Titanium - Revolutionizing Industries

What is Titanium?

Titanium is a structural metal that is light, strong, and corrosion-resistant and is used in several industries, including in chemical processing, construction, aircraft, and vehicles.

Most of it is used by the aviation and defense sector (which accounts for around two-thirds of global demand) due to its high-tensile strength and durability.

Rising defense spending across the globe is expected to be a major driver of market growth. Other major users of titanium are the industrial and medical sectors.

Due to its superior performance as an alternative to carbon fiber and steel, titanium has gained greater commercial acceptance.

The Stages of Titanium Production

Titanium’s end-to-end production process typically involves five steps:?

1.????Mineral extraction

The minerals?ilmenite?and?rutile?are the primary feedstocks for titanium production. These minerals are partly composed of titanium dioxide, which is later refined into titanium metal.

2.????Sponge metal production

Ilmenite and rutile are refined into titanium sponge using the Kroll refining process.

3.????Ingots and melted products

Titanium sponge is melted into ingots and other melted products.

4.????Mill products

Finished products like bars, sheets, and tubes are manufactured from ingots. This process typically generates large amounts of machining scrap.

5.????Scrap

Scrap or waste accounts for large material losses in the supply chain. The current scrap recirculation rate is less than 70%.

Basic Stats on Titanium Market

The titanium market was estimated to be worth about USD24bn in 2022 and USD44.7bn by 2032. This surge in value could be attributed to increasing geopolitical tensions between Russia, Ukraine, and other NATO nations, leading to a significant rise in defense spending on a global scale.

As a result, there is growing demand for modernizing and upgrading defense equipment, particularly aircraft. Titanium, with its unique properties, plays a crucial role in meeting these requirements.

Stats of the Worldwide Titanium Industry:

• Titanium reserves:?The world's titanium reserves are estimated to be around 12 billion Tonnes.
• Titanium production:?The global production of titanium in 2022 was around 9.49 million metric tons.
• Titanium exports:?The global exports of titanium in 2022 were around 5.7 million metric tons.
• Titanium demand:?The global demand for titanium is expected to grow at a CAGR of 4.2% by 2030.

Stats of the Titanium Industry in India:

• Titanium reserves:?India has some of the largest titanium reserves in the world, estimated to be around 700 million Tonnes.
• Titanium production:?India's titanium production capacity is around 82.5 thousand metric tons per year.
• Titanium exports:?India exported around 66 thousand metric tons of titanium in 2022.
• Titanium demand:?The demand?for titanium in India is expected to grow at a CAGR of 3.97% by 2032.

The titanium industry in India is expected to grow in the coming years, driven by the growing demand for titanium in various industries. The government of India is also taking steps to promote the growth of the titanium industry, such as providing subsidies for titanium production and research.

Key countries involved in the Titanium Industry worldwide:

Asia’s Dominance in the Titanium Supply Chain

• China:?China is the world's leading producer of titanium, accounting for around 40% of global production.
• Russia:?Russia is the world's second-leading producer of titanium, accounting for around 15% of global production.
• Australia:?Australia is the world's third-leading producer of titanium, accounting for around 10% of global production.
• Mozambique:?Mozambique is the world's fourth-leading producer of titanium, accounting for around 5% of global production.
• India:?India is the world's fifth-leading producer of titanium, accounting for around 4% of global production.

Major Industries that use Titanium -

Titanium is a versatile metal with a wide range of properties, including strength, lightness, corrosion resistance, and biocompatibility. These properties have made titanium a valuable material in a variety of industries, including:

Aviation and defense:?This sector use both pure titanium and titanium alloys for a number of components. The aviation sector accounts for 75% of the available high-grade titanium sponge.

Titanium is used in the construction of aircraft and spacecraft because it is strong and lightweight. This makes it ideal for components that need to be both strong and fuel-efficient. For example, titanium is used in the construction of aircraft engines, fuselages, and landing gear.

Medical:?Titanium has low density and high strength and is corrosion resistant. Therefore, it is used in dental and surgical implants such as denture frames and bases, rod connectors, orthodontic wires, hip joints, bone plates and pacemaker housings.

Titanium: is used in a variety of medical applications, including implants, surgical instruments, and dental materials. This is because titanium is biocompatible, meaning that it is not rejected by the body. Titanium implants are often used in orthopedic surgery to replace damaged joints or bones.

Chemical processing:?Titanium is widely used for engineering applications because it is corrosion-resistant, strong and light. It is 40% lighter than steel but just as strong. It is used in the construction of chemical processing equipment because it is resistant to corrosion. This makes it ideal for use in applications where there are harsh chemicals present. For example, titanium is used in the construction of reactors, heat exchangers, and piping in the chemical processing industry.

