United Kingdom: Titanium Market 2024

Titanium Market Size in the UK

In 2022, the UK titanium market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, saw a slight curtailment. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Titanium Production in the UK

In value terms, titanium production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.4% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 30% against the previous year. Titanium production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Titanium Exports

Exports from the UK

In 2022, after three years of decline, there was significant growth in overseas shipments of titanium sponge, powders, ingots and slabs, when their volume increased by 115% to X tons. Overall, exports continue to indicate a slight increase. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, titanium exports soared to $X in 2022. In general, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 143% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

France (X tons) was the main destination for titanium exports from the UK, accounting for a 57% share of total exports. Moreover, titanium exports to France exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. The third position in this ranking was taken by Italy (X tons), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume to France amounted to +18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+8.7% per year) and Italy (-0.3% per year).

In value terms, France ($X) emerged as the key foreign market for titanium sponge, powders, ingots and slabs exports from the UK, comprising 46% of total exports. The second position in the ranking was held by Italy ($X), with a 7.7% share of total exports. It was followed by the United States, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value to France stood at +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+6.2% per year) and the United States (+2.1% per year).

Export Prices by Country

The average titanium export price stood at $X per ton in 2022, with a decrease of -10.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. The growth pace was the most rapid in 2021 when the average export price increased by 32% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to the Netherlands ($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 United Arab Emirates (+29.1%), while the prices for the other major destinations experienced more modest paces of growth.

Titanium Imports

Imports into the UK

After three years of decline, purchases abroad of titanium sponge, powders, ingots and slabs increased by 68% to X tons in 2022. In general, imports, however, saw a abrupt decline. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, titanium imports soared to $X in 2022. Overall, imports, however, showed a deep downturn. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons), the United States (X tons) and France (X tons) were the main suppliers of titanium imports to the UK, together accounting for 86% of total imports. Saudi Arabia, Russia, Kazakhstan and Germany lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +67.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), the United States ($X) and Russia ($X) were the largest titanium suppliers to the UK, together accounting for 88% of total imports. These countries were followed by Kazakhstan, Saudi Arabia, France and Germany, which together accounted for a further 6.9%.

Saudi Arabia, with a CAGR of +137.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average titanium import price amounted to $X per ton, surging by 4.3% against the previous year. Overall, the import price, however, saw a mild decline. The pace of growth appeared the most rapid in 2017 when the average import price increased by 8.1%. Over the period under review, average import prices reached the peak figure 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 Russia ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+41.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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