Overview of the Global Market for Titanium Ores and Concentrates

Market Size for Titanium Ores and Concentrates

The global titanium ore and concentrate market declined slightly to $X in 2022, standing approx. at the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Global consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Titanium Ores and Concentrates

In value terms, titanium ore and concentrate production rose sharply to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 17%. Over the period under review, global production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Titanium Ores and Concentrates

Exports

In 2022, approx. X tons of titanium ores and concentrates were exported worldwide; dropping by -3.7% compared with the year before. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 32%. The global exports peaked at X tons in 2021, and then declined modestly in the following year.

In value terms, titanium ore and concentrate exports rose markedly to $X in 2022. In general, exports recorded a mild shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 36% against the previous year. Over the period under review, the global exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Mozambique (X tons), Norway (X tons), Australia (X tons) and South Africa (X tons) represented the main exporter of titanium ores and concentrates in the world, generating 63% of total export. It was distantly followed by Ukraine (X tons), mixing up a 6% share of total exports. The following exporters - the United States (X tons), South Korea (X tons), Sierra Leone (X tons), India (X tons), Senegal (X tons), Madagascar (X tons) and Canada (X tons) - together made up 24% of total exports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +84.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest titanium ore and concentrate supplying countries worldwide were Australia ($X), South Africa ($X) and Mozambique ($X), with a combined 49% share of global exports. Sierra Leone, Norway, Senegal, Ukraine, Madagascar, India, the United States, Canada and South Korea lagged somewhat behind, together accounting for a further 36%.

Canada, with a CAGR of +89.3%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average titanium ore and concentrate export price amounted to $X per ton, surging by 10% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 10%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+4.2%), while the other global leaders experienced more modest paces of growth.

Imports of Titanium Ores and Concentrates

Imports

In 2022, after two years of growth, there was significant decline in supplies from abroad of titanium ores and concentrates, when their volume decreased by -9.2% to X tons. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 38%. Global imports peaked at X tons in 2021, and then declined in the following year.

In value terms, titanium ore and concentrate imports surged to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 34% against the previous year. Over the period under review, global imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China represented the largest importing country with an import of around X tons, which finished at 45% of total imports. It was distantly followed by the United States (X tons), Germany (X tons) and Japan (X tons), together comprising a 24% share of total imports. The following importers - Norway (X tons), Canada (X tons), Belgium (X tons), the UK (X tons), Russia (X tons), the Czech Republic (X tons) and the Netherlands (X tons) - together made up 19% of total imports.

Imports into China increased at an average annual rate of +1.8% from 2012 to 2022. At the same time, Norway (+29.6%), the UK (+6.7%), the Czech Republic (+5.5%) and the United States (+1.2%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in the world, with a CAGR of +29.6% from 2012-2022. By contrast, Canada (-1.8%), Russia (-2.5%), the Netherlands (-3.5%), Germany (-3.9%), Belgium (-4.8%) and Japan (-5.0%) illustrated a downward trend over the same period. While the share of China (+10 p.p.), Norway (+3.4 p.p.) and the United States (+2.1 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Germany (-2.4 p.p.) and Japan (-3.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported titanium ores and concentrates worldwide, comprising 33% of global imports. The second position in the ranking was taken by the United States ($X), with a 12% share of global imports. It was followed by Japan, with an 11% share.

In China, titanium ore and concentrate imports expanded at an average annual rate of +3.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-1.1% per year) and Japan (-1.7% per year).

Import Prices by Country

The average titanium ore and concentrate import price stood at $X per ton in 2022, surging by 27% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Global import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Belgium ($X per ton), while Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+5.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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