India: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in India

In 2021, the Indian titanium dioxide pigments market was finally on the rise to reach $X after two years of decline. Overall, consumption showed a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Titanium Dioxide Pigments Production in India

In value terms, titanium dioxide pigments production rose slightly to $X in 2021 estimated in export price. In general, production showed a deep contraction. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Titanium Dioxide Pigments Exports

Exports from India

In 2021, the amount of titanium dioxide pigments and colouring preparations exported from India totaled X tons, with an increase of 10% against 2020 figures. Overall, total exports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +13.0% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 59% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, titanium dioxide pigments exports surged to $X in 2021. Over the period under review, total exports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 61% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Kenya (X tons), the United Arab Emirates (X tons) and Bangladesh (X tons) were the main destinations of titanium dioxide pigments exports from India, with a combined 27% share of total exports. Turkey, the United States, Uganda, Russia, South Africa, Nigeria, Sri Lanka, Nepal, Ecuador and Tanzania lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nepal (with a CAGR of +35.7%), while the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X), Turkey ($X) and Kenya ($X) appeared to be the largest markets for titanium dioxide pigments exported from India worldwide, together comprising 25% of total exports. The United States, the United Arab Emirates, Russia, Sri Lanka, Nigeria, South Africa, Nepal, Uganda, Tanzania and Ecuador lagged somewhat behind, together accounting for a further 38%.

Among the main countries of destination, Nepal, with a CAGR of +30.3%, saw the highest growth rate of 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

The average titanium dioxide pigments export price stood at $X per ton in 2021, surging by 21% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Uganda ($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 Sri Lanka (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Dioxide Pigments Imports

Imports into India

Titanium dioxide pigments imports into India surged to X tons in 2021, with an increase of 33% compared with 2020. Overall, imports saw a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, titanium dioxide pigments imports surged to $X in 2021. In general, imports enjoyed a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest titanium dioxide pigments supplier to India, accounting for a 55% share of total imports. Moreover, titanium dioxide pigments imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), fivefold. The third position in this ranking was held by the United States (X tons), with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+10.8% per year) and the United States (-1.8% per year).

In value terms, China ($X) constituted the largest supplier of titanium dioxide pigments and colouring preparations to India, comprising 54% of total imports. The second position in the ranking was taken by Australia ($X), with a 12% share of total imports. It was followed by the United States, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +23.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+8.8% per year) and the United States (-3.5% per year).

Import Prices by Country

In 2021, the average titanium dioxide pigments import price amounted to $X per ton, rising by 23% against the previous year. In general, the import price, however, recorded a slight curtailment. The pace of growth appeared the most rapid in 2017 an increase of 26% 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 stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and Malaysia ($X per ton), while the price for Saudi Arabia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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