Belgium: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in Belgium

In 2022, the Belgian titanium ore and concentrate market was finally on the rise to reach $X after two years of decline. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the near future.

Exports of Titanium Ores and Concentrates

Exports from Belgium

After two years of growth, overseas shipments of titanium ores and concentrates decreased by -40% to X tons in 2022. Over the period under review, exports saw a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 328%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, titanium ore and concentrate exports fell slightly to $X in 2022. In general, exports showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 410%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for titanium ore and concentrate exports from Belgium, with a 86% share of total exports. Moreover, titanium ore and concentrate exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X tons), more than tenfold. The third position in this ranking was taken by Canada (X tons), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled -9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+0.4% per year) and Canada (+206.7% per year).

In value terms, Germany ($X) remains the key foreign market for titanium ores and concentrates exports from Belgium, comprising 75% of total exports. The second position in the ranking was taken by Canada ($X), with a 14% share of total exports. It was followed by the Netherlands, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+190.8% per year) and the Netherlands (+15.9% per year).

Export Prices by Country

The average titanium ore and concentrate export price stood at $X per ton in 2022, picking up by 60% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, titanium ore and concentrate export price increased by +70.6% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the United States ($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 the Netherlands (+15.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Titanium Ores and Concentrates

Imports into Belgium

In 2022, imports of titanium ores and concentrates into Belgium amounted to X tons, leveling off at 2021. Over the period under review, imports, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2017 with an increase of 64% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, titanium ore and concentrate imports soared to $X in 2022. In general, imports, however, showed a pronounced slump. The growth pace was the most rapid in 2017 when imports increased by 67% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Sierra Leone (X tons), South Africa (X tons) and Norway (X tons) were the main suppliers of titanium ore and concentrate imports to Belgium, with a combined 78% share of total imports. Kenya, Australia, China and Germany lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Kenya (with a CAGR of +77.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X), South Africa ($X) and Norway ($X) appeared to be the largest titanium ore and concentrate suppliers to Belgium, together comprising 75% of total imports. Kenya, Australia, China and Germany lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, Kenya, with a CAGR of +115.1%, recorded 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

The average titanium ore and concentrate import price stood at $X per ton in 2022, with an increase of 26% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kenya (+21.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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