Republic of Korea: Titanium Dioxide Pigments Market 2024

Titanium Dioxide Pigments Market Size in Republic of Korea

The South Korean titanium dioxide pigments market reduced modestly to $X in 2022, waning by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then shrank modestly in the following year.

Titanium Dioxide Pigments Production in Republic of Korea

In value terms, titanium dioxide pigments production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated modest 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 increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Titanium dioxide pigments production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Titanium Dioxide Pigments Exports

Exports from Republic of Korea

In 2022, exports of titanium dioxide pigments and colouring preparations from South Korea declined markedly to X tons, shrinking by X% on the year before. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then declined significantly in the following year.

In value terms, titanium dioxide pigments exports declined to $X in 2022. Overall, total exports 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Vietnam (X tons), Indonesia (X tons) and China (X tons) were the main destinations of titanium dioxide pigments exports from South Korea, with a combined X% share of total exports. The United States, Mexico, Bangladesh, the United Arab Emirates, Switzerland, India, Thailand, Poland, Hungary and Japan lagged somewhat behind, together accounting for a further X%.

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

In value terms, Vietnam ($X), China ($X) and Indonesia ($X) constituted the largest markets for titanium dioxide pigments exported from South Korea worldwide, together comprising X% of total exports. The United States, Mexico, Bangladesh, Switzerland, the United Arab Emirates, India, Thailand, Hungary, Poland and Japan lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of X%, saw 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 2022, the average titanium dioxide pigments export price amounted to $X per ton, rising by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Dioxide Pigments Imports

Imports into Republic of Korea

After two years of growth, purchases abroad of titanium dioxide pigments and colouring preparations decreased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted sharply in the following year.

In value terms, titanium dioxide pigments imports dropped to $X in 2022. In general, imports, however, recorded a mild expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of titanium dioxide pigments to South Korea, accounting for a X% share of total imports. Moreover, titanium dioxide pigments imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of titanium dioxide pigments and colouring preparations to South Korea, comprising X% of total imports. The second position in the ranking was taken by Australia ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and Japan (X% per year).

Import Prices by Country

The average titanium dioxide pigments import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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