Belgium: Titanium Market 2024

Titanium Market Size in Belgium

After two years of growth, the Belgian titanium market decreased by -2.9% to $X in 2022. Over the period under review, consumption continues to indicate a noticeable reduction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Titanium Production in Belgium

In value terms, titanium production rose modestly to $X in 2022 estimated in export price. Overall, production recorded a pronounced decrease. The most prominent rate of growth was recorded in 2017 with an increase of 16%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Titanium Exports

Exports from Belgium

In 2022, after three years of growth, there was significant decline in shipments abroad of titanium sponge, powders, ingots and slabs, when their volume decreased by -45.6% to X tons. Over the period under review, exports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2019 with an increase of 709%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then shrank rapidly in the following year.

In value terms, titanium exports fell sharply to $X in 2022. Overall, exports continue to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2019 with an increase of 615%. The exports peaked at $X in 2021, and then fell rapidly in the following year.

Exports by Country

Argentina (X tons) was the main destination for titanium exports from Belgium, accounting for a 73% share of total exports. Moreover, titanium exports to Argentina exceeded the volume sent to the second major destination, South Korea (X tons), sevenfold. The third position in this ranking was taken by Switzerland (X tons), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Argentina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+67.7% per year) and Switzerland (+101.2% per year).

In value terms, South Korea ($X) remains the key foreign market for titanium sponge, powders, ingots and slabs exports from Belgium, comprising 32% of total exports. The second position in the ranking was held by the UK ($X), with a 13% share of total exports. It was followed by Switzerland, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea amounted to +73.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+125.1% per year) and Switzerland (+161.2% per year).

Export Prices by Country

In 2022, the average titanium export price amounted to $X per ton, with a decrease of -59.1% against the previous year. Over the period under review, the export price continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 68% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Argentina ($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 Japan (+35.8%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Imports

Imports into Belgium

In 2022, the amount of titanium sponge, powders, ingots and slabs imported into Belgium reduced notably to X tons, shrinking by -50.8% compared with the year before. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 126%. As a result, imports attained the peak of X tons, and then reduced dramatically in the following year.

In value terms, titanium imports contracted significantly to $X in 2022. In general, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +6.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 72%. As a result, imports attained the peak of $X, and then shrank notably in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of titanium to Belgium, with a 39% share of total imports. Moreover, titanium imports from Russia exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia totaled -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+95.2% per year) and Germany (+18.1% per year).

In value terms, Canada ($X) constituted the largest supplier of titanium sponge, powders, ingots and slabs to Belgium, comprising 45% of total imports. The second position in the ranking was taken by Russia ($X), with a 17% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Canada stood at +26.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-4.6% per year) and China (-3.0% per year).

Import Prices by Country

In 2022, the average titanium import price amounted to $X per ton, surging by 25% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, titanium import price decreased by -4.3% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the average import price increased by 95%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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