Titanium is one of the most interesting elements in the world of chemistry today. It has the atomic symbol Ti and the atomic number 22. Since the 1950s, this element has been used extensively in many industrial applications. It is known for its high strength, low density and weight, as well as for its high anti-corrosion properties. Today, titanium products are quite common in the market. Because the demand for this element is high, those who purchase titanium are quite confident that there will always be enough supply in the market.
1. Growing Demand For Titanium
Companies who purchase titanium saw an increse in the worldwide demand for this material within the last four years. This growth is attributed by industry analysts to the growth of the aerospace industry, which consumes a huge portion of the global titanium supply. Titanium is used for many of the components in the aerospace industry and as the demand for higher fuel-efficient aircraft continues, so will the demand for titanium grow.
Titanium buyers for the aerospace market do so because of titanium's high thermal exapansion rate, as compared with other composite materials. A good example is the new Boeing 787 Dreamliner which uses 15% titanium by weight. Many of the composite components used in this aircraft are titanium-based because of titanium’s compatibility with other materials.
The consumer market also purchase titanium for various purposes. More than 21,000 tons of titanium were used up by the consumer market in 2009. Most of the applications where titanium was widely used are in the metallurgical plants, sporting goods, chemical and pharmaceutical processing.
Titanium comsumption for industrial uses compose about 30-50% of the total demand in the market. Titanium is often used for nuclear power generation plants where it is used in generators and condensers. It is also used as a material for desalination plants and for the petrochemical industry.
2. Demand for Titanium Dioxide Remains High
One of the most titanium-based products that gets a huge demand is titanium dioxide. Those who purchase titanium dioxide use it for applications such as coating, printing ink, medicine and other chemicals. In 2012, the production of titanium dioxide reached 6.3 million tons, with the demand for this material growing at a rate of 2.6% annually. China has become a huge titanium dioxide producing country, with several companies cooperating together to become one big titanium production group. Currently, China's titanium dioxide production capacity is more than 2 million tons annually.
In 2012, the demand for titanium dioxide reached 1.82 million tons in China alone. Of this number, the coating industry was the highest sector to purchase titanium dioxide, reaching to about 62.5%, while the plastic industry followed at 18.5%. The remaining 19.1% who invest titanium in 2012 were industries in papermaking and printing ink.
The titanium market will continue to grow, with about a 40% increase in demand by 2015, according to industrial analysts. Since it is a global commodity that is in high demand, the price fluctuates regularly. If you buy titanium, you have to monitor the market price in order to understand the supply and demand mechanics of titanium.
By Stanford Materials http://stanfordmaterials.com
Stanford Materials Corporation is a worldwide supplier of various oxides, metals, alloys, advanced ceramic materials, and minerals. It was established in 1994 to supply high quality rare earth products to our customers in the research and development fields. To meet increasing demands for rare earth products and other materials, Stanford Materials now carries a variety of materials to serve not only our customers in research and development but also manufacturers in the ceramic, metallurgy and electronic industries. Stanford Materials carries both technical grade materials for industries as well as high purity chemicals (up to 99.99999%) for research institutes.