Latin America and the Caribbean: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in Latin America and the Caribbean

The Latin American titanium dioxide pigments market surged to $X in 2021, jumping by 18% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the near future.

Titanium Dioxide Pigments Production in Latin America and the Caribbean

In value terms, titanium dioxide pigments production reduced to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 25% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then reduced in the following year.

Titanium Dioxide Pigments Exports

Exports in Latin America and the Caribbean

Titanium dioxide pigments exports reduced rapidly to X tons in 2021, declining by -32.1% against 2020. Over the period under review, exports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2019 when exports increased by 64% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, titanium dioxide pigments exports declined remarkably to $X in 2021. In general, exports continue to indicate a abrupt slump. The growth pace was the most rapid in 2017 with an increase of 81% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the five major exporters of titanium dioxide pigments and colouring preparations, namely Mexico, Brazil, Chile, Colombia and Argentina, represented more than two-thirds of total export. The following exporters - Peru (X tons) and Uruguay (X tons) - each finished at a 4.6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Peru (with a CAGR of +16.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest titanium dioxide pigments supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Chile ($X), with a combined 72% share of total exports.

In terms of the main exporting countries, Chile, with a CAGR of +11.8%, recorded 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 export price in Latin America and the Caribbean stood at $X per ton in 2021, picking up by 3.7% against the previous year. Export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the export price increased by 27% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+6.5%), while the other leaders experienced a decline in the export price figures.

Titanium Dioxide Pigments Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of titanium dioxide pigments and colouring preparations increased by 13% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 16%. 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. Overall, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Brazil (X tons) and Mexico (X tons) were the main importers of titanium dioxide pigments and colouring preparations in Latin America and the Caribbean, together constituting 59% of total imports. It was distantly followed by Argentina (X tons), Colombia (X tons) and Chile (X tons), together creating a 24% share of total imports. The following importers - Peru (X tons) and the Dominican Republic (X tons) - together made up 6.6% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Dominican Republic (with a CAGR of +10.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest titanium dioxide pigments importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Argentina ($X), together accounting for 69% of total imports. These countries were followed by Colombia, Chile, Peru and the Dominican Republic, which together accounted for a further 20%.

The Dominican Republic, with a CAGR of +8.7%, saw the highest growth rate of the value of imports, among the main importing countries 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 Latin America and the Caribbean amounted to $X per ton, growing by 18% against the previous year. Overall, the import price, however, saw a noticeable curtailment. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Argentina ($X per ton) and the Dominican Republic ($X per ton), while Peru ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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