Report Update Nov 1, 2024

Republic of Korea - Titanium Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in Republic of Korea

In 2022, the South Korean titanium ore and concentrate market increased by 21% to $X, rising for the second consecutive year after three years of decline. In general, consumption continues to indicate a deep contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Titanium Ores and Concentrates in Republic of Korea

In value terms, titanium ore and concentrate production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 41% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Titanium Ores and Concentrates

Exports from Republic of Korea

In 2022, approx. X tons of titanium ores and concentrates were exported from South Korea; with a decrease of -13.6% against 2021. Overall, exports, however, saw measured growth. The pace of growth appeared the most rapid in 2018 when exports increased by 62% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, titanium ore and concentrate exports shrank markedly to $X in 2022. In general, exports, however, enjoyed notable growth. The pace of growth was the most pronounced in 2018 with an increase of 61%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted markedly in the following year.

Exports by Country

China (X tons) was the main destination for titanium ore and concentrate exports from South Korea, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +6.0%.

In value terms, China ($X) also remains the key foreign market for titanium ores and concentrates exports from South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +7.0%.

Export Prices by Country

The average titanium ore and concentrate export price stood at $X per ton in 2022, falling by -6.7% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 27%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +0.9% per year.

Imports of Titanium Ores and Concentrates

Imports into Republic of Korea

In 2022, imports of titanium ores and concentrates into South Korea reduced dramatically to X tons, waning by -42.3% compared with the previous year's figure. Over the period under review, imports showed a deep slump. The growth pace was the most rapid in 2021 when imports increased by 105% 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 ore and concentrate imports reduced to $X in 2022. In general, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 67% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Norway (X tons), Vietnam (X tons) and Australia (X tons) were the main suppliers of titanium ore and concentrate imports to South Korea, with a combined 75% share of total imports. Kenya, Ukraine, Senegal, Sierra Leone and South Africa lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Kenya (with a CAGR of +162.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Kenya ($X), Vietnam ($X) and Ukraine ($X) appeared to be the largest titanium ore and concentrate suppliers to South Korea, together accounting for 53% of total imports.

Kenya, with a CAGR of +207.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average titanium ore and concentrate import price amounted to $X per ton, surging by 64% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kenya (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for titanium ores and concentrates in the world?

China remains the largest titanium ore and concentrate consuming country worldwide, comprising approx. 44% of total volume. Moreover, titanium ore and concentrate consumption in China exceeded the figures recorded by the second-largest consumer, Canada, fourfold. The United States ranked third in terms of total consumption with a 7.5% share.

What are the largest producers of titanium ores and concentrates in the world?

The countries with the highest volumes of in 2021 were China, Canada and South Africa, with a combined 58% share of global production. These countries were followed by Mozambique, Australia, Ukraine, Norway, Senegal, Madagascar, Kenya, South Korea, India and Vietnam, which together accounted for a further 38%. Moreover, titanium ore and concentrate production in China exceeded the figures recorded by the world's second-largest producer, Canada, twofold.

What are the leading suppliers of titanium ores and concentrates to Republic of Korea?

In value terms, Australia, India and Ukraine were the largest titanium ore and concentrate suppliers to South Korea, together accounting for 70% of total imports. These countries were followed by Senegal, South Africa, Sierra Leone and Vietnam, which together accounted for a further 27%.

What are the leading importers of titanium ores and concentrates from Republic of Korea?

In value terms, China remains the key foreign market for titanium ore and concentrate exports from South Korea.

What is the average export price for titanium ores and concentrates in Republic of Korea?

In 2021, the average titanium ore and concentrate export price amounted to $65 per ton, picking up by 11% against the previous year.

What is the average import price for titanium ores and concentrates in Republic of Korea?

The average titanium ore and concentrate import price stood at $636 per ton in 2021, picking up by 3.6% against the previous year.

This report provides an in-depth analysis of the market for titanium ore and concentrate in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023