Thintri, Inc. has announced a new market study that analyzes markets for metallic titanium. The report predicts expansion of titanium markets into new applications with corresponding growth in overall market volume.
The Titanium Age: Markets, Opportunities and New Processes
(MOUNT KISCO, N.Y.) — NEWS: Thintri, Inc. (www.thintri.com) has announced a new market study that analyzes markets for metallic titanium. The report predicts expansion of titanium markets into new applications with corresponding growth in overall market volume.
According to the report, “The Titanium Age: Markets, Opportunities and New Processes,” an update of Thintri’s earlier 2016 study, the industry has gone a long way to resolve the price and supply instabilities of the past. Those instabilities acted to prevent the expansion of titanium into new, promising markets. The automotive sector, for example, is one where titanium could bring about significant performance and efficiency increases, but high prices and frequent fluctuations in price and supply presented too much uncertainty to allow for adoption in many large industrial markets.
Titanium is an abundant resource, with 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, making it useful in medicine, as in hip and other joint replacements, and surgical instruments. Titanium is a critical material in aerospace and has become well established in trucks and heavy vehicles, marine structures and ships, chemical processing and general industry. A significant share of the available titanium supply today is used to form steel alloys.
Titanium has enormous potential in a large number of markets, many of them new, but market growth has been hobbled by high costs, volatile prices, processing difficulties, supply issues and industry-wide inefficiencies. Much of the constricting of supply has been attributable to cycles in aerospace demand as well as titanium’s use in steel production, both of which are huge sources of titanium demand which are also subject to general economic conditions.
These cycles have often 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 applications and the instability made it impossible to cultivate new markets.
Today, after several years of sluggish demand for many commodities, titanium is rebounding. As the aerospace sector has worked through its stockpiled titanium, demand has returned to reasonably healthy levels as capacity for most products has levelled off. More importantly, industry consolidation has led to greatly improved efficiency in manufacturing, which promises to restore some stability in price and supply. As a result, emerging markets, particularly medical, in many cases are now even outpacing traditional markets.
At the same time, this apparent stability is threatened by the new international trade picture. Russia and China, both important sources of titanium, are also potential subjects of tariffs and/or sanctions that could upend the global titanium industry. How, and whether, these issues are worked out will have a significant impact on titanium markets.
Throughout all this, a number of low cost processing and manufacturing technologies have continued development that promise to produce 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, and help the industry maintain more stable supplies.
The promise of supply stability and lower prices can be expected to lead to the capture of new markets, bringing titanium to a broad range of new applications. Low cost production processes may also provide a substantial investment opportunity.
Thintri’s report, “The Titanium Age: Markets, Opportunities and New Processes” analyzes current markets for titanium and the present industry landscape, and projects market activity through 2024. Latent demand, i.e., demand that will be created by newer forms of low-cost titanium in established and new applications, is also calculated and projected through 2024. More information can be found at www.thintri.com/.
About Thintri, Inc.:
Founded in 1996, Thintri, Inc. (www.thintri.com), is a full-service consulting firm, based in New York and directed by J. Scott Moore, Ph.D. Thintri’s services include business intelligence, market research, technology transfer and technology assessment, and in-depth, off-the-shelf market studies on promising emerging technologies.
Topics of focus have included communications, aerospace, medical and industrial imaging, photonics, materials and coatings, semiconductor devices, manufacturing, industrial logistics, security, thermal management, energy, and a host of others.
For more information, visit www.thintri.com or call Dr. Moore at 914-242-4615.
Related link: www.thintri.com/
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