Eastern Asia: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in Eastern Asia

The East Asian titanium dioxide market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Titanium Dioxide Production in Eastern Asia

In value terms, titanium dioxide production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 17%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Titanium Dioxide Exports

Exports in Eastern Asia

In 2021, overseas shipments of titanium dioxide increased by 3.5% to X tons, rising for the fifth consecutive year after two years of decline. The total export volume 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 in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 41%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, titanium dioxide exports surged to $X in 2021. The total export value increased at an average annual rate of +1.1% 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 32% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

China represented the largest exporter of titanium dioxide in Eastern Asia, with the volume of exports amounting to X tons, which was near 61% of total exports in 2021. South Korea (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Japan (15%). Hong Kong SAR (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the titanium dioxide exports, with a CAGR of +6.6% from 2012 to 2021. At the same time, Japan (+3.0%) displayed positive paces of growth. By contrast, South Korea (-2.3%) and Hong Kong SAR (-6.6%) illustrated a downward trend over the same period. While the share of China (+17 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-4.6 p.p.) and South Korea (-11.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest titanium dioxide supplier in Eastern Asia, comprising 54% of total exports. The second position in the ranking was taken by Japan ($X), with a 25% share of total exports. It was followed by South Korea, with a 17% share.

In China, titanium dioxide exports increased at an average annual rate of +6.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+0.9% per year) and South Korea (-4.9% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, surging by 22% against the previous year. Over the period under review, the export price, however, saw a slight decrease. The most prominent rate of growth was recorded in 2016 an increase of 27% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat 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 Japan ($X per ton), while South Korea ($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 Eastern Asia

In 2021, overseas purchases of titanium dioxide increased by 11% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, recorded a pronounced descent. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, titanium dioxide imports surged to $X in 2021. Overall, imports, however, showed a pronounced reduction. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The purchases of the four major importers of titanium dioxide, namely Japan, South Korea, China and Taiwan (Chinese), represented more than two-thirds of total import. It was distantly followed by Hong Kong SAR (X tons), generating a 7.3% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +4.2%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 73% share of total imports.

South Korea, with a CAGR of +0.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, with an increase of 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2017 when the import price increased by 13%. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while Japan ($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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