Spain: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in Spain

In 2021, the Spanish titanium dioxide pigments market decreased by -75.4% to $X, falling for the third consecutive year after three years of growth. In general, consumption saw a abrupt contraction. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Titanium Dioxide Pigments Production in Spain

In value terms, titanium dioxide pigments production dropped rapidly to $X in 2021 estimated in export price. Overall, production faced a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 25%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Titanium Dioxide Pigments Exports

Exports from Spain

In 2021, overseas shipments of titanium dioxide pigments and colouring preparations were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -19.4% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 67%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, titanium dioxide pigments exports reached $X in 2021. Overall, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -4.7% against 2018 indices. The pace of growth was the most pronounced in 2013 when exports increased by 41% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X tons), Germany (X tons) and the United States (X tons) were the main destinations of titanium dioxide pigments exports from Spain, together comprising 38% of total exports. These countries were followed by France, Luxembourg, Israel, Belgium, Portugal, Turkey, Sweden, Poland, Austria and South Korea, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for Israel (with a CAGR of +44.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and the United States ($X) were the largest markets for titanium dioxide pigments exported from Spain worldwide, together comprising 34% of total exports. These countries were followed by France, Luxembourg, Israel, Portugal, Belgium, Turkey, South Korea, Sweden, Poland and Austria, which together accounted for a further 36%.

Luxembourg, with a CAGR of +41.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average titanium dioxide pigments export price stood at $X per ton in 2021, picking up by 6.9% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 17%. The export price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the United States ($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 South Korea (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Dioxide Pigments Imports

Imports into Spain

In 2021, titanium dioxide pigments imports into Spain expanded notably to X tons, surging by 7.1% compared with 2020 figures. In general, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -5.0% against 2017 indices. The growth pace was the most rapid in 2016 with an increase of 18%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, titanium dioxide pigments imports soared to $X in 2021. Overall, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 37%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Germany (X tons), Belgium (X tons) and China (X tons) were the main suppliers of titanium dioxide pigments imports to Spain, together comprising 63% of total imports. These countries were followed by the UK, Italy, the Netherlands, the Czech Republic, Portugal, Ukraine, France, the United States and Finland, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +12.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and China ($X) were the largest titanium dioxide pigments suppliers to Spain, together comprising 64% of total imports.

Among the main suppliers, China, with a CAGR of +11.6%, saw 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

In 2021, the average titanium dioxide pigments import price amounted to $X per ton, rising by 14% against the previous year. Over the period under review, the import price, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2018 when the average import price increased by 20%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 France ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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