Global Titanium Market 2024

Titanium Market Size

The global titanium market rose to $X in 2022, with an increase of 3.4% against the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2019 when the market value increased by 5.9%. Over the period under review, the global market hit record highs in 2022 and is likely to see steady growth in the near future.

Titanium Production

In value terms, titanium production expanded modestly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 8.1%. As a result, production attained the peak level of $X. From 2021 to 2022, global production growth failed to regain momentum.

Titanium Exports

Exports

Global titanium exports stood at X tons in 2022, flattening at the previous year. In general, exports, however, recorded a pronounced setback. The pace of growth was the most pronounced in 2021 with an increase of 16% against the previous year. Over the period under review, the global exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, titanium exports expanded markedly to $X in 2022. Over the period under review, exports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 23%. Over the period under review, the global exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Japan represented the main exporter of titanium sponge, powders, ingots and slabs in the world, with the volume of exports resulting at X tons, which was approx. 45% of total exports in 2022. It was distantly followed by Kazakhstan (X tons), Russia (X tons), the United States (X tons) and Saudi Arabia (X tons), together constituting a 40% share of total exports. China (X tons) and Germany (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to titanium exports from Japan stood at +1.1%. At the same time, Saudi Arabia (+69.6%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the world, with a CAGR of +69.6% from 2012-2022. The United States experienced a relatively flat trend pattern. By contrast, Germany (-2.2%), Kazakhstan (-3.7%), Russia (-4.3%) and China (-4.8%) illustrated a downward trend over the same period. Japan (+14 p.p.) and Saudi Arabia (+6.3 p.p.) significantly strengthened its position in terms of the global exports, while Kazakhstan saw its share reduced by -2.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest titanium supplier worldwide, comprising 39% of global exports. The second position in the ranking was held by Kazakhstan ($X), with an 18% share of global exports. It was followed by the United States, with a 10% share.

In Japan, titanium exports contracted by an average annual rate of -1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kazakhstan (-3.2% per year) and the United States (+0.5% per year).

Export Prices by Country

The average titanium export price stood at $X per ton in 2022, rising by 4.4% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 5.9%. The global export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while Saudi Arabia ($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 (+7.1%), while the other global leaders experienced more modest paces of growth.

Titanium Imports

Imports

In 2022, approx. X tons of titanium sponge, powders, ingots and slabs were imported worldwide; jumping by 27% compared with the year before. Overall, imports, however, showed a perceptible contraction. Global imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, titanium imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a noticeable decline. Over the period under review, global imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United States represented the key importer of titanium sponge, powders, ingots and slabs in the world, with the volume of imports resulting at X tons, which was approx. 35% of total imports in 2022. It was distantly followed by China (X tons), the UK (X tons), South Korea (X tons), France (X tons) and Italy (X tons), together generating a 44% share of total imports. The following importers - Germany (X tons), Russia (X tons) and the Czech Republic (X tons) - together made up 10% of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of titanium sponge, powders, ingots and slabs. At the same time, the Czech Republic (+56.3%), China (+52.7%) and Italy (+8.4%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing importer imported in the world, with a CAGR of +56.3% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, South Korea (-4.2%), Germany (-6.3%), the UK (-6.3%) and Russia (-6.5%) illustrated a downward trend over the same period. While the share of China (+15 p.p.), the United States (+7.9 p.p.), Italy (+3.3 p.p.), France (+1.8 p.p.) and the Czech Republic (+1.8 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Russia (-1.5 p.p.) and the UK (-3.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported titanium sponge, powders, ingots and slabs worldwide, comprising 34% of global imports. The second position in the ranking was taken by China ($X), with a 13% share of global imports. It was followed by the UK, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at -2.8%. The remaining importing countries recorded the following average annual rates of imports growth: China (+35.0% per year) and the UK (-8.1% per year).

Import Prices by Country

In 2022, the average titanium import price amounted to $X per ton, surging by 2.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 15%. Over the period under review, average import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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