Japan: Titanium Market 2024

Titanium Market Size in Japan

The Japanese titanium market shrank sharply to $X in 2022, declining by -34.8% against the previous year. Overall, consumption recorded a slight descent. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Titanium Production in Japan

In value terms, titanium production stood at $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 52%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Titanium Exports

Exports from Japan

Titanium exports from Japan skyrocketed to X tons in 2022, rising by 31% compared with the year before. Over the period under review, total exports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +71.2% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, titanium exports surged to $X in 2022. Overall, exports, however, saw a slight reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 47%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for titanium exports from Japan, accounting for a 71% share of total exports. Moreover, titanium exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), sixfold. The third position in this ranking was taken by China (X tons), with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-4.1% per year) and China (+90.4% per year).

In value terms, the United States ($X) remains the key foreign market for titanium sponge, powders, ingots and slabs exports from Japan, comprising 69% of total exports. The second position in the ranking was taken by the UK ($X), with a 13% share of total exports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-7.4% per year) and China (+71.4% per year).

Export Prices by Country

In 2022, the average titanium export price amounted to $X per ton, falling by -6.2% against the previous year. Overall, the export price showed a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 South Korea (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Imports

Imports into Japan

In 2022, approx. X tons of titanium sponge, powders, ingots and slabs were imported into Japan; dropping by -81.9% against the year before. Over the period under review, imports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2020 with an increase of 274% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, titanium imports contracted notably to $X in 2022. In general, imports showed a dramatic curtailment. The pace of growth was the most pronounced in 2020 with an increase of 144%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of titanium to Japan, accounting for a 75% share of total imports. Moreover, titanium imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from China totaled -26.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-20.8% per year) and Canada (+65.0% per year).

In value terms, Canada ($X), China ($X) and the United States ($X) were the largest titanium suppliers to Japan, with a combined 98% share of total imports.

Canada, with a CAGR of +54.4%, saw the highest growth rate of 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

In 2022, the average titanium import price amounted to $X per ton, with an increase of 57% against the previous year. Over the period under review, the import price recorded a prominent increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 189%. The import price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for China ($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 United States (+11.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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