Peru: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in Peru

In 2021, the Peruvian titanium dioxide pigments market increased by 15% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Titanium Dioxide Pigments Production in Peru

In value terms, titanium dioxide pigments production contracted slightly to $X in 2021 estimated in export price. In general, production recorded a noticeable contraction. The pace of growth appeared the most rapid in 2018 with an increase of 11%. Titanium dioxide pigments production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Titanium Dioxide Pigments Exports

Exports from Peru

Titanium dioxide pigments exports from Peru dropped to X tons in 2021, waning by -10.9% on 2020. In general, exports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 103% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, titanium dioxide pigments exports declined to $X in 2021. Overall, exports, however, showed resilient growth. The growth pace was the most rapid in 2017 with an increase of 98%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Chile (X tons) was the main destination for titanium dioxide pigments exports from Peru, accounting for a 41% share of total exports. Moreover, titanium dioxide pigments exports to Chile exceeded the volume sent to the second major destination, Bolivia (X tons), twofold. The third position in this ranking was held by Ecuador (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Chile totaled +63.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+9.4% per year) and Ecuador (+2.0% per year).

In value terms, Chile ($X), Bolivia ($X) and Ecuador ($X) were the largest markets for titanium dioxide pigments exported from Peru worldwide, with a combined 74% share of total exports. These countries were followed by Guatemala, El Salvador, Argentina, Portugal and the United States, which together accounted for a further 20%.

In terms of the main countries of destination, Guatemala, with a CAGR of +143.8%, recorded the highest rates of growth with regard to 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

In 2021, the average titanium dioxide pigments export price amounted to $X per ton, picking up by 5.2% against the previous year. Overall, the export price, however, saw a deep reduction. The pace of growth appeared the most rapid in 2018 when the average export price increased by 6.4%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to El Salvador ($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 the United States (+14.4%), while the prices for the other major destinations experienced mixed trend patterns.

Titanium Dioxide Pigments Imports

Imports into Peru

In 2021, overseas purchases of titanium dioxide pigments and colouring preparations were finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +5.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, titanium dioxide pigments imports soared to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and Mexico (X tons) were the main suppliers of titanium dioxide pigments imports to Peru, with a combined 73% share of total imports. Spain, Chile, Russia, Australia, Belgium, Germany and Brazil lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +34.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Mexico ($X) appeared to be the largest titanium dioxide pigments suppliers to Peru, with a combined 72% share of total imports. Chile, Spain, Australia, Russia, Germany, Belgium and Brazil lagged somewhat behind, together comprising a further 20%.

Among the main suppliers, Russia, with a CAGR of +26.9%, 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

In 2021, the average titanium dioxide pigments import price amounted to $X per ton, falling by -5.4% against the previous year. Overall, the import price showed a noticeable downturn. The pace of growth appeared the most rapid in 2017 an increase of 22%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+0.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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