China: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in China

The Chinese titanium ore and concentrate market dropped to $X in 2022, waning by -5.8% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2021, and then shrank in the following year.

Production of Titanium Ores and Concentrates in China

In value terms, titanium ore and concentrate production declined modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 55% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Titanium Ores and Concentrates

Exports from China

In 2022, the amount of titanium ores and concentrates exported from China dropped rapidly to X tons, with a decrease of -36.1% on the year before. Over the period under review, exports recorded a slight decline. The pace of growth appeared the most rapid in 2015 with an increase of 78%. The exports peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, titanium ore and concentrate exports contracted to $X in 2022. Overall, exports, however, enjoyed a modest increase. The most prominent rate of growth was recorded in 2018 when exports increased by 86%. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined modestly in the following year.

Exports by Country

India (X tons), Russia (X tons) and Indonesia (X tons) were the main destinations of titanium ore and concentrate exports from China, together accounting for 60% of total exports. Thailand, Bangladesh, Japan, the Philippines, Brazil, Kazakhstan and South Korea lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +55.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), India ($X) and Thailand ($X) were the largest markets for titanium ore and concentrate exported from China worldwide, together accounting for 65% of total exports. Indonesia, Bangladesh, Japan, the Philippines, Brazil, South Korea and Kazakhstan lagged somewhat behind, together comprising a further 23%.

Kazakhstan, with a CAGR of +101.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average titanium ore and concentrate export price stood at $X per ton in 2022, jumping by 56% against the previous year. In general, the export price posted temperate growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Russia ($X per ton), while the average price for exports to Kazakhstan ($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 Kazakhstan (+41.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Titanium Ores and Concentrates

Imports into China

In 2022, supplies from abroad of titanium ores and concentrates decreased by -9.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, saw mild growth. The pace of growth appeared the most rapid in 2017 when imports increased by 69%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, titanium ore and concentrate imports surged to $X in 2022. In general, imports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2017 when imports increased by 86%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Mozambique (X tons) constituted the largest titanium ore and concentrate supplier to China, accounting for a 48% share of total imports. Moreover, titanium ore and concentrate imports from Mozambique exceeded the figures recorded by the second-largest supplier, Kenya (X tons), sixfold. The third position in this ranking was held by Vietnam (X tons), with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume from Mozambique stood at +24.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Kenya (+11.7% per year) and Vietnam (-12.8% per year).

In value terms, Mozambique ($X) constituted the largest supplier of titanium ores and concentrates to China, comprising 48% of total imports. The second position in the ranking was held by Kenya ($X), with an 8.8% share of total imports. It was followed by Vietnam, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value from Mozambique stood at +31.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Kenya (+20.5% per year) and Vietnam (-10.0% per year).

Import Prices by Country

The average titanium ore and concentrate import price stood at $X per ton in 2022, growing by 31% against the previous year. Over the period under review, the import price recorded a modest increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by 36%. The import price peaked in 2022 and is likely to see steady growth in years to come.

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 India ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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