India: Titanium Market 2024

Titanium Market Size in India

In 2022, after five years of growth, there was significant decline in the Indian titanium market, when its value decreased by -10.1% to $X. Over the period under review, consumption, however, saw a remarkable increase. Titanium consumption peaked at $X in 2021, and then reduced in the following year.

Titanium Production in India

In value terms, titanium production dropped rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of 8,185% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Titanium Exports

Exports from India

In 2022, shipments abroad of titanium sponge, powders, ingots and slabs increased by 47% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2018 with an increase of 2,865% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, titanium exports dropped to $X in 2022. Overall, exports showed a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 6,353% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X tons) was the main destination for titanium exports from India, accounting for a 81% share of total exports. Moreover, titanium exports to the UK exceeded the volume sent to the second major destination, Canada (X kg), tenfold. The United States (X kg) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK amounted to +26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+29.8% per year) and the United States (+37.5% per year).

In value terms, the UK ($X) emerged as the key foreign market for titanium sponge, powders, ingots and slabs exports from India, comprising 61% of total exports. The second position in the ranking was held by Sweden ($X), with a 12% share of total exports. It was followed by Canada, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK amounted to +27.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+93.6% per year) and Canada (+37.8% per year).

Export Prices by Country

The average titanium export price stood at $X per ton in 2022, falling by -36.8% against the previous year. In general, the export price recorded a abrupt decline. The growth pace was the most rapid in 2017 when the average export price increased by 136%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to the UK ($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 Nepal (+73.5%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Imports

Imports into India

After two years of growth, purchases abroad of titanium sponge, powders, ingots and slabs decreased by -23.4% to X tons in 2022. In general, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 259% against the previous year. Imports peaked at X tons in 2021, and then dropped markedly in the following year.

In value terms, titanium imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2013 when imports increased by 435%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Kazakhstan (X tons) constituted the largest titanium supplier to India, accounting for a 46% share of total imports. Moreover, titanium imports from Kazakhstan exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold. China (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Kazakhstan stood at +46.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+47.3% per year) and China (+55.4% per year).

In value terms, Kazakhstan ($X) constituted the largest supplier of titanium sponge, powders, ingots and slabs to India, comprising 38% of total imports. The second position in the ranking was taken by the UK ($X), with an 18% share of total imports. It was followed by Russia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Kazakhstan totaled +40.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+71.9% per year) and Russia (+32.4% per year).

Import Prices by Country

The average titanium import price stood at $X per ton in 2022, surging by 58% against the previous year. In general, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, titanium import price increased by +69.6% against 2019 indices. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (-3.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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