Sports:?Titanium is used in the construction of sporting goods, such as golf clubs, tennis rackets, and fishing rods. This is because titanium is strong and lightweight, which makes it ideal for these applications.

In addition to these industries, titanium is also used in a variety of other applications, such as jewelry, electronics, and automotive parts. As the demand for titanium continues to grow, it is likely that this versatile metal will continue to revolutionize even more industries in the future.

Some specific examples of how Titanium is revolutionizing industries:

• In the aerospace industry, titanium is being used to make lighter and stronger aircraft.?This is leading to improved fuel efficiency and performance. For example, the Boeing 787 Dreamliner is made with a significant amount of titanium, which has helped to make it the most fuel-efficient commercial aircraft in the world.
• In the medical industry, titanium is being used to make implants that are more biocompatible and durable than traditional implants.?This is leading to better patient outcomes. For example, titanium hip implants are now the standard of care, as they have been shown to be more durable and have a lower risk of rejection than traditional metal implants.
• In the chemical processing industry, titanium is being used to make equipment that is more corrosion-resistant and efficient.?This is leading to lower operating costs and improved safety. For example, titanium heat exchangers are now the standard of choice in the chemical processing industry, as they are more resistant to corrosion than traditional metal heat exchangers.

Emerging trends in titanium use

Major trends expected to accelerate and increase demand for titanium:

·??????Green hydrogen

·??????Applications in sports and recreational activities

·??????Growth in bicycle industry

Green hydrogen:

Titanium is an important component in proton membrane electrolysis and is used to make bipolar plates for proton exchange membrane water electrolysis. Hydrogen produced by the electrolysis of water is used to power houses and fuel cars, trucks and buses.

The use of hydrogen as a low- or zero-carbon fuel is considered critical to achieving global net zero ambitions. Close to 90% of the world's economies have plans or policies that support hydrogen.?

The following major countries had issued announcements enabling the development of hydrogen as a low- or zero-carbon fuel as of early 2018:

Applications in sports and recreational activities:

Titanium has had an increasingly large impact on high-speed ships, high-performance automobiles and other components used in smaller sectors in recent years due to its properties such as weight, strength, ductility and chemical stability.

It also has excellent corrosion-resistant properties that help in environments exposed to seawater. Additionally, titanium products outperform their aluminum and steel counterparts in terms of fatigue and fracture strength.

The use of titanium alloys for ships (including submarines and naval vessels) is concentrated in Russia, the US, Japan and China:

Russia:?Russian "Typhoon" class nuclear submarines have a two-hull structure. A total of 9,000 tons of titanium has been used in the double shell.

US:?High-performance titanium alloys are used in ships such as nuclear-powered aircraft carriers, amphibious landing craft, landing craft and coastal exploration ships.

Japan:?Japan uses pure titanium for pressure-resistant hulls in deep-sea vessels and commercial and fishing vessels.

China:?China uses marine titanium alloys for hull structures, propulsion systems, power systems, electronic information systems, auxiliary systems and special equipment.

The high-speed shipbuilding and high-performance automobile sectors are expected to grow rapidly due to the ability of titanium alloys to operate at extreme temperatures, from sub-zero to over 600 degrees Celsius, making titanium alloys valuable in engine hulls and other applications such as ships and automobiles.

Growth in bicycle industry:

The global bicycle market was valued at USD8,715.1m in 2018 and is expected to grow to USD11,907.6m in 2025 at a growth rate of approximately 5.0%. As more people become health-conscious, especially after the pandemic, the bicycle market is likely to attract more demand than before.

Conclusion

Titanium is a metal with a wide range of applications in many growing sectors. A number of countries are moving to reduce carbon dioxide emissions and need to rely on green technology to do so, with green hydrogen at its core. This indicates the titanium market is in a high-growth phase.

Titanium finds application in industries that prioritise a good strength-to-weight ratio, chemical stability and corrosion resistance. Its remarkable thermal properties, high strength-to-weight ratio and ductility contribute to its versatility. It is, therefore, expected to be used very similar to steel in a number of sectors.

Western nations reducing reliance on Russian titanium companies presents an opportunity for other countries to step in to meet the growing demand. Countries such as China, Japan and the US are well positioned to capitalize on this opportunity and maximize the benefits associated with expanding the titanium market.

For more such insightful research, feel free to connect with RISHABH BHARDWAJ & Akshaya N.