Latin America and the Caribbean: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in Latin America and the Caribbean

In 2021, the Latin American titanium dioxide market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded a slight curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Titanium Dioxide Production in Latin America and the Caribbean

In value terms, titanium dioxide production stood at $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Titanium Dioxide Exports

Exports in Latin America and the Caribbean

In 2021, titanium dioxide exports in Latin America and the Caribbean dropped modestly to X tons, reducing by -1.5% compared with the year before. Overall, exports showed a noticeable curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 24% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, titanium dioxide exports surged to $X in 2021. Over the period under review, exports showed a drastic downturn. The pace of growth was the most pronounced in 2017 when exports increased by 32%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X tons) and Mexico (X tons) prevails in exports structure, together generating 73% of total exports. It was distantly followed by Brazil (X tons) and Peru (X tons), together mixing up a 12% share of total exports. The Dominican Republic (X tons), Barbados (X tons) and Suriname (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +25.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Guatemala ($X) and Brazil ($X) constituted the countries with the highest levels of exports in 2021, with a combined 81% share of total exports.

Guatemala, with a CAGR of +25.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, picking up by 17% against the previous year. Overall, the export price, however, recorded a perceptible setback. The level of export peaked at $X per ton in 2012; however, from 2013 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 the Dominican Republic ($X per ton), while Barbados ($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 Dominican Republic (+0.8%), while the other leaders experienced a decline in the export price figures.

Titanium Dioxide Imports

Imports in Latin America and the Caribbean

Titanium dioxide imports soared to X tons in 2021, with an increase of 24% against 2020 figures. Overall, imports, however, continue to indicate a pronounced contraction. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, titanium dioxide imports surged to $X in 2021. In general, imports, however, recorded a perceptible descent. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) represented the key importer of titanium dioxide, committing 58% of total imports. Mexico (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Guatemala (5.3%). Colombia (X tons), Chile (X tons), Peru (X tons), El Salvador (X tons), Argentina (X tons) and Ecuador (X tons) took a relatively small share of total imports.

Imports into Brazil increased at an average annual rate of +11.5% from 2012 to 2021. At the same time, El Salvador (+65.8%), Peru (+21.7%), Guatemala (+16.8%) and Colombia (+2.7%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +65.8% from 2012-2021. By contrast, Argentina (-3.4%), Ecuador (-3.4%), Mexico (-5.5%) and Chile (-6.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil, Guatemala, El Salvador and Peru increased by +41, +4.3, +2.7 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported titanium dioxide in Latin America and the Caribbean, comprising 57% of total imports. The second position in the ranking was taken by Mexico ($X), with a 16% share of total imports. It was followed by Guatemala, with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil stood at +9.5%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (-5.8% per year) and Guatemala (+11.4% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 26% against the previous year. Over the period under review, the import price, however, showed a pronounced curtailment. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Chile ($X per ton) and Ecuador ($X per ton), while Guatemala ($X per ton) and El Salvador ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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