MERCOSUR: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in MERCOSUR

In 2023, after three years of growth, there was significant decline in the MERCOSUR titanium dioxide pigments market, when its value decreased by X% to $X. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2022, and then declined in the following year.

Titanium Dioxide Pigments Production in MERCOSUR

In value terms, titanium dioxide pigments production stood at $X in 2023 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Titanium Dioxide Pigments Exports

Exports in MERCOSUR

After two years of growth, shipments abroad of titanium dioxide pigments and colouring preparations decreased by X% to X tons in 2023. Over the period under review, exports recorded a pronounced decline. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2022, and then reduced sharply in the following year.

In value terms, titanium dioxide pigments exports fell notably to $X in 2023. In general, exports continue to indicate a pronounced reduction. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2022, and then reduced notably in the following year.

Exports by Country

In 2023, Brazil (X tons), distantly followed by Chile (X tons), Colombia (X tons), Argentina (X tons) and Peru (X tons) were the largest exporters of titanium dioxide pigments and colouring preparations, together mixing up X% of total exports. Uruguay (X tons) took a minor share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Peru (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Chile ($X) and Colombia ($X) were the countries with the highest levels of exports in 2023, together comprising X% of total exports. Argentina, Uruguay and Peru lagged somewhat behind, together accounting for a further X%.

Peru, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Chile (X%), while the other leaders experienced more modest paces of growth.

Titanium Dioxide Pigments Imports

Imports in MERCOSUR

In 2023, supplies from abroad of titanium dioxide pigments and colouring preparations decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, titanium dioxide pigments imports shrank dramatically to $X in 2023. Over the period under review, imports showed a mild shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Brazil (X tons) was the main importer of titanium dioxide pigments and colouring preparations, mixing up X% of total imports. It was distantly followed by Argentina (X tons), Colombia (X tons), Chile (X tons) and Peru (X tons), together constituting a X% share of total imports. The following importers - Ecuador (X tons) and Venezuela (X tons) - together made up X% of total imports.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of titanium dioxide pigments and colouring preparations. At the same time, Colombia (X%), Peru (X%) and Chile (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of X% from 2012-2023. Ecuador and Argentina experienced a relatively flat trend pattern. By contrast, Venezuela (X%) illustrated a downward trend over the same period. Colombia (X p.p.) and Peru (X p.p.) significantly strengthened its position in terms of the total imports, while Venezuela saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported titanium dioxide pigments and colouring preparations in MERCOSUR, comprising X% of total imports. The second position in the ranking was held by Argentina ($X), with a X% share of total imports. It was followed by Colombia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Brazil totaled X%. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Colombia (X% per year).

Import Prices by Country

In 2023, the import price in MERCOSUR amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price showed a slight decline. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Colombia ($X per ton) and Argentina ($X per ton), while Brazil ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ecuador (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform