Eastern Asia: Titanium Market 2024

Titanium Market Size in Eastern Asia

In 2022, the East Asian titanium market decreased by -0.9% to $X, falling for the second consecutive year after five years of growth. The total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -9.8% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Titanium Production in Eastern Asia

In value terms, titanium production rose significantly to $X in 2022 estimated in export price. The total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.9% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by 25% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Titanium Exports

Exports in Eastern Asia

In 2022, exports of titanium sponge, powders, ingots and slabs in Eastern Asia skyrocketed to X tons, surging by 36% against 2021. Overall, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, titanium exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a mild descent. The pace of growth was the most pronounced in 2021 when exports increased by 47%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan prevails in exports structure, amounting to X tons, which was near 92% of total exports in 2022. It was distantly followed by China (X tons), creating an 8.2% share of total exports.

Japan was also the fastest-growing in terms of the titanium sponge, powders, ingots and slabs exports, with a CAGR of +1.1% from 2012 to 2022. China (-4.8%) illustrated a downward trend over the same period. While the share of Japan (+6.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-5.8 p.p.) displayed negative dynamics.

In value terms, Japan ($X) remains the largest titanium supplier in Eastern Asia, comprising 90% of total exports. The second position in the ranking was taken by China ($X), with a 9.4% share of total exports.

In Japan, titanium exports plunged by an average annual rate of -1.2% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, which is down by -5.1% against the previous year. Overall, the export price saw a perceptible descent. The most prominent rate of growth was recorded in 2021 when the export price increased by 12%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.0%).

Titanium Imports

Imports in Eastern Asia

In 2022, imports of titanium sponge, powders, ingots and slabs in Eastern Asia shrank modestly to X tons, which is down by -1.8% on 2021 figures. In general, imports, however, recorded a pronounced expansion. The pace of growth appeared the most rapid in 2021 with an increase of 56% against the previous year. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, titanium imports dropped to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 63% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

China represented the main importing country with an import of around X tons, which resulted at 60% of total imports. South Korea (X tons) held a 35% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (4.7%).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +52.7%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, China ($X) constitutes the largest market for imported titanium sponge, powders, ingots and slabs in Eastern Asia, comprising 64% of total imports. The second position in the ranking was held by South Korea ($X), with a 31% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +35.0%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-7.9% per year) and Taiwan (Chinese) (-0.4% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, which is down by -8.7% against the previous year. Overall, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in 2020 an increase of 13%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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