Thailand: Titanium Market 2024

Titanium Market Size in Thailand

The Thai titanium market rose to $X in 2022, growing by 1.7% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in years to come.

Titanium Production in Thailand

In value terms, titanium production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 14% against the previous year. Titanium production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Titanium Exports

Exports from Thailand

For the third year in a row, Thailand recorded decline in overseas shipments of titanium sponge, powders, ingots and slabs, which decreased by -99.9% to X kg in 2022. In general, exports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2019 with an increase of 75,025%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, titanium exports declined dramatically to $X in 2022. Overall, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 2,553% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X kg) was the main destination for titanium exports from Thailand, accounting for a 62% share of total exports. Moreover, titanium exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), twofold. Japan (X kg) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +63.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+7.6% per year) and Japan (+30.7% per year).

In value terms, the United States ($X) emerged as the key foreign market for titanium sponge, powders, ingots and slabs exports from Thailand, comprising 52% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 25% share of total exports. It was followed by the Netherlands, with a 17% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +73.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+23.3% per year) and the Netherlands (0.0% per year).

Export Prices by Country

In 2022, the average titanium export price amounted to $X per ton, surging by 6,019% against the previous year. Over the period under review, the export price posted significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Japan ($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 Hong Kong SAR (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Imports

Imports into Thailand

Titanium imports into Thailand dropped dramatically to X tons in 2022, declining by -24.6% on the previous year's figure. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 432% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then dropped dramatically in the following year.

In value terms, titanium imports contracted rapidly to $X in 2022. In general, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 192% against the previous year. Imports peaked at $X in 2021, and then declined significantly in the following year.

Imports by Country

In 2022, Estonia (X tons) constituted the largest supplier of titanium to Thailand, with a 70% share of total imports. Moreover, titanium imports from Estonia exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Estonia amounted to +27.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+23.9% per year) and China (+26.9% per year).

In value terms, Japan ($X), Estonia ($X) and China ($X) constituted the largest titanium suppliers to Thailand, together comprising 95% of total imports.

Among the main suppliers, Estonia, with a CAGR of +22.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average titanium import price stood at $X per ton in 2022, with an increase of 6.7% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt curtailment. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (-4.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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