Scandinavia: Titanium Market 2024

Titanium Market Size in Scandinavia

The Scandinavia titanium market reached $X in 2022, with an increase of 2.5% against the previous year. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Titanium Production in Scandinavia

In value terms, titanium production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 24%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Titanium Exports

Exports in Scandinavia

In 2022, approx. X tons of titanium sponge, powders, ingots and slabs were exported in Scandinavia; which is down by -32.2% on the previous year's figure. In general, exports, however, saw slight growth. The most prominent rate of growth was recorded in 2013 when exports increased by 43% 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 exports dropped sharply to $X in 2022. Over the period under review, exports saw a perceptible descent. The most prominent rate of growth was recorded in 2013 when exports increased by 57%. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden dominates exports structure, reaching X tons, which was near 90% of total exports in 2022. It was distantly followed by Finland (X tons), achieving a 9.3% share of total exports.

Sweden experienced a relatively flat trend pattern with regard to volume of exports of titanium sponge, powders, ingots and slabs. At the same time, Finland (+22.0%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +22.0% from 2012-2022. From 2012 to 2022, the share of Finland increased by +7.9 percentage points.

In value terms, Sweden ($X) remains the largest titanium supplier in Scandinavia, comprising 93% of total exports. The second position in the ranking was taken by Finland ($X), with a 7.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden amounted to -4.2%.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, which is down by -12.5% against the previous year. Over the period under review, the export price saw a abrupt decrease. The growth pace was the most rapid in 2018 when the export price increased by 18% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Finland totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (-4.9%).

Titanium Imports

Imports in Scandinavia

In 2022, imports of titanium sponge, powders, ingots and slabs in Scandinavia shrank sharply to X tons, declining by -28.2% on the year before. In general, imports, however, continue to indicate a slight expansion. The pace of growth appeared the most rapid in 2021 with an increase of 76% against the previous year. As a result, imports reached the peak of X tons, and then fell remarkably in the following year.

In value terms, titanium imports dropped markedly to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 29% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Sweden (X tons) was the main importer of titanium sponge, powders, ingots and slabs, mixing up 71% of total imports. It was distantly followed by Norway (X tons), committing a 29% share of total imports.

Sweden was also the fastest-growing in terms of the titanium sponge, powders, ingots and slabs imports, with a CAGR of +3.0% from 2012 to 2022. Norway (-2.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden increased by +13 percentage points.

In value terms, Sweden ($X) constitutes the largest market for imported titanium sponge, powders, ingots and slabs in Scandinavia, comprising 66% of total imports. The second position in the ranking was held by Norway ($X), with a 22% share of total imports.

In Sweden, titanium imports decreased by an average annual rate of -1.4% over the period from 2012-2022.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, increasing by 18% against the previous year. Over the period under review, the import price, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2018 when the import price increased by 60% against the previous year. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while Norway totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+0.4%).

Source: IndexBox Platform