Ferro-Titanium and Ferro-Silico-Titanium Market

The article discusses the increasing demand for ferro-titanium and ferro-silico-titanium worldwide, projecting steady growth in market volume and value over the next eight years. Russia, the UK, and the United States are leading in consumption and production, with noticeable fluctuations in trend patterns. Import and export prices have seen significant growth, with countries like the Netherlands, Germany, and Japan emerging as key players in the global market.

Market Forecast

Driven by increasing demand for ferro-titanium and ferro-silico-titanium worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 105K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market value to $532M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Ferro-Titanium and Ferro-Silico-Titanium

In 2022, global consumption of ferro-titanium and ferro-silico-titanium reached 92K tons, approximately reflecting the previous year. The total consumption volume increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak volume of 93K tons. From 2017 to 2022, the growth of the global consumption remained at a lower figure.

The global ferro-titanium and ferro-silico-titanium market revenue rose rapidly to $439M in 2022, surging by 6.9% 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). Over the period under review, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +46.9% against 2020 indices. Global consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Russia (15K tons), the UK (13K tons) and the United States (11K tons), with a combined 42% share of global consumption. Japan, Germany, Brazil, Italy, the Netherlands, Ukraine, Canada, South Korea, India and Turkey lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +13.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest ferro-titanium and ferro-silico-titanium markets worldwide were the UK ($57M), Russia ($49M) and the United States ($46M), with a combined 35% share of the global market. Japan, Germany, Brazil, Italy, the Netherlands, South Korea, Turkey, Canada, Ukraine and India lagged somewhat behind, together comprising a further 41%.

Brazil, with a CAGR of +14.5%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of ferro-titanium and ferro-silico-titanium per capita consumption in 2022 were the UK (195 kg per 1000 persons), the Netherlands (190 kg per 1000 persons) and Russia (104 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Brazil (with a CAGR of +13.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Ferro-Titanium and Ferro-Silico-Titanium

In 2022, the amount of ferro-titanium and ferro-silico-titanium produced worldwide was estimated at 92K tons, increasing by 4.7% compared with 2021 figures. The total output volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by 14% against the previous year. Global production peaked in 2022 and is expected to retain growth in years to come.

In value terms, ferro-titanium and ferro-silico-titanium production fell dramatically to $306M in 2022 estimated in export price. In general, production, however, continues to indicate a slight slump. The growth pace was the most rapid in 2021 when the production volume increased by 43%. Global production peaked at $366M in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were Russia (30K tons), the UK (24K tons) and the United States (8.6K tons), together comprising 68% of global production. Ukraine, Estonia, China, India, the Netherlands and Canada lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +21.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Ferro-Titanium and Ferro-Silico-Titanium

In 2022, global ferro-titanium and ferro-silico-titanium imports dropped to 70K tons, with a decrease of -13.8% compared with 2021 figures. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 36%. Over the period under review, global imports reached the maximum at 83K tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, ferro-titanium and ferro-silico-titanium imports surged to $432M in 2022. Overall, imports, however, continue to indicate noticeable growth. The pace of growth appeared the most rapid in 2021 with an increase of 95% against the previous year. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports By Country

In 2022, the Netherlands (13K tons), Germany (8.6K tons) and Japan (6.2K tons) was the largest importer of ferro-titanium and ferro-silico-titanium in the world, mixing up 39% of total import. Brazil (4K tons) held a 5.8% share (based on physical terms) of total imports, which put it in second place, followed by the United States (5.6%) and Italy (5.2%). The following importers - France (2.9K tons), Poland (2.8K tons), South Korea (2.5K tons), Sweden (2.3K tons), Turkey (2.3K tons), Spain (2K tons) and Belgium (1.8K tons) - together made up 24% of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +25.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest ferro-titanium and ferro-silico-titanium importing markets worldwide were the Netherlands ($61M), Germany ($57M) and Japan ($51M), together accounting for 39% of global imports. France, Brazil, Italy, the United States, South Korea, Sweden, Poland, Belgium, Spain and Turkey lagged somewhat behind, together comprising a further 42%.

Poland, with a CAGR of +24.8%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average ferro-titanium and ferro-silico-titanium import price stood at $6,221 per ton in 2022, rising by 36% against the previous year. Over the period under review, the import price posted a slight increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 56% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($8,316 per ton), while the Netherlands ($4,822 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Ferro-Titanium and Ferro-Silico-Titanium

In 2022, approx. 70K tons of ferro-titanium and ferro-silico-titanium were exported worldwide; with a decrease of -9.8% compared with the year before. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 52% against the previous year. The global exports peaked at 77K tons in 2021, and then declined in the following year.

In value terms, ferro-titanium and ferro-silico-titanium exports skyrocketed to $427M in 2022. Over the period under review, exports, however, posted a noticeable expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 101%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

Russia (15K tons), the Netherlands (13K tons) and the UK (11K tons) represented roughly 56% of total exports in 2022. Estonia (5.2K tons) held a 7.4% share (based on physical terms) of total exports, which put it in second place, followed by Germany (5.2%). Ukraine (2.8K tons), Poland (2.5K tons), China (2.4K tons), the United States (1.9K tons), India (1.9K tons), Spain (1.8K tons), Canada (1.6K tons) and Latvia (1.5K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Poland (with a CAGR of +64.1%), while the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($93M), the UK ($81M) and Russia ($77M) appeared to be the countries with the highest levels of exports in 2022, with a combined 59% share of global exports. Estonia, Germany, Poland, Spain, Ukraine, China, India, the United States, Latvia and Canada lagged somewhat behind, together comprising a further 35%.

Poland, with a CAGR of +66.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average ferro-titanium and ferro-silico-titanium export price amounted to $6,142 per ton, surging by 32% against the previous year. Over the period under review, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-titanium and ferro-silico-titanium export price increased by +102.6% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 53%. The global export price peaked in 2022 and is expected to retain growth in years to come.

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 Spain ($7,729 per ton), while Ukraine ($4,749 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+11.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform