Latin America and the Caribbean: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in Latin America and the Caribbean

The Latin American titanium ore and concentrate market surged to $X in 2023, rising by X% against the previous year. In general, consumption continues to indicate a mild contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Production of Titanium Ores and Concentrates in Latin America and the Caribbean

In value terms, titanium ore and concentrate production skyrocketed to $X in 2023 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

Exports of Titanium Ores and Concentrates

Exports in Latin America and the Caribbean

After two years of decline, overseas shipments of titanium ores and concentrates increased by X% to X tons in 2023. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, titanium ore and concentrate exports surged to $X in 2023. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Brazil (X tons) represented the key exporter of titanium ores and concentrates in Latin America and the Caribbean, constituting X% of total export.

Brazil was also the fastest-growing in terms of the titanium ores and concentrates exports, with a CAGR of X% from 2012 to 2023. Brazil (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) also remains the largest titanium ore and concentrate supplier in Latin America and the Caribbean.

From 2012 to 2023, the average annual rate of growth in terms of value in Brazil stood at X%.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, saw a mild descent. The level of export peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Brazil.

From 2012 to 2023, the rate of growth in terms of prices for Brazil amounted to X% per year.

Imports of Titanium Ores and Concentrates

Imports in Latin America and the Caribbean

In 2023, approx. X tons of titanium ores and concentrates were imported in Latin America and the Caribbean; which is down by X% compared with the previous year's figure. Overall, imports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, titanium ore and concentrate imports contracted rapidly to $X in 2023. Over the period under review, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Brazil was the main importer of titanium ores and concentrates in Latin America and the Caribbean, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2023. Mexico (X tons) took the second position in the ranking, distantly followed by Guyana (X tons). All these countries together held near X% share of total imports. The following importers - Colombia (X tons) and Argentina (X tons) - each amounted to a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Guyana (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Brazil ($X) constitutes the largest market for imported titanium ores and concentrates in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Mexico ($X), with a X% share of total imports. It was followed by Guyana, with a X% share.

In Brazil, titanium ore and concentrate imports contracted by an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Guyana (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, increasing by X% against the previous year. Import price indicated perceptible growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, titanium ore and concentrate import price increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Argentina ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform