MERCOSUR: Market for Titanium Ores and Concentrates 2024

Market Size for Titanium Ores and Concentrates in MERCOSUR

For the third consecutive year, the MERCOSUR titanium ore and concentrate market recorded growth in sales value, which increased by X% to $X in 2023. Over the period under review, consumption, however, posted a modest expansion. Over the period under review, the market reached the maximum level in 2023 and is likely to continue growth in years to come.

Production of Titanium Ores and Concentrates in MERCOSUR

In value terms, titanium ore and concentrate production skyrocketed to $X in 2023 estimated in export price. The total production indicated a mild expansion from 2012 to 2023: its value 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. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

Exports of Titanium Ores and Concentrates

Exports in MERCOSUR

In 2023, overseas shipments of titanium ores and concentrates increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Over the period under review, exports showed slight growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, titanium ore and concentrate exports surged to $X in 2023. Overall, exports recorded moderate growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Brazil (X tons), together reaching 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. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

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

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2023, growing by X% against the previous year. Export price indicated modest 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. The level of export peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

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 MERCOSUR

In 2023, after two years of growth, there was significant decline in supplies from abroad of titanium ores and concentrates, when their volume decreased by X% to X tons. Overall, imports faced a drastic downturn. The pace of growth was the most pronounced in 2022 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, titanium ore and concentrate imports contracted markedly to $X in 2023. Over the period under review, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Brazil (X tons) represented the main importer of titanium ores and concentrates, achieving X% of total imports. It was distantly followed by Guyana (X tons), generating a X% share of total imports. The following importers - Colombia (X tons) and Argentina (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to titanium ore and concentrate imports into Brazil stood at X%. At the same time, Guyana (X%) displayed positive paces of growth. Moreover, Guyana emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of X% from 2012-2023. By contrast, Colombia (X%) and Argentina (X%) illustrated a downward trend over the same period. While the share of Guyana (X p.p.) and Colombia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Brazil, titanium ore and concentrate imports declined 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: Guyana (X% per year) and Colombia (X% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2023, picking up by X% against the previous year. Import price indicated strong 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 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, import prices attained the maximum in 2023 and is likely to continue growth in the near future.

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 ($X per ton), while Brazil ($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