Latin America and the Caribbean: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in Latin America and the Caribbean

For the third year in a row, the Latin American titanium dioxide pigments market recorded growth in sales value, which increased by X% to $X in 2022. The total consumption indicated measured 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 2018 indices. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Titanium Dioxide Pigments Production in Latin America and the Caribbean

In value terms, titanium dioxide pigments production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Titanium Dioxide Pigments Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of titanium dioxide pigments and colouring preparations were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, titanium dioxide pigments exports surged to $X in 2022. Over the period under review, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico represented the key exporter of titanium dioxide pigments and colouring preparations in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. Brazil (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Argentina (X%), Chile (X%) and Colombia (X%). Peru (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to titanium dioxide pigments exports from Mexico stood at X%. At the same time, Peru (X%), Chile (X%), Colombia (X%) and Argentina (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Brazil (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Argentina, Chile, Colombia, Brazil and Peru increased by X, X, X, X and X percentage points, respectively.

In value terms, Mexico ($X) emerged as the largest titanium dioxide pigments supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with an X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Chile (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, dropping by X% against the previous year. Export price indicated notable growth from 2012 to 2022: its price 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, titanium dioxide pigments export price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Titanium Dioxide Pigments Imports

Imports in Latin America and the Caribbean

In 2022, after two years of growth, there was decline in supplies from abroad of titanium dioxide pigments and colouring preparations, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, leveling off in the following year.

In value terms, titanium dioxide pigments imports expanded remarkably to $X in 2022. Total imports indicated a slight increase 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Brazil (X tons) and Mexico (X tons) were the largest importers of titanium dioxide pigments and colouring preparations in Latin America and the Caribbean, together comprising X% of total imports. Argentina (X tons) held the next position in the ranking, followed by Colombia (X tons). All these countries together took near X% share of total imports. The following importers - Chile (X tons), Peru (X tons), the Dominican Republic (X tons), Ecuador (X tons) and Costa Rica (X tons) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and Argentina ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Colombia, Chile, Peru, the Dominican Republic, Ecuador and Costa Rica lagged somewhat behind, together accounting for a further X%.

The Dominican Republic, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Costa Rica ($X per ton) and Argentina ($X per ton), while Ecuador ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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