Asia: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in Asia

In 2021, the Asian titanium dioxide market increased by 8.5% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Titanium Dioxide Production in Asia

In value terms, titanium dioxide production expanded sharply to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Titanium Dioxide Exports

Exports in Asia

For the third consecutive year, Asia recorded growth in shipments abroad of titanium dioxide, which increased by 25% to X tons in 2021. The total export volume increased at an average annual rate of +4.0% over the period 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 2017 when exports increased by 41%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, titanium dioxide exports soared to $X in 2021. Total exports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the largest exporting country with an export of about X tons, which finished at 46% of total exports. It was distantly followed by India (X tons), South Korea (X tons) and Japan (X tons), together achieving a 44% share of total exports. The following exporters - Indonesia (X tons), Hong Kong SAR (X tons) and Saudi Arabia (X tons) - together made up 7.9% of total exports.

From 2012 to 2021, average annual rates of growth with regard to titanium dioxide exports from China stood at +6.6%. At the same time, Indonesia (+49.7%), India (+27.4%) and Japan (+3.0%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +49.7% from 2012-2021. By contrast, South Korea (-2.3%), Hong Kong SAR (-6.6%) and Saudi Arabia (-8.8%) illustrated a downward trend over the same period. India (+14 p.p.), China (+9.1 p.p.) and Indonesia (+3.1 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR, Saudi Arabia and South Korea saw its share reduced by -4.1%, -5.2% and -11.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest titanium dioxide supplier in Asia, comprising 43% of total exports. The second position in the ranking was taken by Japan ($X), with a 20% share of total exports. It was followed by India, with a 15% share.

In China, titanium dioxide exports expanded at an average annual rate of +6.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+0.9% per year) and India (+22.3% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, rising by 17% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced reduction. The growth pace was the most rapid in 2016 an increase of 23% against the previous year. 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.

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 Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.5%), while the other leaders experienced a decline in the export price figures.

Titanium Dioxide Imports

Imports in Asia

In 2021, after three years of decline, there was significant growth in overseas purchases of titanium dioxide, when their volume increased by 13% to X tons. In general, imports, however, recorded a mild curtailment. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, titanium dioxide imports skyrocketed to $X in 2021. Overall, imports, however, showed a mild contraction. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the twelve major importers of titanium dioxide, namely Vietnam, India, Japan, South Korea, China, Taiwan (Chinese), Saudi Arabia, Turkey, Indonesia, Malaysia, Thailand and the United Arab Emirates, represented more than two-thirds of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the United Arab Emirates (with a CAGR of +18.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2021, with a combined 34% share of total imports. Japan, South Korea, Taiwan (Chinese), Saudi Arabia, Turkey, Indonesia, the United Arab Emirates, Thailand and Malaysia lagged somewhat behind, together comprising a further 51%.

Among the main importing countries, the United Arab Emirates, with a CAGR of +17.0%, recorded the highest rates of growth with regard to 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

The import price in Asia stood at $X per ton in 2021, increasing by 8.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 16%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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