Thailand: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in Thailand

After five years of growth, the Thai titanium ore and concentrate market decreased by -21.8% to $X in 2022. Over the period under review, consumption, however, showed a buoyant expansion. As a result, consumption attained the peak level of $X, and then fell dramatically in the following year.

Production of Titanium Ores and Concentrates in Thailand

In value terms, titanium ore and concentrate production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, enjoyed prominent growth. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Titanium Ores and Concentrates

Exports from Thailand

In 2022, exports of titanium ores and concentrates from Thailand contracted significantly to X tons, which is down by -27.8% compared with the year before. Overall, exports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 205% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, titanium ore and concentrate exports dropped dramatically to $X in 2022. In general, exports showed a mild decrease. The pace of growth was the most pronounced in 2015 with an increase of 170%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), India (X tons) and Nigeria (X tons) were the main destinations of titanium ore and concentrate exports from Thailand, with a combined 99% share 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 India (with a CAGR of +63.7%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for titanium ore and concentrate exported from Thailand were India ($X), China ($X) and Nigeria ($X), with a combined 99% share of total exports.

In terms of the main countries of destination, India, with a CAGR of +63.5%, recorded 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 a decrease of -6.9% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% 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 +3.8% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 108%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to South Korea ($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 the Philippines (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Titanium Ores and Concentrates

Imports into Thailand

In 2022, overseas purchases 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. In general, imports, however, continue to indicate a deep downturn. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, titanium ore and concentrate imports skyrocketed to $X in 2022. Overall, imports, however, saw a perceptible decrease. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of titanium ore and concentrate to Thailand, with a 73% share of total imports. Moreover, titanium ore and concentrate imports from Australia exceeded the figures recorded by the second-largest supplier, Kenya (X tons), sevenfold. The third position in this ranking was held by South Africa (X tons), with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume from Australia stood at -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Kenya (+280.4% per year) and South Africa (-15.6% per year).

In value terms, Australia ($X) constituted the largest supplier of titanium ores and concentrates to Thailand, comprising 71% of total imports. The second position in the ranking was held by Kenya ($X), with a 13% share of total imports. It was followed by South Africa, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value from Australia totaled -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Kenya (+324.5% per year) and South Africa (-11.9% per year).

Import Prices by Country

The average titanium ore and concentrate import price stood at $X per ton in 2022, jumping by 17% against the previous year. In general, the import price continues to indicate temperate growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by 21%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Kenya ($X per ton), while the price for China ($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 (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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