Turkey: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in Turkey

The Turkish titanium ore and concentrate market skyrocketed to $X in 2022, growing by 33% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption posted a remarkable increase. Titanium ore and concentrate consumption peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Titanium Ores and Concentrates

Exports from Turkey

In 2022, exports of titanium ores and concentrates from Turkey soared to X tons, increasing by 279% on the previous year. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 959,126% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, titanium ore and concentrate exports soared to $X in 2022. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 727,759%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Russia (X tons) was the main destination for titanium ore and concentrate exports from Turkey, with a 75% share of total exports. Moreover, titanium ore and concentrate exports to Russia exceeded the volume sent to the second major destination, Egypt (X tons), fourfold. The third position in this ranking was taken by Lithuania (X tons), with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume to Russia stood at +3,544.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+22.8% per year) and Lithuania (0.0% per year).

In value terms, Russia ($X) emerged as the key foreign market for titanium ores and concentrates exports from Turkey, comprising 76% of total exports. The second position in the ranking was taken by Egypt ($X), with a 17% share of total exports. It was followed by Lithuania, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia totaled +5,974.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+24.9% per year) and Lithuania (0.0% per year).

Export Prices by Country

The average titanium ore and concentrate export price stood at $X per ton in 2022, surging by 80% against the previous year. Overall, the export price saw a notable expansion. The most prominent rate of growth was recorded in 2014 an increase of 123%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Morocco ($X per ton) and Lithuania ($X per ton), while the average price for exports to Egypt ($X per ton) and Russia ($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 Russia (+66.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Titanium Ores and Concentrates

Imports into Turkey

In 2022, approx. X tons of titanium ores and concentrates were imported into Turkey; growing by 23% against 2021. In general, imports recorded a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 303%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, titanium ore and concentrate imports surged to $X in 2022. Overall, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 82%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Egypt (X tons) constituted the largest supplier of titanium ore and concentrate to Turkey, with a 88% share of total imports. Moreover, titanium ore and concentrate imports from Egypt exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), more than tenfold. The third position in this ranking was held by South Africa (X tons), with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Egypt amounted to +22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+0.1% per year) and South Africa (+16.0% per year).

In value terms, the largest titanium ore and concentrate suppliers to Turkey were Egypt ($X), Ukraine ($X) and South Africa ($X), with a combined 89% share of total imports.

In terms of the main suppliers, Egypt, with a CAGR of +28.6%, recorded the highest growth rate of 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

In 2022, the average titanium ore and concentrate import price amounted to $X per ton, picking up by 30% against the previous year. In general, the import price, however, recorded a deep contraction. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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