Asia-Pacific: Titanium Market 2023

Titanium Market Size in Asia-Pacific

After two years of growth, the Asia-Pacific titanium market decreased by -8.9% to $X in 2021. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Titanium Production in Asia-Pacific

In value terms, titanium production dropped to $X in 2021 estimated in export price. In general, production recorded a slight contraction. The pace of growth was the most pronounced in 2020 when the production volume increased by 23%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Titanium Exports

Exports in Asia-Pacific

In 2021, the amount of titanium sponge, powders, ingots and slabs exported in Asia-Pacific skyrocketed to X tons, rising by 30% on 2020 figures. Over the period under review, exports, however, saw a perceptible descent. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, titanium exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a abrupt contraction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Japan dominates exports structure, recording X tons, which was near 93% of total exports in 2021. It was distantly followed by China (X tons), generating a 4.9% share of total exports.

Japan was also the fastest-growing in terms of the titanium sponge, powders, ingots and slabs exports, with a CAGR of -1.6% from 2012 to 2021. China (-13.5%) illustrated a downward trend over the same period. Japan (+23 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -6.6% from 2012 to 2021, respectively.

In value terms, Japan ($X) remains the largest titanium supplier in Asia-Pacific, comprising 94% of total exports. The second position in the ranking was taken by China ($X), with a 5% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Japan totaled -3.5%.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, rising by 11% against the previous year. Over the period under review, the export price, however, showed a slight setback. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while Japan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.9%).

Titanium Imports

Imports in Asia-Pacific

In 2021, approx. X tons of titanium sponge, powders, ingots and slabs were imported in Asia-Pacific; with an increase of 48% against the year before. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 57%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, titanium imports surged to $X in 2021. Over the period under review, imports, however, recorded a mild decrease. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China was the main importing country with an import of about X tons, which recorded 53% of total imports. It was distantly followed by South Korea (X tons), creating a 34% share of total imports. The following importers - Taiwan (Chinese) (X tons), India (X tons) and Thailand (X tons) - together made up 9.4% of total imports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +59.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported titanium sponge, powders, ingots and slabs in Asia-Pacific, comprising 58% of total imports. The second position in the ranking was taken by South Korea ($X), with a 28% share of total imports. It was followed by Taiwan (Chinese), with a 5.7% share.

In China, titanium imports expanded at an average annual rate of +40.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (-8.1% per year) and Taiwan (Chinese) (+8.0% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, picking up by 6.5% against the previous year. Over the period under review, the import price, however, continues to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2017 when the import price increased by 38% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+10.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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