The latest report titled “Titanium manufacturing” by Procurement Resource, a global procurement research and consulting firm, provides an in-depth cost analysis of the manufacturing process of Titanium.
Procurement Resource study is based on the latest prices and other economic data available. It also offers additional analysis of the report with detailed breakdown of all cost components (capital investment details, manufacturing cost details, economics for another plant location, dynamic cost model). In addition, the report incorporates the manufacturing process with detailed process and material flow, capital investment, operating costs along with financial expenses and depreciation charges.
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Procurement Resource’s detailed report describes the stepwise consumption of material and utilities along witha detailed process flow diagram. Furthermore, the study assesses the latest developments within the industry, including Titanium manufacturing process, that might influence Titanium manufacturing cost, looking into capacity expansions, plant turnarounds, mergers, acquisitions, and investments.
Product Definition:
Titanium is a chemical element with the atomic number 22. Though naturally present in different mineral compositions, it is primarily found in ilmenite and rutile. The element is naturally available in the earth's crust and is produced via the sulphate process comprising three steps, including soaking the ore in sulfuric acid forming sulphates, hydrolysing titanyl sulphate to make insoluble hydrated titanium dioxide, and at last, heating the solid for evaporating water and dissolving the sulfuric acid. Its respective melting and boiling points are 1660 °C and 3287 °c.
Market Drivers:
Titanium is mainly used in applications like electric power plants, heat exchangers, saltwater desalination facilities, and aeroplanes owing to its properties, such as being lightweight, having great corrosion resistance, and being strong. Furthermore, due to its visually pleasing surface and luxurious feel, it finds application in consumer products, information technology (IT) equipment and recreational goods. In addition, the metal's outstanding strength-to-weight and high-temperature qualities make it ideal for aerospace applications. In aeroplanes, many fasteners and components are usually made using titanium; these include gas turbine engines, compressor blades etc., which further the industry's expansion.
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