Norway: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in Norway

The Norwegian titanium dioxide market dropped significantly to $X in 2021, declining by -52.8% against the previous year. In general, consumption continues to indicate a abrupt shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Titanium Dioxide Production in Norway

In value terms, titanium dioxide production reduced to $X in 2021 estimated in export price. Over the period under review, production recorded a deep contraction. The growth pace was the most rapid in 2014 when the production volume increased by 38%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Titanium Dioxide Exports

Exports from Norway

In 2021, the amount of titanium dioxide exported from Norway surged to X tons, growing by 229% against 2020. In general, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 8,391%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, titanium dioxide exports surged to $X in 2021. Overall, exports continue to indicate a slight increase. The most prominent rate of growth was recorded in 2019 with an increase of 6,640% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Germany (X tons) was the main destination for titanium dioxide exports from Norway, with a 33% share of total exports. Moreover, titanium dioxide exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. Poland (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +36.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+35.2% per year) and Poland (-13.0% per year).

In value terms, Germany ($X) remains the key foreign market for titanium dioxide exports from Norway, comprising 39% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 7.5% share of total exports. It was followed by Uganda, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at +21.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+10.6% per year) and Uganda (+20.0% per year).

Export Prices by Country

The average titanium dioxide export price stood at $X per ton in 2021, remaining constant against the previous year. Overall, the export price, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2018 an increase of 45% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iceland ($X per ton), while the average price for exports to Poland ($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 Poland (-7.6%), while the prices for the other major destinations experienced a decline.

Titanium Dioxide Imports

Imports into Norway

In 2021, supplies from abroad of titanium dioxide increased by 41% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 280%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, titanium dioxide imports soared to $X in 2021. In general, imports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2015 with an increase of 128% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of titanium dioxide to Norway, with a 32% share of total imports. Moreover, titanium dioxide imports from France exceeded the figures recorded by the second-largest supplier, Denmark (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France totaled -10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-5.9% per year) and South Korea (-6.1% per year).

In value terms, the largest titanium dioxide suppliers to Norway were France ($X), Denmark ($X) and South Korea ($X), with a combined 48% share of total imports. These countries were followed by Israel, China, the UK, Germany, Sweden and Italy, which together accounted for a further 12%.

Israel, with a CAGR of +52.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average titanium dioxide import price amounted to $X per ton, remaining stable against the previous year. In general, import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, titanium dioxide import price increased by +105.8% against 2016 indices. The growth pace was the most rapid in 2017 when the average import price increased by 51% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Israel ($X per ton), while the price for France ($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 (+21.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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