Iran: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in Iran

In 2022, the Iranian titanium ore and concentrate market increased by 72% to $X for the first time since 2015, thus ending a six-year declining trend. Overall, consumption, however, showed a sharp downturn. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Titanium Ores and Concentrates

Exports from Iran

In 2022, after two years of growth, there was significant decline in shipments abroad of titanium ores and concentrates, when their volume decreased by -31.8% to X tons. In general, exports showed a sharp reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 179%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, titanium ore and concentrate exports dropped markedly to $X in 2022. Overall, exports continue to indicate a dramatic contraction. The growth pace was the most rapid in 2021 when exports increased by 93%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Uzbekistan (X tons) was the main destination for titanium ore and concentrate exports from Iran, accounting for a 100% share of total exports. It was followed by China (X kg), with a 0.5% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Uzbekistan was relatively modest.

In value terms, Uzbekistan ($X) emerged as the key foreign market for titanium ores and concentrates exports from Iran, comprising 100% of total exports. The second position in the ranking was held by China ($X), with a 0.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Uzbekistan was relatively modest.

Export Prices by Country

The average titanium ore and concentrate export price stood at $X per ton in 2022, growing by 11% against the previous year. In general, the export price, however, continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 63% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-0.2%).

Imports of Titanium Ores and Concentrates

Imports into Iran

After six years of decline, overseas purchases of titanium ores and concentrates increased by 67% to X tons in 2022. In general, imports, however, continue to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 367%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, titanium ore and concentrate imports skyrocketed to $X in 2022. Over the period under review, imports, however, faced a precipitous descent. The most prominent rate of growth was recorded in 2013 when imports increased by 466% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Hong Kong SAR (X tons), the United Arab Emirates (X tons) and Ukraine (X tons) were the main suppliers of titanium ore and concentrate imports to Iran, with a combined 61% share of total imports. Australia, Thailand, China, Uzbekistan, Turkey and South Africa lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Uzbekistan (with a CAGR of 0.0%), while imports for the other leaders experienced a decline.

In value terms, the largest titanium ore and concentrate suppliers to Iran were Hong Kong SAR ($X), the United Arab Emirates ($X) and Ukraine ($X), with a combined 64% share of total imports. China, Thailand, South Africa, Turkey, Australia and Uzbekistan lagged somewhat behind, together comprising a further 24%.

Uzbekistan, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average titanium ore and concentrate import price stood at $X per ton in 2022, shrinking by -8% against the previous year. In general, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, titanium ore and concentrate import price increased by +66.1% against 2017 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by 42% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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