam (X tons), together committing a 43% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to titanium dioxide pigments exports from Malaysia stood at +2.1%. At the same time, Vietnam (+13.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +13.2% from 2012-2021. Thailand experienced a relatively flat trend pattern. By contrast, Singapore (-11.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Malaysia, Vietnam and Thailand increased by +23, +4.1 and +3.8 percentage points, respectively.

In value terms, Malaysia ($X), Singapore ($X) and Vietnam ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 99% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +19.8%, 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

In 2021, the export price in ASEAN amounted to $X per ton, increasing by 13% against the previous year. Over the period under review, the export price, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2017 an increase of 16%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a 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 Vietnam ($X per ton), while Malaysia ($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 (+5.8%), while the other leaders experienced mixed trends in the export price figures.

Titanium Dioxide Pigments Imports

Imports in ASEAN

In 2021, approx. X tons of titanium dioxide pigments and colouring preparations were imported in ASEAN; increasing by 16% on the previous year. The total import volume increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 17%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, titanium dioxide pigments imports skyrocketed to $X in 2021. Overall, imports saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X tons), Vietnam (X tons) and Thailand (X tons) was the main importer of titanium dioxide pigments and colouring preparations in ASEAN, achieving 71% of total import. It was distantly followed by Malaysia (X tons), the Philippines (X tons) and Singapore (X tons), together constituting a 28% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +14.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 80% of total imports.

Vietnam, with a CAGR of +15.8%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, with an increase of 21% against the previous year. Over the period under review, the import price, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2017 an increase of 21% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Vietnam ($X per ton) and Indonesia ($X per ton), while Singapore ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform