China: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in China

In 2021, the Chinese titanium dioxide market increased by 17% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is likely to see gradual growth in the near future.

Titanium Dioxide Production in China

In value terms, titanium dioxide production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2021; 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 34% against the previous year. Titanium dioxide production peaked in 2021 and is expected to retain growth in years to come.

Titanium Dioxide Exports

Exports from China

In 2021, after four years of growth, there was decline in overseas shipments of titanium dioxide, when their volume decreased by -1.4% to X tons. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +116.5% against 2016 indices. The growth pace was the most rapid in 2017 when exports increased by 66%. Over the period under review, the exports reached the maximum at X tons in 2020, and then fell in the following year.

In value terms, titanium dioxide exports skyrocketed to $X in 2021. Overall, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +28.1% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 36% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in years to come.

Exports by Country

Brazil (X tons), Vietnam (X tons) and India (X tons) were the main destinations of titanium dioxide exports from China, with a combined 45% share of total exports. These countries were followed by Japan, Spain, South Korea, Thailand, Egypt, Indonesia, Mexico, the United States, Turkey and Belgium, which together accounted for a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Egypt (with a CAGR of +31.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for titanium dioxide exported from China were Brazil ($X), Vietnam ($X) and India ($X), with a combined 43% share of total exports. South Korea, Japan, Spain, Thailand, Indonesia, Egypt, the United States, Mexico, Turkey and Belgium lagged somewhat behind, together comprising a further 45%.

Egypt, with a CAGR of +29.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average titanium dioxide export price amounted to $X per ton, picking up by 36% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 51% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and South Korea ($X per ton), while the average price for exports to Egypt ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.1%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Dioxide Imports

Imports into China

In 2021, after two years of growth, there was significant decline in purchases abroad of titanium dioxide, when their volume decreased by -7.1% to X tons. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 57% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, titanium dioxide imports rose rapidly to $X in 2021. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 41%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

France (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of titanium dioxide imports to China, together comprising 87% of total imports. Canada, the Czech Republic and Italy lagged somewhat behind, together comprising a further 10%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +133.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest titanium dioxide suppliers to China were Japan ($X), France ($X) and Germany ($X), together comprising 83% of total imports. These countries were followed by Canada, the Czech Republic and Italy, which together accounted for a further 8.7%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +99.2%, saw 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 average titanium dioxide import price stood at $X per ton in 2021, picking up by 18% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 67% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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