Hong Kong SAR, China: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in Hong Kong SAR, China

After four years of growth, the Hong Kong titanium ore and concentrate market decreased by -18.8% to $X in 2022. Over the period under review, consumption continues to indicate a noticeable contraction. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Titanium Ores and Concentrates in Hong Kong SAR, China

In value terms, titanium ore and concentrate production expanded slightly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 13%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Titanium Ores and Concentrates

Exports from Hong Kong SAR, China

In 2022, overseas shipments of titanium ores and concentrates were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a dramatic shrinkage. The pace of growth was the most pronounced in 2015 when exports increased by 392%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, titanium ore and concentrate exports skyrocketed to $X in 2022. In general, exports, however, saw a abrupt curtailment. The growth pace was the most rapid in 2015 when exports increased by 411% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Iran (X tons) and Hungary (X tons) were the main destinations of titanium ore and concentrate exports from Hong Kong SAR, with a combined 87% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, Iran ($X) remains the key foreign market for titanium ores and concentrates exports from Hong Kong SAR, comprising 50% of total exports. The second position in the ranking was taken by China ($X), with a 12% share of total exports. It was followed by Hungary, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Iran stood at -13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-10.5% per year) and Hungary (0.0% per year).

Export Prices by Country

In 2022, the average titanium ore and concentrate export price amounted to $X per ton, surging by 7.7% against the previous year. Over the period under review, the export price recorded a noticeable expansion. The most prominent rate of growth was recorded in 2019 an increase of 55%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($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 Philippines (+27.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Titanium Ores and Concentrates

Imports into Hong Kong SAR, China

In 2022, overseas purchases of titanium ores and concentrates decreased by -8.2% to X tons, falling for the second year in a row after three years of growth. Overall, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 8,410%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, titanium ore and concentrate imports fell significantly to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 8,473% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Mozambique (X tons) constituted the largest titanium ore and concentrate supplier to Hong Kong SAR, with a 55% share of total imports. Moreover, titanium ore and concentrate imports from Mozambique exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), threefold. Ukraine (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume from Mozambique was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (-4.2% per year) and Ukraine (-26.8% per year).

In value terms, Mozambique ($X), Germany ($X) and the Netherlands ($X) constituted the largest titanium ore and concentrate suppliers to Hong Kong SAR, with a combined 33% share of total imports.

Germany, with a CAGR of +30.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average titanium ore and concentrate import price amounted to $X per ton, shrinking by -15.3% against the previous year. Overall, the import price, however, showed a prominent increase. The pace of growth was the most pronounced in 2021 an increase of 131% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+21.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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