South-Eastern Asia: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in South-Eastern Asia

After two years of decline, the Southeast Asian titanium dioxide market increased by 9% to $X in 2021. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Titanium Dioxide Production in South-Eastern Asia

In value terms, titanium dioxide production rose significantly to $X in 2021 estimated in export price. In general, production, however, showed a slight setback. The most prominent rate of growth was recorded in 2014 with an increase of 44% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Titanium Dioxide Exports

Exports in South-Eastern Asia

Titanium dioxide exports soared to X tons in 2021, increasing by 80% on 2020. In general, exports continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 112%. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, titanium dioxide exports soared to $X in 2021. Over the period under review, exports, however, showed a deep reduction. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia was the main exporting country with an export of about X tons, which recorded 68% of total exports. Singapore (X tons) held the second position in the ranking, followed by Malaysia (X tons) and Vietnam (X tons). All these countries together held near 29% share of total exports. Thailand (X tons) took a minor share of total exports.

Indonesia was also the fastest-growing in terms of the titanium dioxide exports, with a CAGR of +49.7% from 2012 to 2021. At the same time, Vietnam (+20.4%) and Thailand (+2.9%) displayed positive paces of growth. By contrast, Singapore (-6.2%) and Malaysia (-15.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Indonesia and Vietnam increased by +66 and +4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest titanium dioxide supplying countries in South-Eastern Asia were Indonesia ($X), Singapore ($X) and Malaysia ($X), together accounting for 90% of total exports.

Among the main exporting countries, Indonesia, with a CAGR of +29.3%, 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 mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, which is down by -4.4% against the previous year. Overall, the export price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 an increase of 19% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a 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 Malaysia ($X per ton), while Indonesia ($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 (+0.6%), while the other leaders experienced mixed trends in the export price figures.

Titanium Dioxide Imports

Imports in South-Eastern Asia

In 2021, imports of titanium dioxide in South-Eastern Asia surged to X tons, increasing by 25% against 2020. In general, imports showed slight growth. The growth pace was the most rapid in 2016 when imports increased by 31% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, titanium dioxide imports soared to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Vietnam (X tons) was the major importer of titanium dioxide, comprising 44% of total imports. Indonesia (X tons) ranks second in terms of the total imports with a 13% share, followed by Malaysia (12%), Thailand (11%), the Philippines (10%) and Myanmar (8.2%). Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to titanium dioxide imports into Vietnam stood at +9.7%. At the same time, Myanmar (+11.8%), Thailand (+4.9%) and the Philippines (+2.1%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +11.8% from 2012-2021. By contrast, Indonesia (-6.2%), Malaysia (-7.1%) and Singapore (-15.8%) illustrated a downward trend over the same period. While the share of Vietnam (+23 p.p.), Myanmar (+4.9 p.p.) and Thailand (+3.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-7.4 p.p.), Indonesia (-11.8 p.p.) and Malaysia (-13 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported titanium dioxide in South-Eastern Asia, comprising 40% of total imports. The second position in the ranking was held by Indonesia ($X), with a 15% share of total imports. It was followed by the Philippines, with a 13% share.

In Vietnam, titanium dioxide imports expanded at an average annual rate of +10.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (-7.3% per year) and the Philippines (+17.1% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, picking up by 4.1% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 17%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+14.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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