Asia: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in Asia

In 2021, the Asian titanium dioxide pigments market decreased by -3.6% to $X, falling for the third year in a row after two years of growth. In general, consumption continues to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2017 when the market value increased by 7.4%. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Titanium Dioxide Pigments Production in Asia

In value terms, titanium dioxide pigments production declined to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 17%. The level of production peaked at $X in 2020, and then shrank modestly in the following year.

Titanium Dioxide Pigments Exports

Exports in Asia

For the sixth consecutive year, Asia recorded growth in overseas shipments of titanium dioxide pigments and colouring preparations, which increased by 13% to X tons in 2021. In general, exports showed prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of 32% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, titanium dioxide pigments exports skyrocketed to $X in 2021. Overall, exports recorded a strong increase. 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, resulting at X tons, which was near 84% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), making up a 6.1% share of total exports. Saudi Arabia (X tons), Japan (X tons) and Malaysia (X tons) followed a long way behind the leaders.

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%), Malaysia (+2.1%) and Japan (+2.0%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. China (+20 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia, Japan, Taiwan (Chinese) and Saudi Arabia saw its share reduced by -2%, -2.3%, -2.4% and -4.8% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest titanium dioxide pigments supplier in Asia, comprising 83% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 6.3% share of total exports. It was followed by Saudi Arabia, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +13.9%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+11.7% per year) and Saudi Arabia (-1.8% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 38% 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 hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

In 2021, overseas purchases of titanium dioxide pigments and colouring preparations increased by 16% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 16% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, titanium dioxide pigments imports soared to $X in 2021. The total import value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons) and India (X tons) represented roughly 40% of total imports in 2021. Turkey (X tons) ranks next in terms of the total imports with a 9.2% share, followed by South Korea (8.4%), Indonesia (5.9%), Vietnam (5.7%) and Thailand (5.2%). The United Arab Emirates (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons), Japan (X tons), the Philippines (X tons) and Israel (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main 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, China ($X), India ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2021, together comprising 53% of total imports. These countries were followed by South Korea, Vietnam, Indonesia, Taiwan (Chinese), Malaysia, the United Arab Emirates, Japan, the Philippines and Israel, which together accounted for a further 37%.

Vietnam, with a CAGR of +15.8%, recorded the highest growth rate of 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 Asia amounted to $X per ton, picking up by 17% against the previous year. Overall, the import price, however, showed a mild decrease. The pace of growth was the most pronounced in 2017 when the import price increased by 23%. 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 somewhat 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 the United Arab Emirates ($X per ton) and the Philippines ($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

Frequently Asked Questions (FAQ) :