Vietnam: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in Vietnam

The Vietnamese titanium dioxide pigments market soared to $X in 2021, surging by 28% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a buoyant increase. Titanium dioxide pigments consumption peaked in 2021 and is likely to continue growth in years to come.

Titanium Dioxide Pigments Exports

Exports from Vietnam

In 2021, the amount of titanium dioxide pigments and colouring preparations exported from Vietnam surged to X tons, increasing by 34% on 2020 figures. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 86% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, titanium dioxide pigments exports skyrocketed to $X in 2021. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 68%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Indonesia (X tons), Uganda (X tons) and China (X tons) were the main destinations of titanium dioxide pigments exports from Vietnam, together accounting for 35% of total exports. These countries were followed by Saudi Arabia, the UK, Lithuania, South Korea, India, Sri Lanka, Hong Kong SAR, Cambodia, Canada and Poland, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +60.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the key foreign market for titanium dioxide pigments and colouring preparations exports from Vietnam, comprising 17% of total exports. The second position in the ranking was taken by China ($X), with a 7.6% share of total exports. It was followed by Saudi Arabia, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to Indonesia totaled +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+31.1% per year) and Saudi Arabia (+55.9% per year).

Export Prices by Country

The average titanium dioxide pigments export price stood at $X per ton in 2021, shrinking by -11.3% against the previous year. Overall, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, titanium dioxide pigments export price increased by +93.5% against 2014 indices. The most prominent rate of growth was recorded in 2015 an increase of 41%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then shrank in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Uganda ($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 Saudi Arabia (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Dioxide Pigments Imports

Imports into Vietnam

In 2021, titanium dioxide pigments imports into Vietnam surged to X tons, with an increase of 16% on the previous year. In general, imports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2016 when imports increased by 54% against the previous year. 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, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 40% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest titanium dioxide pigments supplier to Vietnam, with a 52% share of total imports. Moreover, titanium dioxide pigments imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +21.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+15.8% per year) and Taiwan (Chinese) (+20.1% per year).

In value terms, China ($X) constituted the largest supplier of titanium dioxide pigments and colouring preparations to Vietnam, comprising 52% of total imports. The second position in the ranking was held by the United States ($X), with a 9.9% share of total imports. It was followed by Taiwan (Chinese), with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +23.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+16.7% per year) and Taiwan (Chinese) (+21.5% per year).

Import Prices by Country

In 2021, the average titanium dioxide pigments import price amounted to $X per ton, growing by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2017 an increase of 21% against the previous year. The import price peaked in 2021 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Malaysia ($X per ton) and Japan ($X per ton), while the price for the United States ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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