South Africa: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in South Africa

In 2022, after two years of growth, there was significant decline in the South African titanium ore and concentrate market, when its value decreased by -25.4% to $X. In general, consumption, however, posted a slight expansion. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Titanium Ores and Concentrates in South Africa

In value terms, titanium ore and concentrate production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt decline. The growth pace was the most rapid in 2018 with an increase of 77%. Titanium ore and concentrate production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Titanium Ores and Concentrates

Exports from South Africa

In 2022, overseas shipments of titanium ores and concentrates were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a noticeable downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 102% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, titanium ore and concentrate exports skyrocketed to $X in 2022. In general, exports, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 71% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Belgium (X tons) and Japan (X tons) were the main destinations of titanium ore and concentrate exports from South Africa, together accounting for 69% of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +89.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), Japan ($X) and Belgium ($X) were the largest markets for titanium ore and concentrate exported from South Africa worldwide, together accounting for 73% of total exports.

Among the main countries of destination, Belgium, with a CAGR of +83.9%, saw the highest rates of growth with regard to 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 ore and concentrate export price amounted to $X per ton, with an increase of 40% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, titanium ore and concentrate export price increased by +75.7% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Titanium Ores and Concentrates

Imports into South Africa

Titanium ore and concentrate imports into South Africa contracted significantly to X tons in 2022, declining by -44.6% on 2021. Overall, imports saw a sharp descent. The pace of growth was the most pronounced in 2018 with an increase of 6,311,954% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, titanium ore and concentrate imports dropped significantly to $X in 2022. Over the period under review, imports faced a sharp decrease. The pace of growth appeared the most rapid in 2018 when imports increased by 4,096,735%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Senegal (X tons) constituted the largest titanium ore and concentrate supplier to South Africa, accounting for a 64% share of total imports. Moreover, titanium ore and concentrate imports from Senegal exceeded the figures recorded by the second-largest supplier, Australia (X tons), threefold. Mozambique (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Senegal totaled -40.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-28.7% per year) and Mozambique (-34.3% per year).

In value terms, Senegal ($X) constituted the largest supplier of titanium ores and concentrates to South Africa, comprising 58% of total imports. The second position in the ranking was held by Australia ($X), with an 18% share of total imports. It was followed by Mozambique, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Senegal amounted to -40.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-35.1% per year) and Mozambique (-36.1% per year).

Import Prices by Country

The average titanium ore and concentrate import price stood at $X per ton in 2022, waning by -9.5% against the previous year. Over the period under review, the import price saw a noticeable setback. The most prominent rate of growth was recorded in 2016 an increase of 114%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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 France ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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