Vietnam: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in Vietnam

The Vietnamese titanium ore and concentrate market expanded markedly to $X in 2022, increasing by X% against the previous year. Overall, consumption, however, saw a deep contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Titanium Ores and Concentrates in Vietnam

In value terms, titanium ore and concentrate production totaled $X in 2022 estimated in export price. Overall, production saw a deep setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Titanium Ores and Concentrates

Exports from Vietnam

In 2022, after two years of growth, there was significant decline in shipments abroad of titanium ores and concentrates, when their volume decreased by X% to X tons. Overall, exports saw a sharp setback. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, titanium ore and concentrate exports shrank remarkably to $X in 2022. In general, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for titanium ore and concentrate exports from Vietnam, with a X% share of total exports. Moreover, titanium ore and concentrate exports to China exceeded the volume sent to the second major destination, Turkey (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Japan (X% per year).

In value terms, China ($X) remains the key foreign market for titanium ores and concentrates exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Japan (X% per year).

Export Prices by Country

The average titanium ore and concentrate export price stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price enjoyed prominent growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Titanium Ores and Concentrates

Imports into Vietnam

In 2022, purchases abroad of titanium ores and concentrates increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, titanium ore and concentrate imports soared to $X in 2022. Overall, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

Kenya (X tons), Australia (X tons) and Ukraine (X tons) were the main suppliers of titanium ore and concentrate imports to Vietnam, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Kenya (with a CAGR of X.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest titanium ore and concentrate suppliers to Vietnam were Kenya ($X), Australia ($X) and Ukraine ($X), together accounting for X% of total imports.

Among the main suppliers, Kenya, with a CAGR of X.4%, saw the highest rates of growth with regard to 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 2022, the average titanium ore and concentrate import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price, however, saw a perceptible contraction. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Australia ($X per ton) and Kenya ($X per ton), while the price for China ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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