South-Eastern Asia: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in South-Eastern Asia

After two years of decline, the Southeast Asian titanium dioxide pigments market increased by 26% to $X in 2021. The market value increased at an average annual rate of +3.3% 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 and is likely to continue growth in the immediate term.

Titanium Dioxide Pigments Production in South-Eastern Asia

In value terms, titanium dioxide pigments production rose notably to $X in 2021 estimated in export price. In general, production, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2018 when the production volume increased by 21% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Titanium Dioxide Pigments Exports

Exports in South-Eastern Asia

In 2021, exports of titanium dioxide pigments and colouring preparations in South-Eastern Asia skyrocketed to X tons, picking up by 32% on the year before. In general, exports, however, recorded a noticeable shrinkage. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, titanium dioxide pigments exports surged to $X in 2021. Over the period under review, exports, however, showed a abrupt decline. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Malaysia (X tons) represented the main exporter of titanium dioxide pigments and colouring preparations, constituting 56% of total exports. Singapore (X tons) took the second position in the ranking, distantly followed by Thailand (X tons) and Vietnam (X tons). All these countries together held near 43% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to titanium dioxide pigments exports from Malaysia stood at +2.1%. At the same time, Vietnam (+13.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +13.2% from 2012-2021. Thailand experienced a relatively flat trend pattern. By contrast, Singapore (-11.6%) illustrated a downward trend over the same period. While the share of Malaysia (+23 p.p.), Vietnam (+4.1 p.p.) and Thailand (+3.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-29 p.p.) displayed negative dynamics.

In value terms, Malaysia ($X), Singapore ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2021, together comprising 99% of total exports.

Vietnam, with a CAGR of +19.8%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, with an increase of 13% against the previous year. In general, the export price, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2017 an increase of 16% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.8%), while the other leaders experienced mixed trends in the export price figures.

Titanium Dioxide Pigments Imports

Imports in South-Eastern Asia

Titanium dioxide pigments imports skyrocketed to X tons in 2021, increasing by 16% against 2020 figures. The total import volume increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 17% against the previous year. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, titanium dioxide pigments imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Indonesia (X tons), Vietnam (X tons) and Thailand (X tons) represented roughly 71% of total imports in 2021. It was distantly followed by Malaysia (X tons), the Philippines (X tons) and Singapore (X tons), together committing a 28% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +14.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2021, with a combined 80% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +15.8%, recorded the highest rates of growth with regard to 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 import price in South-Eastern Asia stood at $X per ton in 2021, jumping by 21% against the previous year. Over the period under review, the import price, however, recorded a perceptible contraction. The pace of growth was the most pronounced in 2017 when the import price increased by 21% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Vietnam ($X per ton) and Indonesia ($X per ton), while Singapore ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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