Titanium Alloy Market Analysis and the Current Development Status in China
- Written by: admin
- Category: Uncategorized
- Published: January 28, 2023
The total titanium alloy market is increasing. Along with the steady and rapid development of China’s economy, the continuous improvement of people’s living standard, as well as the continuous development of the technology, the demand for it in the civil field is increasing day by day. This kind of materials are made into pipe, wire, rod, plate 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 clubs has consumed more than 1,000 tons of titanium.
According to the latest statistics, there is a big gap between the material products and the civil market in China. According to the internationally accepted titanium production, which should be one ten-thousandth of the steel output. It is clear that China’s titanium production has not yet reached that level. The civil market demand of the material is increasing day by day, which will certainly promote the expansion of titanium market.
In addition to civil use, titanium is mainly used in aerospace, and aviation application accounts 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 the materials consumed by commercial aviation in the world is about 42%, and the proportion of the materials consumed by military is about 7%. In addition, the industrial consumption of the material is about 47%.The world’s airlines will need 23, 385 new planes with more than 100 seats over the next 20 years, according to the research institute.These will be worth $2.6 trillion. With the increase of the number of civil aircraft and the gradual development of aviation industry, the titanium alloy market has a good prospect.
China’s titanium industry has developed rapidly. Nowadays, China has become a large country in the material production. According to incomplete statistics from prospective industry research institute, there are more than 300 enterprises producing titanium alloy in China, and the overall output of its products shows a trend of increasing year by year. In 2012, the production of titanium sponge was about 71,000 tons, the output of titanium ingot was about 74,000 tons, the production of titanium powder was about 101,000 tons and titanium processing materials was around of 61,000 tons.
By occupying nearly 30% of the world’s titanium reserves, China has a significant advantage in developing the titanium industry’s mineral resources. Although China now accounts for one-third of the world’s production capacity and output of titanium sponge, it needs to be improved in the field of high value-added and deep processing. Facing with this situation, how to develop the titanium industry in China has become an important topic. Bango Alloy (www.bangoalloy.com) holds the view that the development trend of titanium industry in China is to bound to be intensive, scientific and high value-added.The titanium industry is facing industrial adjustment and upgrading.