Singapore: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in Singapore

In 2021, the Singaporean titanium dioxide market increased by 5.4% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, showed a relatively flat trend pattern. Titanium dioxide consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Titanium Dioxide Production in Singapore

In value terms, titanium dioxide production reached $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 35%. Titanium dioxide production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Titanium Dioxide Exports

Exports from Singapore

In 2021, the amount of titanium dioxide exported from Singapore surged to X tons, jumping by 80% against 2020 figures. Over the period under review, exports, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2018 when exports increased by 176% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, titanium dioxide exports soared to $X in 2021. In general, exports, however, recorded a deep setback. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for titanium dioxide exports from Singapore, with a 58% share of total exports. Moreover, titanium dioxide exports to Indonesia exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), threefold. The third position in this ranking was held by Pakistan (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia totaled +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+87.6% per year) and Pakistan (+56.4% per year).

In value terms, Indonesia ($X), Hong Kong SAR ($X) and Pakistan ($X) appeared to be the largest markets for titanium dioxide exported from Singapore worldwide, with a combined 77% share of total exports.

Among the main countries of destination, Hong Kong SAR, with a CAGR of +74.6%, saw the highest growth rate of 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 export price amounted to $X per ton, falling by -3% against the previous year. In general, the export price saw a pronounced contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 24%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Malaysia ($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 India (+2.8%), while the prices for the other major destinations experienced a decline.

Titanium Dioxide Imports

Imports into Singapore

In 2021, purchases abroad of titanium dioxide was finally on the rise to reach X tons for the first time since 2012, thus ending a eight-year declining trend. In general, imports, however, faced a abrupt descent. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, titanium dioxide imports skyrocketed to $X in 2021. Over the period under review, imports, however, faced a drastic downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Japan (X tons) and Malaysia (X tons) were the main suppliers of titanium dioxide imports to Singapore, together comprising 80% of total imports. These countries were followed by Australia, Germany, the United States and South Korea, which together accounted for a further 17%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +78.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Malaysia ($X) constituted the largest titanium dioxide suppliers to Singapore, together accounting for 71% of total imports. Germany, the United States, Australia and South Korea lagged somewhat behind, together accounting for a further 24%.

In terms of the main suppliers, South Korea, with a CAGR of +95.9%, 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

The average titanium dioxide import price stood at $X per ton in 2021, falling by -3.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 9% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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