MENA: Titanium Market 2023

Titanium Market Size in MENA

In 2021, after three years of growth, there was decline in the MENA's titanium market, when its value decreased by -3.7% to $X. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then shrank slightly in the following year.

Titanium Production in MENA

In value terms, titanium production shrank to $X in 2021 estimated in export price. The total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +72.8% against 2014 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 22% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Titanium Exports

Exports in MENA

In 2021, shipments abroad of titanium sponge, powders, ingots and slabs increased by 133% to X tons, rising for the fourth year in a row after two years of decline. In general, exports posted a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 324% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, titanium exports surged to $X in 2021. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 336%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

The biggest shipments were from Saudi Arabia (X tons), together reaching 100% of total export.

Saudi Arabia was also the fastest-growing in terms of the titanium sponge, powders, ingots and slabs exports, with a CAGR of +91.6% from 2012 to 2021. From 2012 to 2021, the share of Saudi Arabia increased by +70 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) also remains the largest titanium supplier in MENA.

In Saudi Arabia, titanium exports increased at an average annual rate of +64.3% over the period from 2012-2021.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, declining by -38% against the previous year. Over the period under review, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2015 an increase of 229%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Saudi Arabia.

From 2012 to 2021, the rate of growth in terms of prices for Saudi Arabia amounted to -14.3% per year.

Titanium Imports

Imports in MENA

In 2021, overseas purchases of titanium sponge, powders, ingots and slabs were finally on the rise to reach X tons after four years of decline. Overall, imports, however, saw a deep reduction. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, titanium imports dropped to $X in 2021. Over the period under review, imports, however, faced a abrupt curtailment. The growth pace was the most rapid in 2016 when imports increased by 151% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Qatar represented the main importer of titanium sponge, powders, ingots and slabs in MENA, with the volume of imports amounting to X tons, which was approx. 69% of total imports in 2021. It was distantly followed by Bahrain (X tons), mixing up a 15% share of total imports. Turkey (X tons), Saudi Arabia (X tons), Iran (X tons) and Tunisia (X tons) held a minor share of total imports.

Imports into Qatar decreased at an average annual rate of -8.2% from 2012 to 2021. At the same time, Tunisia (+16.5%), Iran (+14.9%) and Saudi Arabia (+6.7%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing importer imported in MENA, with a CAGR of +16.5% from 2012-2021. Turkey experienced a relatively flat trend pattern. By contrast, Bahrain (-11.7%) illustrated a downward trend over the same period. While the share of Qatar (+30 p.p.), Turkey (+3 p.p.), Bahrain (+2.9 p.p.), Saudi Arabia (+2.4 p.p.), Iran (+1.9 p.p.) and Tunisia (+1.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Qatar ($X) constitutes the largest market for imported titanium sponge, powders, ingots and slabs in MENA, comprising 41% of total imports. The second position in the ranking was held by Turkey ($X), with a 12% share of total imports. It was followed by Bahrain, with a 10% share.

In Qatar, titanium imports decreased by an average annual rate of -13.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+7.5% per year) and Bahrain (-13.2% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, waning by -49.3% against the previous year. Over the period under review, the import price, however, recorded modest growth. The pace of growth was the most pronounced in 2016 when the import price increased by 51% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Turkey ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+8.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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