Titanium industry races ahead in Asia

Posted in Industry News on 18th October 2011

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William Rowland - Titanium Suppliers

Industrial demand for titanium is now getting back on track after the 2008 dip. Industrial applications are estimated to account for 25% of the global market of 95,000 tonnes of titanium mill products in 2011. It has been forecasted that the Chinese titanium market will reach 150,000 tonnes for sponge for mill products by 2015, according to Baoji Titanium. Therefore the timeframe of the next 4 years is an important period for the industry, focusing on integration, developmental strategy and upgrades.

Of last years estimated 95,000 tonnes of output of mill products, a huge 38,000 tonnes came from China alone, a trend reflecting the predicted growth of consuming industries in Asia and the Middle East. China's lunar exploration program and it's growing nuclear industry will drive the domestic titanium manufacture and development of the currently imported mil products, such as welded pipe.

William Rowland - Titanium Suppliers

China has increasingly integrated itself into the global titanium industry as both an exporter and importer of titanium. Chinese imports of titanium mil products grew by 57% just last year mainly dominated by welded tubes and small diameter pipes. Exports of Chinese sponge, barely conceivable a year ago reached 3,500 tonnes last year.

The Chinese market is led by the chemical industry which accounts for 60% of their total demand, as oppose to the western market which is dominated by the aerospace industry. The Nuclear industry has been impacted due to the Fukushima disaster in Japan, with Germany deciding to close its nine remaining reactors by 2022, whilst the US and UK haven't voiced commitment either way as of yet.

With China and Asia's ageing population now standing at 5 million people there is a possibility of titanium hip replacements becoming an emerging market. According to the British Medical Journal there are currently 4,000 - 5,000 hip replacements a year being performed in the US proving significant possibility.

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Source; Metals News

Tags: Metal Powders News, Titanium News