Latin America and the Caribbean: Titanium Market 2024

Titanium Market Size in Latin America and the Caribbean

The Latin American titanium market was finally on the rise to reach $X in 2022, after six years of decline. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Titanium Production in Latin America and the Caribbean

In value terms, titanium production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 22%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Titanium Exports

Exports in Latin America and the Caribbean

In 2022, exports of titanium sponge, powders, ingots and slabs in Latin America and the Caribbean fell significantly to X tons, which is down by -60.9% compared with the year before. Overall, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2021 when exports increased by 729% against the previous year. As a result, the exports attained the peak of X tons, and then shrank notably in the following year.

In value terms, titanium exports fell remarkably to $X in 2022. In general, exports showed a abrupt decline. The pace of growth appeared the most rapid in 2019 with an increase of 258%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Brazil (X tons) represented the largest exporter of titanium sponge, powders, ingots and slabs, comprising 81% of total exports. It was distantly followed by Costa Rica (X tons), generating a 19% share of total exports.

Exports from Brazil decreased at an average annual rate of -6.8% from 2012 to 2022. At the same time, Costa Rica (+49.1%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +49.1% from 2012-2022. From 2012 to 2022, the share of Costa Rica increased by +19 percentage points.

In value terms, the largest titanium supplying countries in Latin America and the Caribbean were Costa Rica ($X) and Brazil ($X).

Costa Rica, with a CAGR of +48.2%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, growing by 63% against the previous year. In general, the export price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 when the export price increased by 64%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat 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 Costa Rica ($X per ton), while Brazil stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (-0.5%).

Titanium Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of titanium sponge, powders, ingots and slabs increased by 100% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports recorded a noticeable increase. The pace of growth was the most pronounced in 2018 with an increase of 250%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, titanium imports surged to $X in 2022. In general, imports continue to indicate a measured increase. The most prominent rate of growth was recorded in 2018 when imports increased by 167%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons) and Mexico (X tons) dominates imports structure, together comprising 82% of total imports. It was distantly followed by Argentina (X tons), achieving a 7.2% share of total imports. The following importers - Jamaica (X tons) and Costa Rica (X tons) - each accounted for a 5.8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of +69.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported titanium sponge, powders, ingots and slabs in Latin America and the Caribbean, comprising 51% of total imports. The second position in the ranking was taken by Mexico ($X), with an 18% share of total imports. It was followed by Costa Rica, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+1.7% per year) and Costa Rica (+66.2% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, declining by -2.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 21% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Costa Rica ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jamaica (+2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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