Spain: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in Spain

After two years of decline, the Spanish titanium dioxide market increased by 8.8% to $X in 2021. In general, consumption, however, saw a abrupt setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Titanium Dioxide Production in Spain

In value terms, titanium dioxide production rose remarkably to $X in 2021 estimated in export price. In general, production showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the production volume increased by 19% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Titanium Dioxide Exports

Exports from Spain

After three years of decline, overseas shipments of titanium dioxide increased by 22% to X tons in 2021. Overall, exports saw a notable expansion. The growth pace was the most rapid in 2017 when exports increased by 473% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, titanium dioxide exports surged to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 387%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil (X tons), Australia (X tons) and Egypt (X tons) were the main destinations of titanium dioxide exports from Spain, together comprising 60% of total exports.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +425.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for titanium dioxide exported from Spain were Brazil ($X), Cuba ($X) and Egypt ($X), together accounting for 48% of total exports.

Brazil, with a CAGR of +270.1%, recorded 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

In 2021, the average titanium dioxide export price amounted to $X per ton, picking up by 13% against the previous year. Over the period under review, the export price, however, recorded a perceptible slump. The pace of growth was the most pronounced in 2018 when the average export price increased by 43% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to Australia ($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 Cuba (+3.9%), while the prices for the other major destinations experienced mixed trend patterns.

Titanium Dioxide Imports

Imports into Spain

In 2021, approx. X tons of titanium dioxide were imported into Spain; surging by 14% on the year before. Overall, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +36.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 29%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, titanium dioxide imports surged to $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +80.3% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest titanium dioxide supplier to Spain, with a 78% share of total imports. Moreover, titanium dioxide imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sevenfold. The third position in this ranking was held by France (X tons), with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.7% per year) and France (-2.3% per year).

In value terms, China ($X) constituted the largest supplier of titanium dioxide to Spain, comprising 74% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by France, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.5% per year) and France (+4.7% per year).

Import Prices by Country

In 2021, the average titanium dioxide import price amounted to $X per ton, increasing by 40% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. 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.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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