May 25 2005
Research and Markets has announced the addition of The Economics of Titanium Metal to their offering.
Since the attacks on the World Trade Center in September 2001, the titanium industry has been characterised by steep decline in demand for its use in aerospace applications. Demand for titanium sponge in the USA fell by 34% in 2002. However, in the absence of further catastrophic events impacting directly on commercial airlines, demand for titanium metal is forecast to recover steadily, with the western world's passenger airline fleet of over 100 seats expected to increase from 10,800 aircraft in 2004 to over 30,000 in 2020.
Use of titanium worldwide is more or less divided equally between aerospace and non-aerospace applications, with the emphasis on aerospace being slightly greater in the USA. Industrial applications account for nearly 70% of the non-aerospace sector, with the high cost of titanium recovery and processing discouraging its greater use in automotive, consumer, medical and military applications. Supply of titanium sponge is confined to nine producers in six countries. Russia, Kazakhstan and Japan now account for an estimated 75% of world production, which was around 73kt in 2003. In contrast the USA accounts for 54% of the world ingot capacity of a nominal 161kt. This is divided primarily between the three major US producers, Timet, Allegheny Technologies and RMI Titanium.
'The Economics of Titanium' analyses the key trends, issues and developments in the market. It provides a clear insight into all areas of the industry and an authoritative analysis of the prospects for the future.
http://www.researchandmarkets.com/reports/c17906