MENA: Titanium Market 2024

Titanium Market Size in MENA

The MENA's titanium market amounted to $X in 2022, increasing by 4.4% against the previous year. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.2% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Titanium Production in MENA

In value terms, titanium production rose notably to $X in 2022 estimated in export price. The total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.6% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 22% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Titanium Exports

Exports in MENA

In 2022, after two years of growth, there was significant decline in shipments abroad of titanium sponge, powders, ingots and slabs, when their volume decreased by -13.8% to X tons. Overall, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 89,092% against the previous year. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, titanium exports declined to $X in 2022. In general, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 53,624% against the previous year. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

The shipments of the one major exporters of titanium sponge, powders, ingots and slabs, namely Saudi Arabia, represented more than two-thirds of total export.

Saudi Arabia was also the fastest-growing in terms of the titanium sponge, powders, ingots and slabs exports, with a CAGR of +69.6% from 2012 to 2022. While the share of Saudi Arabia (+37 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) also remains the largest titanium supplier in MENA.

In Saudi Arabia, titanium exports increased at an average annual rate of +81.7% over the period from 2012-2022.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, almost unchanged from the previous year. In general, the export price saw a noticeable decline. The most prominent rate of growth was recorded in 2017 an increase of 433%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Saudi Arabia.

From 2012 to 2022, the rate of growth in terms of prices for Saudi Arabia amounted to +7.1% per year.

Titanium Imports

Imports in MENA

In 2022, approx. X tons of titanium sponge, powders, ingots and slabs were imported in MENA; falling by -12.6% compared with the year before. Overall, imports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 67%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, titanium imports expanded significantly to $X in 2022. Over the period under review, imports saw a deep contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 150%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Qatar (X tons) was the major importer of titanium sponge, powders, ingots and slabs, achieving 42% of total imports. Bahrain (X tons) took the second position in the ranking, distantly followed by Egypt (X tons) and Israel (X tons). All these countries together took near 46% share of total imports. Turkey (X tons), Tunisia (X tons) and Iran (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +37.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Qatar ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2022, together comprising 67% of total imports. Bahrain, Egypt, Tunisia and Iran lagged somewhat behind, together comprising a further 21%.

In terms of the main importing countries, Egypt, with a CAGR of +32.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, growing by 31% against the previous year. Overall, the import price recorded strong growth. The most prominent rate of growth was recorded in 2016 an increase of 49%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+19.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform