GCC: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in GCC

The GCC titanium ore and concentrate market dropped rapidly to $X in 2022, reducing by -84% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt descent. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Titanium Ores and Concentrates in GCC

In value terms, titanium ore and concentrate production skyrocketed to $X in 2022 estimated in export price. Overall, production continues to indicate a significant expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Titanium Ores and Concentrates

Exports in GCC

In 2022, exports of titanium ores and concentrates in GCC declined modestly to X tons, which is down by -2.7% on the previous year's figure. In general, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2015 when exports increased by 98% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, titanium ore and concentrate exports rose markedly to $X in 2022. Over the period under review, exports continue to indicate a slight setback. The most prominent rate of growth was recorded in 2019 when exports increased by 287%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the major exporter of titanium ores and concentrates, achieving 76% of total exports. It was distantly followed by Saudi Arabia (X tons), achieving a 24% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to titanium ore and concentrate exports from the United Arab Emirates stood at -8.0%. At the same time, Saudi Arabia (+11.3%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +11.3% from 2012-2022. Saudi Arabia (+19 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -19.5% from 2012 to 2022, respectively.

In value terms, the largest titanium ore and concentrate supplying countries in GCC were the United Arab Emirates ($X) and Saudi Arabia ($X).

In terms of the main exporting countries, Saudi Arabia, with a CAGR of +18.5%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, growing by 16% against the previous year. Over the period under review, the export price showed perceptible growth. The most prominent rate of growth was recorded in 2019 an increase of 139%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices remained at a lower figure.

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 Saudi Arabia ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.5%).

Imports of Titanium Ores and Concentrates

Imports in GCC

Titanium ore and concentrate imports shrank significantly to X tons in 2022, reducing by -96.6% on the previous year. In general, imports saw a significant decline. The most prominent rate of growth was recorded in 2014 with an increase of 242% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, titanium ore and concentrate imports declined dramatically to $X in 2022. Overall, imports faced a sharp curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 78%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X tons, which was approx. 91% of total imports in 2022. It was distantly followed by Bahrain (X tons), committing an 8.1% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to titanium ore and concentrate imports into the United Arab Emirates stood at +14.8%. At the same time, Bahrain (+18.4%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +18.4% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates and Bahrain increased by +90 and +8.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported titanium ores and concentrates in GCC, comprising 68% of total imports. The second position in the ranking was held by Bahrain ($X), with a 31% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to +10.4%.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, jumping by 109% against the previous year. In general, the import price posted a remarkable increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bahrain ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-3.8%).

Source: IndexBox Platform