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World - Titanium Ores and Concentrates - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

World - Titanium Ores and Concentrates - Market Analysis, Forecast, Size, Trends And Insights

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Aug 6, 2021

Titanium Prices to Keep Elevated on Production Shortages and Rising Demand from the Paint and Aerospace Industries

IndexBox has just published a new report: 'World - Titanium Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

In the first half of 2021, prices for titanium and its derivatives shot up in response to rising demand and a drop in titanium mining last year, as well as titanium shaving stocks reduction. The rebound in the chemical and aerospace industries is a key driver for the rising demand for the metal. The potential use of titanium derivatives in alternative energy is set to stimulate further market expansion. Robust demand expectations are to keep prices elevated in the immediate term.

Key Trends and Insights

In 2021, the recovering demand from the downstream industries led to an increase in titanium prices. According to data from Asian Metal, the price for Chinese titanium sponge rose from a low of $6.9 per kg in July 2020 to $10.5 per kg in June 2021.

The prices of titanium scrap jumped in 2021 due to a drop in global stocks of titanium shavings, a byproduct of aircraft manufacturing. According to IndexBox estimates, the average import price for titanium scrap increased from $2.9 per kg in January 2021 to $4.1 in April 2021. During this period, the import price for titanium dioxide increased from $2.6 to $3.2 per kg, while the import price for titanium fluctuated within the range of $11.3 - $14.7 per kg. Strong expectations of further market growth are expected to drive prices further in the medium term, at least until any new positive data on titanium mining will arrive.

According to IndexBox estimates based on USGS data, the global production of titanium ores and concentrates in 2020 decreased by 1.2% y-o-y to 13M tons. The 2020 lockdowns led to a drop in demand for titanium concentrates from stagnating chemical, metallurgical and aerospace industries. The pandemic-related mine closures were also a factor behind the production drop.

The growth in demand for titanium from the paint and varnish industries remains the main market driver. Titanium dioxide is one of the most sought-after pigments and fillers in the paint, coating and plastics industries. The demand for paints and varnishes is growing markedly due to the construction boom and the recovery of the automotive industry. The rising trend in the construction of super-large container ships will be relevant in the medium term and should sharpen the need for paints with titanium dioxide.

The reopening of air travel and water transport will increase the need for the renewal of aircraft fleets and will lead to a further increase in demand for titanium as it is the main metal used in their construction. One of the world's largest airliner manufacturers, Airbus, has announced plans to expand production, expecting the demand for airliners to recover to pre-crisis levels within the next two years. According to quarterly reports for 2021, Boeing and Airbus increased aircraft deliveries in the second quarter of this year compared to the same period in 2020, which indicates a recovery in demand.

The commercialization of technology for manufacturing semiconductor photocatalysts based on titanium dioxide, which are used for hydrogen fuel production, water and air purification, etc, may act as a new stimulus for the titanium market to develop. Industrial filters based on titanium dioxide neutralize organic gas emissions by converting them into carbon dioxide and water. This process could become a cheaper alternative to the traditional after-burning of factory off-gases. Titanium dioxide can be used in manufacturing solar cells and batteries. This technology could compete commercially with traditional silicon batteries if the efficiency of titanium dioxide batteries can be raised by up to 30%.

Global Titanium Ore Production by Country

In 2020, after two years of growth, there was decline in production of titanium ores and concentrates, when its volume decreased by -1.2% to 13M tons. In value terms, titanium ore and concentrate production shrank slightly to $7.8B in 2020 estimated in export prices.

The countries with the highest volumes of titanium ore and concentrate production in 2020 were China (4.2M tons), Canada (2.1M tons) and Mozambique (1M tons), with a combined 56% share of global production. These countries were followed by South Africa, Australia, Ukraine, Norway, Senegal, Madagascar, Kenya, South Korea, India and Vietnam, which together accounted for a further 40%. Moreover, titanium ore and concentrate production in China exceeded the figures recorded by the world's second-largest producer, Canada, twofold.

From 2012 to 2020, the most notable rate of growth in terms of titanium ore and concentrate production, amongst the leading producing countries, was attained by Senegal, while titanium ore and concentrate production for the other global leaders experienced more modest paces of growth.

Global Titanium Ore Exports by Country

In 2020, shipments abroad of titanium ores and concentrates decreased by -20.3% to 3.1M tons, falling for the third year in a row after two years of growth. In value terms, titanium ore and concentrate exports fell to $1.3B (IndexBox estimates) in 2020.

In 2020, South Africa (724K tons), Ukraine (539K tons), Senegal (509K tons), Kenya (400K tons), South Korea (275K tons) and India (255K tons) represented the key exporter of titanium ores and concentrates in the world, achieving 86% of total export. It was distantly followed by Australia (152K tons), committing a 4.8% share of total exports. The U.S. (58K tons) took a little share of total exports.

