Middle East: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in the Middle East

The Middle Eastern titanium ore and concentrate market dropped notably to $X in 2022, declining by -64.4% against the previous year. Over the period under review, consumption, however, showed a abrupt shrinkage. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Titanium Ores and Concentrates in the Middle East

In value terms, titanium ore and concentrate production soared to $X in 2022 estimated in export price. In general, production continues to indicate a significant expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Titanium Ores and Concentrates

Exports in the Middle East

In 2022, the amount of titanium ores and concentrates exported in the Middle East skyrocketed to X tons, growing by 20% against the previous year. Overall, exports, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when exports increased by 98% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, titanium ore and concentrate exports skyrocketed to $X in 2022. Over the period under review, exports recorded a modest expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 286%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) was the major exporter of titanium ores and concentrates, mixing up 56% of total exports. It was distantly followed by Turkey (X tons) and Saudi Arabia (X tons), together making up a 44% share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of -8.0% from 2012 to 2022. At the same time, Turkey (+42.6%) and Saudi Arabia (+11.3%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +42.6% from 2012-2022. Turkey (+26 p.p.) and Saudi Arabia (+14 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -20.6% from 2012 to 2022, respectively.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) were the countries with the highest levels of exports in 2022, together comprising 100% of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of +45.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, jumping by 37% against the previous year. In general, the export price showed a prominent increase. The pace of growth was the most pronounced in 2019 when the export price increased by 138% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices failed to regain momentum.

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 Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.5%), while the other leaders experienced more modest paces of growth.

Imports of Titanium Ores and Concentrates

Imports in the Middle East

In 2022, approx. X tons of titanium ores and concentrates were imported in the Middle East; dropping by -67.5% against the year before. Overall, imports saw a deep reduction. The pace of growth appeared the most rapid in 2014 with an increase of 167%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, titanium ore and concentrate imports dropped dramatically to $X in 2022. Over the period under review, imports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of 42% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Turkey dominates imports structure, finishing at X tons, which was near 91% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), making up a 7.2% share of total imports.

Turkey was also the fastest-growing in terms of the titanium ores and concentrates imports, with a CAGR of +23.1% from 2012 to 2022. At the same time, the United Arab Emirates (+14.8%) displayed positive paces of growth. From 2012 to 2022, the share of Turkey and the United Arab Emirates increased by +87 and +6.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported titanium ores and concentrates in the Middle East, comprising 74% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total imports.

In Turkey, titanium ore and concentrate imports increased at an average annual rate of +7.8% over the period from 2012-2022.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, which is down by -18.4% against the previous year. Overall, the import price continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2015 an increase of 34% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-3.8%).

Source: IndexBox Platform

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