Asia-Pacific: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in Asia-Pacific

In 2021, the Asia-Pacific titanium dioxide pigments market decreased by -7.3% to $X, falling for the third year in a row after two years of growth. Overall, consumption recorded a pronounced setback. The most prominent rate of growth was recorded in 2017 when the market value increased by 5.5%. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Titanium Dioxide Pigments Production in Asia-Pacific

In value terms, titanium dioxide pigments production declined to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 18%. The level of production peaked at $X in 2020, and then shrank in the following year.

Titanium Dioxide Pigments Exports

Exports in Asia-Pacific

In 2021, approx. X tons of titanium dioxide pigments and colouring preparations were exported in Asia-Pacific; growing by 13% compared with the previous year's figure. Over the period under review, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, titanium dioxide pigments exports soared to $X in 2021. Overall, exports posted prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, accounting for X tons, which was approx. 81% of total exports in 2021. Australia (X tons) held a 6.3% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (5.9%). The following exporters - Japan (X tons) and Malaysia (X tons) - each resulted at a 3.5% share of total exports.

China was also the fastest-growing in terms of the titanium dioxide pigments and colouring preparations exports, with a CAGR of +14.6% from 2012 to 2021. At the same time, Taiwan (Chinese) (+7.2%), Australia (+3.3%), Malaysia (+2.1%) and Japan (+2.0%) displayed positive paces of growth. China (+20 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia, Taiwan (Chinese), Japan and Australia saw its share reduced by -1.9%, -2.2%, -2.2% and -5.8% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest titanium dioxide pigments supplier in Asia-Pacific, comprising 80% of total exports. The second position in the ranking was held by Australia ($X), with a 6.5% share of total exports. It was followed by Taiwan (Chinese), with a 6% share.

In China, titanium dioxide pigments exports increased at an average annual rate of +13.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (+2.8% per year) and Taiwan (Chinese) (+11.7% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, surging by 36% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Japan ($X per ton) and Malaysia ($X per ton), while China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.2%), while the other leaders experienced a decline in the export price figures.

Titanium Dioxide Pigments Imports

Imports in Asia-Pacific

In 2021, after three years of decline, there was significant growth in purchases abroad of titanium dioxide pigments and colouring preparations, when their volume increased by 17% to X tons. The total import volume increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 17% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, titanium dioxide pigments imports soared to $X in 2021. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons) and India (X tons) represented the largest importers of titanium dioxide pigments and colouring preparations in 2021, amounting to near 26% and 22% of total imports, respectively. South Korea (X tons) ranks next in terms of the total imports with a 10% share, followed by Indonesia (7%), Vietnam (6.9%) and Thailand (6.3%). Malaysia (X tons), Taiwan (Chinese) (X tons), Japan (X tons), the Philippines (X tons), Pakistan (X tons), Australia (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +14.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 63% of total imports. Vietnam, Indonesia, Taiwan (Chinese), Malaysia, Japan, the Philippines, Pakistan, Australia and Singapore lagged somewhat behind, together accounting for a further 34%.

Among the main importing countries, Vietnam, with a CAGR of +15.8%, recorded the highest growth rate of the value of imports, 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 Asia-Pacific amounted to $X per ton, picking up by 16% against the previous year. In general, the import price, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2017 an increase of 23% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in China ($X per ton) and Taiwan (Chinese) ($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

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