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Market Research Report
Product code
365850
The Titanium Age: Markets, Opportunities, and New Technologies, 2019 |
The Titanium Age: Markets, Opportunities, and New Technologies, 2019 |
Published: October 29, 2019
Thintri, Inc.
Content info: 170 Pages
Delivery time: 1-2 business days
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Thintri, Inc. announces the release of a new market study, The Titanium Age: Markets, Opportunities and New Technologies. This report, the fourth version of Thintri's initial titanium study analyzes current markets in titanium, pricing and supply issues in a range of titanium products like scrap, sponge, ingot, plate, etc., and effects of current economic, supply and demand conditions. The report also discusses emerging market opportunities through the maturing of technologies that promise to reduce the cost of titanium extraction, manufacturing, machining and welding. Forecasts are provided for both traditional and potential new titanium markets in a number of key sectors.
Titanium, an abundant resource with enormous potential in a large number of markets, has been hobbled by high costs, unstable volatile prices, processing difficulties, supply issues and industry-wide inefficiencies.
Titanium has the highest strength-to-density ratio of any metal, is essentially nonmagnetic, and is highly resistant to corrosion, even in hostile environments like salt water. Furthermore, it is highly biocompatible. Titanium has become well established in aerospace, trucks and heavy vehicles, medicine, chemical processing and general industry.
In recent years titanium suppliers have worked hard to bring the benefits of titanium to new applications, but just as new markets for titanium have opened up, the supply of titanium has fluctuated considerably, with notable effects on prices. Much of the constricting of supply was attributable to sharply rising aerospace demand as well as greater use in steel production, which reduced the supply of available scrap. These factors have led, in the past, led to extraordinary runups in prices, where some more than doubled in a single year, and some users were simply unable to obtain the titanium they needed. The volatility dampened enthusiasm for titanium in new markets where it could offer substantial long term cost savings and the instability often made it impossible to cultivate new markets.
In the last decade, suppliers of titanium sponge and other products rapidly expanded their output, only to see demand and prices drop with the recession. Today, after several years of sluggish demand for many commodities, titanium is rebounding and as the aerospace sector has worked through its stockpiled titanium, demand has been restored to reasonably healthy levels as capacity for most products has levelled off. Emerging markets, particularly medical, are even outpacing traditional markets.
Throughout all this, a number of low cost processing and manufacturing technologies have continued development that promise titanium (commercially pure and alloyed), potentially at greatly reduced cost. These processes, some of which are already commercialized, will significantly reduce costs in extraction, machining, welding and manufacture of titanium, while relieving supply issues that have plagued users in the past.
The promise of supply stability and lower prices can be expected to create an opening whereby new markets can be captured, bringing titanium to a broad range of new applications. Low cost production processes could provide a substantial investment opportunity.
Thintri's new market study analyzes the current state of traditional titanium markets and current economic conditions. The effects of emerging low cost titanium processes and the market forces that will determine the future of the industry are investigated in detail. New and sometimes unexpected market opportunities are analyzed and forecasts are provided for both traditional markets, some of them unaffected by low cost processes, and new market opportunities created by low cost titanium.
The report is based on more than 100 in-depth interviews with experts from industry, Government and academia, as well as a broad range of published materials.