Titanium
Sponge Market: Overview
·
Titanium sponge is an intermediate product used in the
production of titanium ingot & billet and titanium powder. Titanium sponge is
a porous form of titanium.
·
Titanium sponge produced through the Kroll process is used
extensively in aircraft engines, fuselages, chemical plants, oil and gas
plants, electric power & desalination plants, building structures,
automobile products, and biomedical devices
Manufacturing
Process of Titanium Sponge
·
The Kroll process involves the following four steps: (i)
Titanium ores are stripped of oxygen and chlorine gas is blown into
chlorinator, which binds with ore forming crude titanium tetrachloride. Crude
titanium tetrachloride [TiCl4] is then distilled to remove impurities to
produce it in its purest form; (ii) Molten magnesium is fed into a vessel,
where a reduction reaction occurs with liquid titanium tetrachloride, which
further forms titanium sponge. Vacuum is generated inside the vessel with the
help of an electric heater. As a result, the remaining magnesium and magnesium
chloride in titanium sponge evaporates and produces high purity titanium
sponge; (iii) magnesium chloride formed during the reduction process is
further decomposed into chlorine gas and magnesium by electrolysis. Chlorine
gas can be reused in chlorination process; (iv) titanium sponge gets extracted
from the vessel and crushed into smaller pieces with the help of guillotine cutter,
shear, and crusher.
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Key
Drivers of Titanium Sponge Market
·
The aerospace & defense sector accounts for major share of
titanium sponge market. Titanium sponge is an important raw material that is
used in the production of aircraft engines and fuselage & military
airframes owing to its excellent set of properties such as high
strength-to-weight ratio, high strength at high temperatures, corrosion
resistance, and thermal stability. Boeing and Airbus are the only two aircraft
manufacturers that employ titanium sponge in the production of aircraft frames
and components. Boeing, a U.S.-based aerospace company, delivered a record
number of commercial jets in 2018, reaching 806 planes compared to the previous
record of 763 in 2017. Airbus, another key player, achieved 800 commercial
jet deliveries in 2018 compared to 718 in 2017. Despite the slowdown in
demand caused by Covid-19, this figure is estimated to increase after 2020,
when global restriction on international air travels eases.
·
Titanium sponge also has a wide range of industrial applications
in the chemical & petrochemical industry. Titanium sponge is used in the
chemical & petrochemical industry for corrosion resistance in equipment
such as heat exchangers, tanks, process vessels, and valves. Growth in
manufacturing sector of countries in Asia Pacific such as Vietnam, India, and
Thailand is expected to drive the demand for titanium sponge in industrial
applications in the near future.
·
Other major industrial end-users of titanium sponge include
power plants, desalination plants, pollution control equipment producers, and
aluminum and steel industries
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Key
Restraints of Titanium Sponge Market
·
As per the International Air Transport Association (IATA), air
traffic is estimated to be down by 48% in 2020 due to the Covid-19 pandemic.
Airline passenger revenue is anticipated to decline by 55% or US$ 314 Bn by the
end of 2020. This is estimated to negatively impact the titanium
sponge market till international travel resumes across the globe.
Trends
in Titanium Sponge market
·
In February 2020, VSMPO-Avisma Corporation announced plans to
increase its production output of titanium sponge, a raw material used to
produce titanium, by 10% to 44,000 tons for the year. The company also
increased its production output of titanium products by 15% to 33,000 tons in
2018.
·
On February 27, 2020, the U.S. President Donald Trump announced
that he would not impose any additional duty on the import of titanium sponge.
As per the report published by the U.S. Department of Commerce, the U.S.
imports 94.4% of titanium sponge from Japan. Imports are adversely affecting
U.S.-based manufacturers of titanium sponge.
·
In 2019, Yunnan Xinli Nonferrous Metals Co. Ltd., a subsidiary
of Lomon Billions Group, produced its first batch of 10,000 tons of titanium
sponge
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Key
Manufacturers Operating in Titanium Sponge market
Key manufacturers operating in the global titanium sponge market
include:
·
VSMPO-AVISMA
·
Kerala Minerals and Metals Ltd (KMML)
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TOHO TITANIUM CO., LTD.
·
OSAKA Titanium Technologies Co.,Ltd
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UKTMP
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Baoji First Titanium Industry (Group) Co., Ltd.
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Chaoyang Jinda Titanium Industry Co Ltd
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Luoyang Sunrui Wanji Titanium Industry, Co., Ltd.
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Zaporozhye Titanium & Magnesium Combine
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Titanium Metals Corporation
·
Arconic Inc.
·
Western Metals Minerals Co. Ltd.
·
RTI International Metals, Inc
·
Allegheny Technologies Inc.
·
Howmet Corporation (Alcoa, Inc.)
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