Portugal: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in Portugal

In 2021, the Portuguese titanium dioxide market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. Titanium dioxide consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Titanium Dioxide Production in Portugal

In value terms, titanium dioxide production soared to $X in 2021 estimated in export price. In general, production, however, continues to indicate a strong increase. The growth pace was the most rapid in 2017 when the production volume increased by 398%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Titanium Dioxide Exports

Exports from Portugal

In 2021, the amount of titanium dioxide exported from Portugal reduced dramatically to X tons, with a decrease of -77% compared with the previous year. Over the period under review, exports showed a dramatic slump. The pace of growth appeared the most rapid in 2020 with an increase of 128%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, titanium dioxide exports contracted significantly to $X in 2021. Overall, exports faced a precipitous contraction. The most prominent rate of growth was recorded in 2020 with an increase of 71% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Angola (X tons) was the main destination for titanium dioxide exports from Portugal, accounting for a 76% share of total exports. Moreover, titanium dioxide exports to Angola exceeded the volume sent to the second major destination, Spain (X tons), fourfold. Cabo Verde (X kg) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Angola stood at -32.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-33.7% per year) and Cabo Verde (-33.6% per year).

In value terms, Angola ($X) emerged as the key foreign market for titanium dioxide exports from Portugal, comprising 79% of total exports. The second position in the ranking was taken by Spain ($X), with a 12% share of total exports. It was followed by Cabo Verde, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Angola amounted to -31.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-37.5% per year) and Cabo Verde (-34.2% per year).

Export Prices by Country

In 2021, the average titanium dioxide export price amounted to $X per ton, jumping by 110% against the previous year. In general, the export price saw 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 export markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Spain ($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 (+1.4%), while the prices for the other major destinations experienced a decline.

Titanium Dioxide Imports

Imports into Portugal

After two years of decline, overseas purchases of titanium dioxide increased by 64% to X tons in 2021. Overall, imports, however, saw a perceptible reduction. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, titanium dioxide imports surged to $X in 2021. Over the period under review, imports, however, saw a abrupt setback. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) constituted the largest titanium dioxide supplier to Portugal, accounting for a 81% share of total imports. Moreover, titanium dioxide imports from Spain exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. France (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-13.2% per year) and France (-4.1% per year).

In value terms, Spain ($X) constituted the largest supplier of titanium dioxide to Portugal, comprising 82% of total imports. The second position in the ranking was held by China ($X), with a 6.2% share of total imports. It was followed by France, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-13.5% per year) and France (-6.5% per year).

Import Prices by Country

The average titanium dioxide import price stood at $X per ton in 2021, jumping by 77% against the previous year. Overall, the import price, however, continues to indicate a slight descent. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+15.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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