Titanium Alloy Market Analysis and Current Development Status in China:
1. The application field of titanium alloy expanded
The total market for titanium alloys is increasing. Along with the steady and rapid development of China’s economy, the continuous improvement of people’s living standards, as well as the continuous development of technology, the demand in the civil field is increasing day by day. These types of materials are manufactured into pipes, wires, rods, plates and other products. Titanium products are widely favored in the market. It has been widely used in construction, medical, sports and electronic products, as well as consumer goods and consumables. According to market statistics, the production of golf heads and golf clubs has consumed more than 1,000 tons of titanium.
2. Demand for civilian titanium alloy is strong
According to the latest statistics, there is a huge gap between material products and the civilian market in China. According to the internationally accepted production of titanium, which should be one ten thousandth of the production of steel. It is clear that China’s titanium production has not yet reached that level. The demand for the material in the civilian market is increasing day by day, which will undoubtedly promote the expansion of the titanium market.
3. The development of the aviation industry promotes the increase in demand for titanium alloys.
In addition to civil use, titanium is mainly used in the aerospace industry, with aviation application accounting for half of the application of titanium materials. From a global perspective, titanium products are mainly consumed in the aviation industry and the industrial sector. The proportion of materials consumed by commercial aviation in the world is approximately 42%, and the proportion of materials consumed by military aviation is approximately 7%. In addition, the industrial consumption of the material is around 47%. The world’s airlines will need 23,385 new planes with more than 100 seats in the next 20 years, according to the research institute. These will be worth $2.6 trillion. With the increase in the number of civil aircraft and the gradual development of the aviation industry, the titanium alloy market has good prospects.
The current state of development of titanium alloy in China.
China’s titanium industry has developed rapidly. Nowadays, China has become a big country in the production of materials. According to incomplete statistics from the prospective industry research institute, there are more than 300 enterprises producing titanium alloy in China, and the overall output of their products shows an increasing trend year by year. In 2012, the output of sponge titanium was about 71,000 tons, the output of titanium ingots was about 74,000 tons, the output of titanium powder was about 101,000 tons, and the titanium processing materials were about 61,000 tons.
Occupying almost 30% of the world’s titanium reserves, China has a significant advantage in developing the mineral resources of the titanium industry. Although China now accounts for one-third of the world’s production capacity, and the production of sponge titanium, it needs to be improved in the field of high-value-added and deep processing. Faced with this situation, how to develop the titanium industry in China has become an important issue. Bango Alloy (www.bangoalloy.com) maintains that the development trend of China’s titanium industry is bound to be intensive, scientific and high value-added.