Singapore: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in Singapore

In 2021, the Singaporean titanium dioxide pigments market increased by 11% to $X, rising for the fifth consecutive year after four years of decline. In general, consumption, however, continues to indicate a perceptible decrease. Titanium dioxide pigments consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Titanium Dioxide Pigments Production in Singapore

In value terms, titanium dioxide pigments production fell dramatically to $X in 2021 estimated in export price. Over the period under review, production faced a abrupt downturn. The pace of growth was the most pronounced in 2020 with an increase of 165%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Titanium Dioxide Pigments Exports

Exports from Singapore

In 2021, overseas shipments of titanium dioxide pigments and colouring preparations decreased by -13.3% to X tons, falling for the second consecutive year after two years of growth. Overall, exports showed a deep reduction. The pace of growth was the most pronounced in 2019 when exports increased by 19%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, titanium dioxide pigments exports fell to $X in 2021. Over the period under review, exports faced a deep contraction. The most prominent rate of growth was recorded in 2018 with an increase of 19%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons), Vietnam (X tons) and Bangladesh (X tons) were the main destinations of titanium dioxide pigments exports from Singapore, together comprising 56% of total exports. These countries were followed by New Zealand, Malaysia, Indonesia, China, Nepal, Sri Lanka, South Korea, Taiwan (Chinese), Thailand and the Philippines, which together accounted for a further 39%.

From 2012 to 2021, the biggest increases were recorded for Nepal (with a CAGR of +159.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Vietnam ($X) and Bangladesh ($X) appeared to be the largest markets for titanium dioxide pigments exported from Singapore worldwide, together comprising 55% of total exports. Malaysia, New Zealand, Indonesia, China, Nepal, Sri Lanka, Thailand, Taiwan (Chinese), South Korea and the Philippines lagged somewhat behind, together accounting for a further 41%.

In terms of the main countries of destination, Nepal, with a CAGR of +160.2%, saw 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, with an increase of 15% against the previous year. Over the period under review, the export price, however, recorded a mild decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to China ($X per ton) and Malaysia ($X per ton), while the average price for exports to New Zealand ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Dioxide Pigments Imports

Imports into Singapore

Titanium dioxide pigments imports into Singapore stood at X tons in 2021, picking up by 3.4% on the previous year. In general, imports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2015 with an increase of 23%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, titanium dioxide pigments imports expanded to $X in 2021. Over the period under review, imports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 17%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X tons), the United States (X tons) and Mexico (X tons) were the main suppliers of titanium dioxide pigments imports to Singapore, together comprising 77% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +23.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), Taiwan (Chinese) ($X) and Mexico ($X) were the largest titanium dioxide pigments suppliers to Singapore, with a combined 69% share of total imports.

Mexico, with a CAGR of +24.4%, 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 pigments import price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the import price, however, saw a perceptible decline. The pace of growth was the most pronounced in 2018 an increase of 16%. 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 ($X per ton), while the price for Taiwan (Chinese) ($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 (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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