ECOWAS: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in ECOWAS

The ECOWAS titanium dioxide pigments market expanded remarkably to $X in 2022, picking up by X% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2016 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the immediate term.

Titanium Dioxide Pigments Production in ECOWAS

In value terms, titanium dioxide pigments production rose modestly to $X in 2022 estimated in export price. The total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Titanium Dioxide Pigments Exports

Exports in ECOWAS

In 2022, overseas shipments of titanium dioxide pigments and colouring preparations decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, titanium dioxide pigments exports contracted markedly to $X in 2022. In general, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Sierra Leone prevails in exports structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Guinea (X tons), committing an X% share of total exports. Cote d'Ivoire (X tons), Senegal (X tons) and Ghana (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to titanium dioxide pigments exports from Sierra Leone stood at X%. At the same time, Ghana (X%), Guinea (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Sierra Leone (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) remains the largest titanium dioxide pigments supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Guinea ($X), with an X% share of total exports. It was followed by Senegal, with a X% share.

In Sierra Leone, titanium dioxide pigments exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced more modest paces of growth.

Titanium Dioxide Pigments Imports

Imports in ECOWAS

In 2022, purchases abroad of titanium dioxide pigments and colouring preparations decreased by X% to X tons, falling for the second year in a row after four years of growth. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, titanium dioxide pigments imports rose sharply to $X in 2022. Overall, imports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

Nigeria represented the key importer of titanium dioxide pigments and colouring preparations in ECOWAS, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons) and Ghana (X tons), together making up a X% share of total imports. The following importers - Senegal (X tons) and Guinea (X tons) - each reached a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to titanium dioxide pigments imports into Nigeria stood at X%. At the same time, Ghana (X%), Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Guinea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported titanium dioxide pigments and colouring preparations in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. 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 hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :