MENA: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in MENA

The MENA's titanium dioxide market reduced to $X in 2021, dropping by -2.3% against the previous year. Overall, consumption recorded a mild setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Titanium Dioxide Production in MENA

In value terms, titanium dioxide production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production showed a pronounced shrinkage. The growth pace was the most rapid in 2018 when the production volume increased by 13% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Titanium Dioxide Exports

Exports in MENA

In 2021, shipments abroad of titanium dioxide increased by 44% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 52%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, titanium dioxide exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a abrupt shrinkage. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia dominates exports structure, reaching X tons, which was near 84% of total exports in 2021. It was distantly followed by Israel (X tons) and Jordan (X tons), together constituting a 10% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

Exports from Saudi Arabia decreased at an average annual rate of -8.8% from 2012 to 2021. At the same time, Israel (+20.1%) and Jordan (+6.8%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of +20.1% from 2012-2021. By contrast, the United Arab Emirates (-14.7%) illustrated a downward trend over the same period. While the share of Israel (+4.6 p.p.) and Jordan (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-2.5 p.p.) and Saudi Arabia (-7.3 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest titanium dioxide supplier in MENA, comprising 83% of total exports. The second position in the ranking was taken by Israel ($X), with a 6.5% share of total exports. It was followed by Jordan, with a 2.7% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia totaled -9.9%. In the other countries, the average annual rates were as follows: Israel (+19.4% per year) and Jordan (-0.6% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, increasing by 7.1% against the previous year. In general, the export price, however, showed a mild descent. The most prominent rate of growth was recorded in 2018 when the export price increased by 28%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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 Israel ($X per ton), while Jordan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (-0.6%), while the other leaders experienced a decline in the export price figures.

Titanium Dioxide Imports

Imports in MENA

In 2021, purchases abroad of titanium dioxide increased by 7.8% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +9.3% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 36% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, titanium dioxide imports rose sharply to $X in 2021. Total imports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 23% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of titanium dioxide imports in 2021 were Saudi Arabia (X tons), Turkey (X tons), the United Arab Emirates (X tons) and Iran (X tons), together resulting at 76% of total import. Egypt (X tons) held the next position in the ranking, followed by Jordan (X tons). All these countries together took near 13% share of total imports. Algeria (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United Arab Emirates (with a CAGR of +18.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2021, together comprising 65% of total imports.

Among the main importing countries, the United Arab Emirates, with a CAGR of +17.0%, recorded 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

The import price in MENA stood at $X per ton in 2021, with an increase of 5.8% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 20%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Algeria ($X per ton) and Turkey ($X per ton), while Iran ($X per ton) and Jordan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+5.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform