Saudi Arabia: Titanium Market 2024

Titanium Market Size in Saudi Arabia

In 2022, the Saudi titanium market increased by 19% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 -21.4% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Titanium Production in Saudi Arabia

In value terms, titanium production soared to $X in 2022 estimated in export price. In general, production posted resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 733%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Titanium Exports

Exports from Saudi Arabia

In 2022, overseas shipments of titanium sponge, powders, ingots and slabs decreased by -14% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2016 when exports increased by 74% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then shrank in the following year.

In value terms, titanium exports fell rapidly to $X in 2022. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 44% against the previous year. As a result, the exports reached the peak of $X, and then dropped remarkably in the following year.

Exports by Country

The United States (X tons), China (X tons) and the UK (X tons) were the main destinations of titanium exports from Saudi Arabia, together accounting for 82% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +85.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for titanium exported from Saudi Arabia were China ($X), the United States ($X) and Estonia ($X), together accounting for 83% of total exports.

Among the main countries of destination, the United States, with a CAGR of +98.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average titanium export price amounted to $X per ton, falling by -1.5% against the previous year. Overall, the export price, however, recorded a resilient increase. The pace of growth was the most pronounced in 2013 when the average export price increased by 15%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then reduced modestly in the following year.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to China ($X per ton) and the United States ($X per ton), while the average price for exports to the UK ($X per ton) and Estonia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+18.8%), while the prices for the other major destinations experienced mixed trend patterns.

Titanium Imports

Imports into Saudi Arabia

In 2021, the amount of titanium sponge, powders, ingots and slabs imported into Saudi Arabia dropped notably to X tons, waning by -57.6% against the previous year. Over the period under review, imports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 92,775% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, titanium imports dropped remarkably to $X in 2021. In general, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 2,790%. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

In 2021, Germany (X tons) was the main titanium supplier to Saudi Arabia, with a 318% share of total imports. It was followed by China (X kg), with a 5.9% share of total imports.

From 2013 to 2021, the average annual growth rate of volume from Germany totaled +3,679.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-48.6% per year) and the United States (-60.4% per year).

In value terms, Germany ($X) constituted the largest supplier of titanium sponge, powders, ingots and slabs to Saudi Arabia, comprising 69% of total imports. The second position in the ranking was taken by the United States ($X), with a 25% share of total imports.

From 2013 to 2021, the average annual growth rate of value from Germany stood at +264.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.7% per year) and China (-36.8% per year).

Import Prices by Country

In 2021, the average titanium import price amounted to $X per ton, waning by -5.9% against the previous year. In general, the import price, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2019 an increase of 10,499% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by China (+23.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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