Asia-Pacific: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in Asia-Pacific

The Asia-Pacific titanium ore and concentrate market contracted to $X in 2022, which is down by -1.7% against the previous year. Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Titanium Ores and Concentrates in Asia-Pacific

In value terms, titanium ore and concentrate production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable setback. The pace of growth appeared the most rapid in 2018 with an increase of 40% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Titanium Ores and Concentrates

Exports in Asia-Pacific

For the fourth year in a row, Asia-Pacific recorded decline in overseas shipments of titanium ores and concentrates, which decreased by -0.7% to X tons in 2022. In general, exports recorded a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of 8.9% 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 rose significantly to $X in 2022. Overall, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2021 when exports increased by 18% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Australia represented the major exporter of titanium ores and concentrates in Asia-Pacific, with the volume of exports amounting to X tons, which was approx. 56% of total exports in 2022. It was distantly followed by South Korea (X tons), India (X tons) and Sri Lanka (X tons), together comprising a 38% share of total exports. The following exporters - Vietnam (X tons) and China (X tons) - each recorded a 4% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to titanium ore and concentrate exports from Australia stood at -6.0%. At the same time, Sri Lanka (+7.3%) and South Korea (+4.1%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +7.3% from 2012-2022. By contrast, China (-1.8%), India (-12.9%) and Vietnam (-15.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, Sri Lanka and Australia increased by +12, +3.5 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest titanium ore and concentrate supplier in Asia-Pacific, comprising 75% of total exports. The second position in the ranking was held by India ($X), with an 11% share of total exports. It was followed by China, with a 4.7% share.

In Australia, titanium ore and concentrate exports declined by an average annual rate of -6.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (-11.6% per year) and China (+1.4% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by 13% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 36% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the other leaders experienced more modest paces of growth.

Imports of Titanium Ores and Concentrates

Imports in Asia-Pacific

After two years of growth, supplies from abroad of titanium ores and concentrates decreased by -7% to X tons in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 51% against the previous year. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, titanium ore and concentrate imports soared to $X in 2022. Over the period under review, imports, however, saw a slight expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 51% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

China was the largest importing country with an import of around X tons, which finished at 81% of total imports. It was distantly followed by Japan (X tons), generating an 11% share of total imports. The following importers - Malaysia (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) - each resulted at a 5.9% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to titanium ore and concentrate imports into China stood at +1.8%. At the same time, Malaysia (+5.0%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +5.0% from 2012-2022. By contrast, Taiwan (Chinese) (-2.6%), Japan (-5.0%) and South Korea (-6.6%) illustrated a downward trend over the same period. China (+12 p.p.) significantly strengthened its position in terms of the total imports, while South Korea and Japan saw its share reduced by -1.6% and -7.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported titanium ores and concentrates in Asia-Pacific, comprising 65% of total imports. The second position in the ranking was taken by Japan ($X), with a 21% share of total imports. It was followed by Taiwan (Chinese), with a 3.7% share.

In China, titanium ore and concentrate imports increased 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: Japan (-1.7% per year) and Taiwan (Chinese) (-4.4% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, surging by 36% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+3.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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