Turkey: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in Turkey

In 2021, the Turkish titanium dioxide pigments market increased by 37% to $X, rising for the fifth year in a row after two years of decline. Over the period under review, the total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +82.2% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Titanium Dioxide Pigments Production in Turkey

In value terms, titanium dioxide pigments production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a slight reduction. The growth pace was the most rapid in 2018 with an increase of 1,446% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Titanium Dioxide Pigments Exports

Exports from Turkey

After nine years of growth, shipments abroad of titanium dioxide pigments and colouring preparations decreased by -7.9% to X tons in 2021. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 86% against the previous year. The exports peaked at X tons in 2020, and then contracted in the following year.

In value terms, titanium dioxide pigments exports expanded rapidly to $X in 2021. Overall, exports, however, showed a prominent expansion. The growth pace was the most rapid in 2016 when exports increased by 64% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Uzbekistan (X tons) was the main destination for titanium dioxide pigments exports from Turkey, accounting for a 21% share of total exports. Moreover, titanium dioxide pigments exports to Uzbekistan exceeded the volume sent to the second major destination, Iraq (X tons), twofold. The third position in this ranking was held by Azerbaijan (X tons), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to Uzbekistan totaled +38.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+14.0% per year) and Azerbaijan (+7.5% per year).

In value terms, Uzbekistan ($X) remains the key foreign market for titanium dioxide pigments and colouring preparations exports from Turkey, comprising 24% of total exports. The second position in the ranking was taken by Iraq ($X), with a 9.7% share of total exports. It was followed by Azerbaijan, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value to Uzbekistan stood at +36.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+19.1% per year) and Azerbaijan (+5.1% per year).

Export Prices by Country

In 2021, the average titanium dioxide pigments export price amounted to $X per ton, surging by 15% against the previous year. In general, the export price, however, saw a mild curtailment. The growth pace was the most rapid in 2018 when the average export price increased by 15%. Over the period under review, the average export prices reached the peak figure 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 for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Qatar ($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 Iraq (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Dioxide Pigments Imports

Imports into Turkey

In 2021, purchases abroad of titanium dioxide pigments and colouring preparations increased by 14% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 24%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, titanium dioxide pigments imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 +64.3% 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 supplier of titanium dioxide pigments to Turkey, with a 39% share of total imports. Moreover, titanium dioxide pigments imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+32.2% per year) and Germany (-2.5% per year).

In value terms, China ($X) constituted the largest supplier of titanium dioxide pigments and colouring preparations to Turkey, comprising 37% of total imports. The second position in the ranking was taken by Mexico ($X), with a 14% share of total imports. It was followed by Germany, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+31.0% per year) and Germany (-3.5% per year).

Import Prices by Country

In 2021, the average titanium dioxide pigments import price amounted to $X per ton, with an increase of 23% against the previous year. In general, the import price, however, saw a mild decline. The pace of growth appeared the most rapid in 2017 when the average import price increased by 24% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the UK ($X per ton) and Ukraine ($X per ton), while the price for India ($X per ton) and Israel ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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