The supply of titanium has been a very intriguing aspect for many years. Whilst not a publicly trade commodity many have gambled on the rise and fall of prices in determining their livelihoods. But what goes into such gambles if there is no empirical data that is available to support an investment. To understand to potential then it is also important to understand the reasons why titanium is not a commodity, which is driven by the large amount of alloying that the sponge goes into and also the relatively small market state. Sponge is the raw material that goes on to produce an alloy it is not the pure form of titanium. As such the direct alloy production is the key factor.
So how would one go about understand the trends in its use and potential for growth. There is two aspects: the first is trends in industries that use titanium e.g. aerospace and the second dimension is the growth into industry e.g. steel fabricators using it as an alternative material. To focus on aerospace first we are the start of an revolution in air transport. All major airlines are in the process of replacing ageing fleet and replacing them with aircraft with a large amount of titanium parts. So what will this result in ? An increase in titanium production and demand ? The second aspect which is even more difficult to predict is the growth of titanium into other industries. Again we are at the center of an industrial revolution of sorts with the advancement and maturing of powder metallurgy and it would stand to reason that titanium with its high strength and low density would play an significant role in its growth. Finally and perhaps the most significant dimension is the overall cost of titanium. The shortening supply chains brought about due to the enhancement in communication and connectivity have removed intermediaries and prices have fallen. The final area is the advancement of how titanium is produced. At the moment this is through the very expensive Kroll Process however newer, cheaper and quicker approaches have been identified that are starting to see traction..
To summarise, predicting the future of titanium is being an ever more important area in which much can be won and lost. However it is also an increasingly difficult area to understand as the pervasiveness of materials in a changing world is almost impossible to quanitify. We are excited about the future and banking on the future being very bright for titanium. For all your titanium needs contact us now for more information.