TITANIUM SPONGE MARKET ANALYSIS

Name: Titanium Sponge Market News
Creator: Coherent Market Insights
License: https://www.coherentmarketinsights.com/privacy-policy

Titanium Sponge Market, by End-use Industry (Aerospace, Marine, Defense, Energy, Medical, Chemical, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022-2028

Key Developments:

In October 2018, the Sylvain Gehler, chairman of Ust-Kamenovgorsk Titanium & Magnesium Plant JSC (UKTMP) of Kazakhstan, analyzed the global titanium sponge capacity and supply trends. According to his analysis, global titanium sponge capacity was estimated at 255.3 kilo tons, with China rapidly expanding its supply with increasing its production capacity (93 Kilo tons as of 2018). Lower inventory could lead to higher demand for titanium sponge and also increased sponge production – he added.
In October 2018, Nobuhiro Arimoto, (GM - High-Performance Materials Department, OSAKA Titanium Technologies Co., Ltd.) announced an investment of US$ 10 million for a new titanium alloy powder plant, which will be derived from titanium sponge and will have a production capacity of 100 tons. The titanium alloy powder facility is expected to start operations by 2020.
In September 2018, Boeing Company announced that Chinese Airlines will buy 7,690 new airplanes worth US$ 1.2 trillion over next two decades to keep up with high air travel demand in the country. This will positively influence the global demand for titanium sponge market.