GCC: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in GCC

The GCC titanium dioxide market fell to $X in 2021, with a decrease of -7% against the previous year. Overall, consumption saw a perceptible contraction. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Titanium Dioxide Production in GCC

In value terms, titanium dioxide production fell slightly to $X in 2021 estimated in export price. In general, production showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 15% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Titanium Dioxide Exports

Exports in GCC

After three years of decline, overseas shipments of titanium dioxide increased by 42% to X tons in 2021. Over the period under review, exports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2017 when exports increased by 54% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, titanium dioxide exports soared to $X in 2021. Overall, exports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2017 with an increase of 54%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia prevails in exports structure, recording X tons, which was approx. 97% of total exports in 2021. The United Arab Emirates (X tons) held a relatively small share of total exports.

Saudi Arabia was also the fastest-growing in terms of the titanium dioxide exports, with a CAGR of -8.8% from 2012 to 2021. The United Arab Emirates (-14.7%) illustrated a downward trend over the same period. Saudi Arabia (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -2.3% from 2012 to 2021, respectively.

In value terms, Saudi Arabia ($X) remains the largest titanium dioxide supplier in GCC, comprising 97% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 2.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia totaled -9.9%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, with an increase of 6.4% against the previous year. Overall, the export price, however, showed a mild setback. The most prominent rate of growth was recorded in 2018 when the export price increased by 30%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-1.2%).

Titanium Dioxide Imports

Imports in GCC

Titanium dioxide imports fell to X tons in 2021, reducing by -6% on 2020 figures. In general, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 71% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, titanium dioxide imports dropped modestly to $X in 2021. Over the period under review, imports, however, posted a strong increase. The growth pace was the most rapid in 2017 when imports increased by 85%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) was the largest importer of titanium dioxide, committing 57% of total imports. It was distantly followed by the United Arab Emirates (X tons), achieving a 33% share of total imports. The following importers - Kuwait (X tons), Oman (X tons), Qatar (X tons) and Bahrain (X tons) - together made up 9.9% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key 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, the largest titanium dioxide importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined 95% share of total imports. These countries were followed by Oman, Qatar and Bahrain, which together accounted for a further 5.4%.

Among the main importing countries, Oman, with a CAGR of +20.1%, saw 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 GCC amounted to $X per ton, growing by 4.7% against the previous year. Overall, the import price, however, saw a mild slump. The growth pace was the most rapid in 2018 when the import price increased by 43% against the previous year. 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 Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton), while Oman ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+2.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform