Portugal: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in Portugal

The Portuguese titanium dioxide pigments market contracted to $X in 2021, waning by -2.9% against the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +10.3% against 2019 indices. Titanium dioxide pigments consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Titanium Dioxide Pigments Production in Portugal

In value terms, titanium dioxide pigments production expanded to $X in 2021 estimated in export price. Overall, production, however, faced a precipitous contraction. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Titanium Dioxide Pigments Exports

Exports from Portugal

In 2021, titanium dioxide pigments exports from Portugal rose markedly to X tons, with an increase of 9.8% on the previous year. Overall, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +100.0% against 2016 indices. The pace of growth was the most pronounced in 2017 when exports increased by 44%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, titanium dioxide pigments exports skyrocketed to $X in 2021. Over the period under review, exports showed a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 71% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Spain (X tons) was the main destination for titanium dioxide pigments exports from Portugal, accounting for a 40% share of total exports. Moreover, titanium dioxide pigments exports to Spain exceeded the volume sent to the second major destination, Germany (X tons), threefold. The third position in this ranking was taken by Angola (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain amounted to +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+42.4% per year) and Angola (+4.6% per year).

In value terms, Spain ($X) remains the key foreign market for titanium dioxide pigments and colouring preparations exports from Portugal, comprising 38% of total exports. The second position in the ranking was held by Germany ($X), with a 15% share of total exports. It was followed by Angola, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Spain amounted to +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+44.6% per year) and Angola (+7.6% per year).

Export Prices by Country

The average titanium dioxide pigments export price stood at $X per ton in 2021, picking up by 27% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Algeria ($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 Angola (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Dioxide Pigments Imports

Imports into Portugal

In 2021, overseas purchases of titanium dioxide pigments and colouring preparations decreased by -3.5% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +121.2% against 2012 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 58% against the previous year. Imports peaked at X tons in 2020, and then declined in the following year.

In value terms, titanium dioxide pigments imports expanded sharply to $X in 2021. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.4% 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 +16.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 32% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Belgium (X tons) and Spain (X tons) were the main suppliers of titanium dioxide pigments imports to Portugal, with a combined 74% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +26.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest titanium dioxide pigments suppliers to Portugal were Belgium ($X), China ($X) and Spain ($X), with a combined 69% share of total imports.

China, with a CAGR of +17.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average titanium dioxide pigments import price stood at $X per ton in 2021, growing by 11% against the previous year. Over the period under review, the import price, however, saw a noticeable setback. The growth pace was the most rapid in 2017 an increase of 25%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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