Hong Kong SAR, China: Titanium Market 2023

Titanium Market Size in Hong Kong SAR, China

The Hong Kong titanium market expanded notably to $X in 2021, with an increase of 8.2% against the previous year. Over the period under review, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.3% against 2019 indices. Titanium consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Titanium Production in Hong Kong SAR, China

In value terms, titanium production expanded markedly to $X in 2021 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -9.6% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 39%. Titanium production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Titanium Exports

Exports from Hong Kong SAR, China

After two years of growth, overseas shipments of titanium sponge, powders, ingots and slabs decreased by -18.8% to X tons in 2021. Over the period under review, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2019 when exports increased by 412%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, titanium exports soared to $X in 2021. In general, exports showed a deep reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 294%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons), China (X tons) and Malaysia (X tons) were the main destinations of titanium exports from Hong Kong SAR, with a combined 63% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +26.4%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), South Korea ($X) and Taiwan (Chinese) ($X) constituted the largest markets for titanium exported from Hong Kong SAR worldwide, together accounting for 64% of total exports.

Among the main countries of destination, Malaysia, with a CAGR of +45.6%, 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

The average titanium export price stood at $X per ton in 2021, surging by 45% against the previous year. In general, the export price showed a prominent expansion. The most prominent rate of growth was recorded in 2018 an increase of 101% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Australia ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+32.7%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Imports

Imports into Hong Kong SAR, China

In 2021, approx. X kg of titanium sponge, powders, ingots and slabs were imported into Hong Kong SAR; declining by -78% against 2020 figures. In general, imports saw a abrupt slump. The pace of growth was the most pronounced in 2013 when imports increased by 480%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, titanium imports fell notably to $X in 2021. Over the period under review, imports, however, enjoyed notable growth. The most prominent rate of growth was recorded in 2013 with an increase of 865% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X kg) was the main supplier of titanium to Hong Kong SAR, accounting for a 92% share of total imports. Moreover, titanium imports from Malaysia exceeded the figures recorded by the second-largest supplier, the UK (X kg), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X kg), with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia amounted to -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+15.6% per year) and Taiwan (Chinese) (-17.7% per year).

In value terms, the largest titanium suppliers to Hong Kong SAR were Taiwan (Chinese) ($X), the UK ($X) and Malaysia ($X), together comprising 76% of total imports.

In terms of the main suppliers, the UK, with a CAGR of +69.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average titanium import price amounted to $X per ton, surging by 15% against the previous year. Overall, the import price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 an increase of 79% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+37.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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