Vietnam: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in Vietnam

The Vietnamese titanium dioxide market rose rapidly to $X in 2021, increasing by 5.3% 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 recorded a buoyant expansion. Titanium dioxide consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Titanium Dioxide Exports

Exports from Vietnam

In 2021, exports of titanium dioxide from Vietnam skyrocketed to X tons, rising by 41% on 2020. Overall, exports posted significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 82% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, titanium dioxide exports surged to $X in 2021. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 122% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

South Korea (X tons) was the main destination for titanium dioxide exports from Vietnam, accounting for a 70% share of total exports. Moreover, titanium dioxide exports to South Korea exceeded the volume sent to the second major destination, Indonesia (X tons), fourfold. The Philippines (X tons) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea totaled +114.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+18.0% per year) and the Philippines (+134.0% per year).

In value terms, Indonesia ($X), South Korea ($X) and Taiwan (Chinese) ($X) were the largest markets for titanium dioxide exported from Vietnam worldwide, with a combined 93% share of total exports.

Among the main countries of destination, South Korea, with a CAGR of +113.9%, recorded the highest growth rate of the value of exports, 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, growing by 1.6% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 22%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to South Korea ($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 Taiwan (Chinese) (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Dioxide Imports

Imports into Vietnam

Titanium dioxide imports into Vietnam expanded markedly to X tons in 2021, increasing by 8% compared with 2020 figures. In general, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 98% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, titanium dioxide imports rose markedly to $X in 2021. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 128%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest titanium dioxide supplier to Vietnam, accounting for a 78% share of total imports. Moreover, titanium dioxide imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), sevenfold. Japan (X tons) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+9.6% per year) and Japan (+20.4% per year).

In value terms, China ($X) constituted the largest supplier of titanium dioxide to Vietnam, comprising 78% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by Japan, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+10.2% per year) and Japan (+21.2% per year).

Import Prices by Country

In 2021, the average titanium dioxide import price amounted to $X per ton, dropping by -2.1% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 20% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Mexico ($X per ton) and Japan ($X per ton), while the price for China ($X per ton) and South Korea ($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 (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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