GCC: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in GCC

In 2021, after six years of growth, there was significant decline in the GCC titanium dioxide pigments market, when its value decreased by -5.6% to $X. Over the period under review, consumption, however, enjoyed a resilient expansion. Over the period under review, the market hit record highs at $X in 2020, and then contracted in the following year.

Titanium Dioxide Pigments Production in GCC

In value terms, titanium dioxide pigments production declined to $X in 2021 estimated in export price. The total production indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.9% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 37% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Titanium Dioxide Pigments Exports

Exports in GCC

In 2021, after two years of decline, there was significant growth in shipments abroad of titanium dioxide pigments and colouring preparations, when their volume increased by 41% to X tons. Over the period under review, exports, however, saw a relatively flat trend pattern. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, titanium dioxide pigments exports skyrocketed to $X in 2021. In general, exports, however, recorded a slight decline. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia dominates exports structure, amounting to X tons, which was approx. 96% of total exports in 2021. The United Arab Emirates (X tons) followed a long way behind the leaders.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of titanium dioxide pigments and colouring preparations. At the same time, the United Arab Emirates (+1.9%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of +1.9% from 2012-2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest titanium dioxide pigments supplier in GCC, comprising 96% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 3.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia amounted to -1.8%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, surging by 13% against the previous year. Over the period under review, the export price, however, showed a slight downturn. The pace of growth was the most pronounced in 2017 an increase of 29%. 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.

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 amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-1.0%).

Titanium Dioxide Pigments Imports

Imports in GCC

In 2021, the amount of titanium dioxide pigments and colouring preparations imported in GCC reached X tons, with an increase of 12% against the previous year. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +60.6% against 2018 indices. The growth pace was the most rapid in 2019 when imports increased by 39%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, titanium dioxide pigments imports surged to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +113.1% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates was the major importing country with an import of about X tons, which accounted for 65% of total imports. It was distantly followed by Saudi Arabia (X tons), Oman (X tons) and Kuwait (X tons), together achieving a 31% share of total imports. The following importers - Qatar (X tons) and Bahrain (X tons) - together made up 4.2% of total imports.

From 2012 to 2021, average annual rates of growth with regard to titanium dioxide pigments imports into the United Arab Emirates stood at +7.4%. At the same time, Kuwait (+21.6%), Qatar (+19.2%), Oman (+16.2%), Saudi Arabia (+7.4%) and Bahrain (+1.3%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +21.6% from 2012-2021. Kuwait (+3.4 p.p.) and Oman (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -5.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported titanium dioxide pigments and colouring preparations in GCC, comprising 67% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 16% share of total imports. It was followed by Oman, with a 7.8% share.

In the United Arab Emirates, titanium dioxide pigments imports expanded at an average annual rate of +5.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+1.6% per year) and Oman (+13.6% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, with an increase of 15% against the previous year. In general, the import price, however, showed a noticeable decrease. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Bahrain ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform