Hong Kong SAR, China: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in Hong Kong SAR, China

The Hong Kong titanium dioxide pigments market shrank dramatically to $X in 2021, which is down by -16.7% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then dropped sharply in the following year.

Titanium Dioxide Pigments Production in Hong Kong SAR, China

In value terms, titanium dioxide pigments production contracted significantly to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 47%. As a result, production attained the peak level of $X, and then shrank sharply in the following year.

Titanium Dioxide Pigments Exports

Exports from Hong Kong SAR, China

In 2021, approx. X tons of titanium dioxide pigments and colouring preparations were exported from Hong Kong SAR; rising by 81% compared with the previous year. Overall, exports, however, saw a deep setback. Over the period under review, the exports attained 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 pigments exports soared to $X in 2021. In general, exports, however, saw a abrupt contraction. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), Vietnam (X tons) and India (X tons) were the main destinations of titanium dioxide pigments exports from Hong Kong SAR, with a combined 90% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +125.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for titanium dioxide pigments exported from Hong Kong SAR were China ($X), Vietnam ($X) and India ($X), with a combined 84% share of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of +140.6%, recorded the highest rates of growth with regard to the value of exports, 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 pigments export price amounted to $X per ton, dropping by -3.8% against the previous year. Over the period under review, the export price saw a mild downturn. The pace of growth was the most pronounced in 2017 an increase of 50% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were China ($X per ton) and Cambodia ($X per ton), while the average price for exports to Vietnam ($X per ton) and India ($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 Vietnam (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Dioxide Pigments Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of titanium dioxide pigments and colouring preparations was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports showed a measured expansion. The most prominent rate of growth was recorded in 2018 with an increase of 131% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, titanium dioxide pigments imports surged to $X in 2021. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 89% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Mexico (X tons) constituted the largest supplier of titanium dioxide pigments to Hong Kong SAR, with a 51% share of total imports. Moreover, titanium dioxide pigments imports from Mexico exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Mexico stood at +164.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+2.8% per year) and the United States (-8.5% per year).

In value terms, Mexico ($X) constituted the largest supplier of titanium dioxide pigments and colouring preparations to Hong Kong SAR, comprising 43% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 16% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico amounted to +164.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+1.7% per year) and the United States (-14.4% per year).

Import Prices by Country

In 2021, the average titanium dioxide pigments import price amounted to $X per ton, with an increase of 16% against the previous year. In general, the import price, however, showed a noticeable curtailment. The pace of growth appeared the most rapid in 2017 when the average import price increased by 55% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Mexico ($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 (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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