Malaysia: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in Malaysia

In 2022, after two years of growth, there was significant decline in the Malaysian titanium ore and concentrate market, when its value decreased by -7.8% to $X. Over the period under review, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +101.5% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2021, and then dropped in the following year.

Production of Titanium Ores and Concentrates in Malaysia

In value terms, titanium ore and concentrate production fell to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced setback. The growth pace was the most rapid in 2018 with an increase of 89% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Titanium Ores and Concentrates

Exports from Malaysia

In 2022, shipments abroad of titanium ores and concentrates decreased by -10.6% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports showed a slight descent. The pace of growth was the most pronounced in 2016 with an increase of 569% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, titanium ore and concentrate exports shrank to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 291% against the previous year. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

China (X tons) was the main destination for titanium ore and concentrate exports from Malaysia, with a 85% share of total exports. Moreover, titanium ore and concentrate exports to China exceeded the volume sent to the second major destination, India (X tons), sixfold.

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

In value terms, China ($X) remains the key foreign market for titanium ores and concentrates exports from Malaysia, comprising 80% of total exports. The second position in the ranking was held by India ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +4.1%.

Export Prices by Country

In 2022, the average titanium ore and concentrate export price amounted to $X per ton, falling by -3.1% against the previous year. In general, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 export price increased by +4.3% against 2020 indices. The growth pace was the most rapid in 2015 when the average export price increased by 68% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Titanium Ores and Concentrates

Imports into Malaysia

In 2022, after two years of growth, there was significant decline in overseas purchases of titanium ores and concentrates, when their volume decreased by -13.1% to X tons. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +102.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 74%. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, titanium ore and concentrate imports fell to $X in 2022. Over the period under review, imports, however, enjoyed a pronounced expansion. The growth pace was the most rapid in 2020 with an increase of 131% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then declined slightly in the following year.

Imports by Country

In 2022, Mozambique (X tons) constituted the largest titanium ore and concentrate supplier to Malaysia, accounting for a 44% share of total imports. Moreover, titanium ore and concentrate imports from Mozambique exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. Kenya (X tons) ranked third in terms of total imports with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mozambique totaled +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+3.4% per year) and Kenya (+105.9% per year).

In value terms, Mozambique ($X) constituted the largest supplier of titanium ores and concentrates to Malaysia, comprising 39% of total imports. The second position in the ranking was taken by Australia ($X), with an 18% share of total imports. It was followed by India, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Mozambique stood at +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+3.0% per year) and India (-3.3% per year).

Import Prices by Country

In 2022, the average titanium ore and concentrate import price amounted to $X per ton, increasing by 12% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 40%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 India ($X per ton), while the price for Kenya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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