Greece: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in Greece

The Greek titanium dioxide market dropped notably to $X in 2021, with a decrease of -16.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a abrupt contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Titanium Dioxide Exports

Exports from Greece

In 2021, approx. X tons of titanium dioxide were exported from Greece; jumping by 180% compared with the year before. Overall, exports, however, showed a precipitous shrinkage. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, titanium dioxide exports soared to $X in 2021. In general, exports, however, recorded a dramatic setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X tons), Serbia (X kg) and Albania (X kg) were the main destinations of titanium dioxide exports from Greece, together accounting for 68% of total exports. These countries were followed by Cyprus, Malta and Romania, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malta (with a CAGR of +203.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for titanium dioxide exported from Greece were Serbia ($X), Albania ($X) and Malta ($X), together comprising 63% of total exports.

Malta, with a CAGR of +211.1%, saw the highest rates of growth with regard to the value of exports, among 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

The average titanium dioxide export price stood at $X per ton in 2021, with a decrease of -5.6% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, titanium dioxide export price increased by +74.2% against 2014 indices. The most prominent rate of growth was recorded in 2019 an increase of 47%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Dioxide Imports

Imports into Greece

In 2021, the amount of titanium dioxide imported into Greece fell markedly to X tons, waning by -17.5% on 2020. In general, imports saw a deep contraction. The growth pace was the most rapid in 2019 when imports increased by 85%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, titanium dioxide imports shrank to $X in 2021. Over the period under review, imports showed a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 37%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), Bulgaria (X tons) and China (X tons) were the main suppliers of titanium dioxide imports to Greece, together comprising 87% of total imports. Germany, France, Spain and Belgium lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +58.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Bulgaria ($X) and China ($X) appeared to be the largest titanium dioxide suppliers to Greece, together comprising 72% of total imports. These countries were followed by France, Germany, Spain and Belgium, which together accounted for a further 26%.

In terms of the main suppliers, Spain, with a CAGR of +44.8%, 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 average titanium dioxide import price amounted to $X per ton, growing by 9.2% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 55%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

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 France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+33.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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