In value terms, South Africa ($486M) remains the largest titanium ore and concentrate supplier worldwide, comprising 38% of global exports. The second position in the ranking was occupied by Kenya ($157M), with a 12% share of global exports. It was followed by Ukraine, with a 11% share.

In 2020, the average titanium ore and concentrate export price amounted to $408 per ton, rising by 19% against the previous year. From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Kenya, while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global market for titanium ore and concentrate. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

    + the largest producing countries

    Data coverage:

    • Global market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Global production, split by region and country
    • Global trade (exports and imports)
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Company coverage:

    Chemours, Iluka Resources, Rio Tinto, Trimex Industries, Tronox, Group DF, Honeywell Electronic Materials Inc., Titanium Metals Corp., Timet Henderson, Image Resources NL, Base Resources Ltd., Kenmare Resources PLC, TiZir Ltd., Mineral Deposits Ltd., Mineral Commodities Ltd., Strandline Resources Ltd., Allegheny Technologies, Sumitomo Corporation, VSMPO-AVISMA Corporation, DuPont Titanium Technologies

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. CONSUMPTION BY COUNTRY
      3. MARKET FORECAST TO 2030

    4. 4. MOST PROMISING PRODUCT

      Finding New Products to Diversify Your Business

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCT
      4. MOST TRADED PRODUCT
      5. MOST PROFITABLE PRODUCT FOR EXPORT

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Exports

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. GLOBAL PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
      2. PRODUCTION BY COUNTRY

    8. 8. GLOBAL IMPORTS

      The Largest Importers on The Market and How They Succeed

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. GLOBAL EXPORTS

      The Largest Exporters on The Market and How They Succeed

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. 11. COUNTRY PROFILES

      The Largest Markets And Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
      • United States
      • China
      • Japan
      • Germany
      • United Kingdom
      • France
      • Brazil
      • Italy
      • Russian Federation
      • India
      • Canada
      • Australia
      • Republic of Korea
      • Spain
      • Mexico
      • Indonesia
      • Netherlands
      • Turkey
      • Saudi Arabia
      • Switzerland
      • Sweden
      • Nigeria
      • Poland
      • Belgium
      • Argentina
      • Norway
      • Austria
      • Thailand
      • United Arab Emirates
      • Colombia
      • Denmark
      • South Africa
      • Malaysia
      • Israel
      • Singapore
      • Egypt
      • Philippines
      • Finland
      • Chile
      • Ireland
      • Pakistan
      • Greece
      • Portugal
      • Kazakhstan
      • Algeria
      • Czech Republic
      • Qatar
      • Peru
      • Romania
      • Vietnam

    12. LIST OF TABLES

      1. Key Findings In 2023
      2. Market Volume, In Physical Terms, 2012–2023
      3. Market Value, 2012–2023
      4. Per Capita Consumption, By Country, 2018–2023
      5. Production, In Physical Terms, By Country, 2012–2023
      6. Imports, In Physical Terms, By Country, 2012–2023
      7. Imports, In Value Terms, By Country, 2012–2023
      8. Import Prices, By Country Of Destination, 2012–2023
      9. Exports, In Physical Terms, By Country, 2012–2023
      10. Exports, In Value Terms, By Country, 2012–2023
      11. Export Prices, By Country Of Origin, 2012–2023

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Consumption, By Country, 2023
      4. Market Volume Forecast to 2030
      5. Market Value Forecast to 2030
      6. Products: Market Size And Growth, By Type
      7. Products: Average Per Capita Consumption, By Type
      8. Products: Exports And Growth, By Type
      9. Products: Export Prices And Growth, By Type
      10. Production Volume And Growth
      11. Exports And Growth
      12. Export Prices And Growth
      13. Market Size And Growth
      14. Per Capita Consumption
      15. Imports And Growth
      16. Import Prices
      17. Production, In Physical Terms, 2012–2023
      18. Production, In Value Terms, 2012–2023
      19. Production, By Country, 2023
      20. Production, In Physical Terms, By Country, 2012–2023
      21. Imports, In Physical Terms, 2012–2023
      22. Imports, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, By Country, 2023
      24. Imports, In Physical Terms, By Country, 2012–2023
      25. Imports, In Value Terms, By Country, 2012–2023
      26. Import Prices, By Country, 2012–2023
      27. Exports, In Physical Terms, 2012–2023
      28. Exports, In Value Terms, 2012–2023
      29. Exports, In Physical Terms, By Country, 2023
      30. Exports, In Physical Terms, By Country, 2012–2023
      31. Exports, In Value Terms, By Country, 2012–2023
      32. Export Prices, 2012–2023

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