Europe: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in Europe

In 2022, the Europe titanium ore and concentrate market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. In general, consumption, however, showed a mild slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Titanium Ores and Concentrates in Europe

In value terms, titanium ore and concentrate production reached $X in 2022 estimated in export price. In general, production recorded a noticeable contraction. The growth pace was the most rapid in 2018 with an increase of 22%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Titanium Ores and Concentrates

Exports in Europe

After three years of growth, shipments abroad of titanium ores and concentrates decreased by -18.2% to X tons in 2022. In general, exports, however, enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 48%. The volume of export peaked at X tons in 2021, and then fell dramatically in the following year.

In value terms, titanium ore and concentrate exports dropped markedly to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 48%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank sharply in the following year.

Exports by Country

In 2022, Norway (X tons) was the largest exporter of titanium ores and concentrates, committing 67% of total exports. Ukraine (X tons) held a 23% share (based on physical terms) of total exports, which put it in second place, followed by Belgium (5.3%). The following exporters - the Netherlands (X tons) and Germany (X tons) - each finished at a 4.4% share of total exports.

Norway was also the fastest-growing in terms of the titanium ores and concentrates exports, with a CAGR of +10.6% from 2012 to 2022. At the same time, Germany (+8.6%) and Ukraine (+3.3%) displayed positive paces of growth. By contrast, the Netherlands (-5.2%) and Belgium (-8.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Norway increased by +30 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Norway ($X) remains the largest titanium ore and concentrate supplier in Europe, comprising 48% of total exports. The second position in the ranking was held by Ukraine ($X), with a 21% share of total exports. It was followed by Belgium, with an 18% share.

From 2012 to 2022, the average annual growth rate of value in Norway stood at +2.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Ukraine (+3.5% per year) and Belgium (-2.8% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, picking up by 2.2% against the previous year. In general, the export price, however, recorded a noticeable curtailment. The growth pace was the most rapid in 2018 an increase of 26%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Belgium ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+6.0%), while the other leaders experienced more modest paces of growth.

Imports of Titanium Ores and Concentrates

Imports in Europe

In 2022, imports of titanium ores and concentrates in Europe shrank to X tons, waning by -5.3% against 2021 figures. Overall, imports saw a slight curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 30% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, titanium ore and concentrate imports rose remarkably to $X in 2022. In general, imports recorded a pronounced setback. The pace of growth appeared the most rapid in 2017 with an increase of 29% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons), distantly followed by Norway (X tons), Belgium (X tons), the UK (X tons), Russia (X tons), the Czech Republic (X tons), the Netherlands (X tons) and Spain (X tons) represented the main importers of titanium ores and concentrates, together mixing up 88% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Norway (with a CAGR of +29.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest titanium ore and concentrate importing markets in Europe were Belgium ($X), Germany ($X) and the UK ($X), with a combined 56% share of total imports. The Netherlands, Norway, Russia, the Czech Republic and Spain lagged somewhat behind, together comprising a further 34%.

In terms of the main importing countries, Norway, with a CAGR of +36.7%, saw the highest growth rate of 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 import price in Europe stood at $X per ton in 2022, increasing by 17% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 18% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform