Latin America and the Caribbean: Titanium Market 2022

Titanium Market Size in Latin America and the Caribbean

In 2021, after three years of growth, there was decline in the Latin American titanium market, when its value decreased by -X% to $X. The market value increased at an average annual rate of +X% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The level of consumption peaked at $X in 2020, and then reduced modestly in the following year.

Titanium Production in Latin America and the Caribbean

In value terms, titanium production declined slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +X% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2020, and then fell modestly in the following year.

Production By Country in Latin America and the Caribbean

Brazil (X tonnes) constituted the country with the largest volume of titanium production, accounting for X% of total volume. Moreover, titanium production in Brazil exceeded the figures recorded by the second-largest producer, Colombia (X tonnes), fivefold. The third position in this ranking was occupied by Guatemala (X tonnes), with a X% share.

From 2012 to 2021, the average annual growth rate of volume in Brazil amounted to +X%. The remaining producing countries recorded the following average annual rates of production growth: Colombia (+X% per year) and Guatemala (+X% per year).

Titanium Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of titanium sponge, powders, ingots and slabs were finally on the rise to reach X tonnes for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, faced a sharp reduction. Over the period under review, the exports reached the maximum at X tonnes in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, titanium exports expanded to $X in 2021. Overall, exports, however, showed a deep reduction. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Mexico (X tonnes) represented the major exporter of titanium sponge, powders, ingots and slabs, generating X% of total exports. It was distantly followed by Costa Rica (X kg) and Colombia (X kg), together achieving a X% share of total exports.

Exports from Mexico decreased at an average annual rate of -X% from 2012 to 2021. At the same time, Costa Rica (+X%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +X% from 2012-2021. By contrast, Colombia (-X%) illustrated a downward trend over the same period. While the share of Mexico (+X p.p.), Costa Rica (+X p.p.) and Colombia (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Costa Rica ($X) remains the largest titanium supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Costa Rica amounted to +X%. In the other countries, the average annual rates were as follows: Mexico (-X% per year) and Colombia (-X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per tonne in 2021, declining by -X% against the previous year. In general, the export price, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2020 an increase of X%. As a result, the export price reached the peak level of $X per tonne, and then fell remarkably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Costa Rica ($X per tonne), while Mexico ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+X%), while the other leaders experienced mixed trends in the export price figures.

Titanium Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of titanium sponge, powders, ingots and slabs decreased by -X% to X tonnes, falling for the third consecutive year after two years of growth. In general, imports recorded a slight decline. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of X tonnes. From 2014 to 2021, the growth imports remained at a lower figure.

In value terms, titanium imports dropped remarkably to $X in 2021. Over the period under review, imports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Brazil represented the main importer of titanium sponge, powders, ingots and slabs in Latin America and the Caribbean, with the volume of imports finishing at X tonnes, which was near X% of total imports in 2021. Argentina (X tonnes) occupied the second position in the ranking, distantly followed by Mexico (X tonnes), Costa Rica (X tonnes), Jamaica (X tonnes) and Peru (X tonnes). All these countries together held near X% share of total imports. The Dominican Republic (X tonnes) followed a long way behind the leaders.

Imports into Brazil decreased at an average annual rate of -X% from 2012 to 2021. At the same time, Costa Rica (+X%), Argentina (+X%), Jamaica (+X%) and Peru (+X%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2012-2021. By contrast, the Dominican Republic (-X%) and Mexico (-X%) illustrated a downward trend over the same period. Argentina (+X p.p.), Costa Rica (+X p.p.), Jamaica (+X p.p.) and Peru (+X p.p.) significantly strengthened its position in terms of the total imports, while Mexico and Brazil saw its share reduced by -X% and -X% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest titanium importing markets in Latin America and the Caribbean were Brazil ($X), Costa Rica ($X) and Argentina ($X), together comprising X% of total imports.

Costa Rica, 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 2021, the import price in Latin America and the Caribbean amounted to $X per tonne, reducing by -X% against the previous year. Over the period under review, the import price saw a mild curtailment. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The level of import peaked at $X per tonne in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Costa Rica ($X per tonne), while Argentina ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform