Asia: Titanium Market 2023

Titanium Market Size in Asia

The Asian titanium market was estimated at $X in 2022, remaining relatively unchanged against the previous year. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.4% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Titanium Production in Asia

In value terms, titanium production expanded modestly to $X in 2022 estimated in export price. The total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.3% 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 -4.5% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 22%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Titanium Exports

Exports in Asia

Titanium exports stood at X tons in 2022, with an increase of 11% compared with the year before. Overall, exports, however, showed a slight setback. The pace of growth appeared the most rapid in 2015 with an increase of 30% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, titanium exports expanded notably to $X in 2022. In general, exports, however, continue to indicate a pronounced descent. The growth pace was the most rapid in 2021 with an increase of 49% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Japan was the major exporter of titanium sponge, powders, ingots and slabs in Asia, with the volume of exports reaching X tons, which was approx. 59% of total exports in 2022. Kazakhstan (X tons) held the second position in the ranking, distantly followed by Saudi Arabia (X tons) and China (X tons). All these countries together took approx. 40% share of total exports.

Exports from Japan increased at an average annual rate of +1.1% from 2012 to 2022. At the same time, Saudi Arabia (+69.6%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +69.6% from 2012-2022. By contrast, Kazakhstan (-3.7%) and China (-4.8%) illustrated a downward trend over the same period. While the share of Japan (+13 p.p.) and Saudi Arabia (+8.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-2.2 p.p.) and Kazakhstan (-6.9 p.p.) displayed negative dynamics.

In value terms, Japan ($X) remains the largest titanium supplier in Asia, comprising 59% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 28% share of total exports. It was followed by China, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value in Japan amounted to -1.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Kazakhstan (-3.2% per year) and China (-5.7% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, dropping by -2.8% 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 2021 an increase of 15%. Over the period under review, the export prices attained 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 China ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.1%), while the other leaders experienced mixed trends in the export price figures.

Titanium Imports

Imports in Asia

In 2022, the amount of titanium sponge, powders, ingots and slabs imported in Asia fell to X tons, waning by -1.5% compared with the year before. Overall, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 48%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, titanium imports fell to $X in 2022. Over the period under review, imports saw a pronounced contraction. The pace of growth was the most pronounced in 2021 with an increase of 57% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China represented the largest importer of titanium sponge, powders, ingots and slabs in Asia, with the volume of imports finishing at X tons, which was approx. 55% of total imports in 2022. It was distantly followed by South Korea (X tons), mixing up a 32% share of total imports. Taiwan (Chinese) (X tons), India (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +52.7%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported titanium sponge, powders, ingots and slabs in Asia, comprising 59% of total imports. The second position in the ranking was taken by South Korea ($X), with a 29% share of total imports. It was followed by India, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +35.0%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-7.9% per year) and India (+18.1% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, which is down by -7.3% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the import price increased by 43%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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