智通财经网·2025-12-31 03:13Core Viewpoint - Titanium metal is gaining traction across various sectors such as aerospace, medical, consumer electronics, and daily life due to its unique advantages like high strength, low density, corrosion resistance, and good biocompatibility. The demand for titanium alloys is expected to enter a period of explosive growth, with a projected demand growth rate of over 10% annually for the next three years. The maturity of 3D printing technology is significantly expanding the application boundaries of titanium alloys, particularly in precision and difficult-to-process parts [1]. Titanium Industry Chain - The global titanium industry can be divided into two main chains: the chemical industry chain (titanium ore → titanium dioxide) and the non-ferrous metal industry chain (titanium ore → sponge titanium → titanium alloys). Titanium dioxide accounts for 82% of global titanium concentrate consumption, primarily used in coatings and plastics, while sponge titanium represents about 11%, mainly used for producing titanium materials and various titanium alloys [1]. Titanium Ore Industry - Titanium ore is categorized into high-grade rutile and low-grade ilmenite, with domestic production primarily from ilmenite found in the Panzhihua region. The domestic titanium ore industry is highly concentrated, with four companies (Pangang Group, Longbai Group, Anning Co., and Chongqing Steel) accounting for over 60% of national output. In 2024, global titanium concentrate production is expected to reach 9.4 million tons, with China producing 3.04 million tons and importing 5.05 million tons, indicating a high dependency on foreign high-grade ores [2]. Sponge Titanium Industry - In 2024, global sponge titanium production is projected to be 320,000 tons, with China contributing 220,000 tons, representing 69% of the global supply. China is a net exporter of sponge titanium, with imports of 101 tons and exports of 5,993 tons. The capacity utilization rate for sponge titanium in China is expected to be 85% in 2024, compared to 78% globally. However, there is an oversupply of low-end sponge titanium capacity, leading to poor profitability, while high-end sponge titanium maintains reasonable profits due to technical and certification barriers [3]. Titanium Processing Materials and Powder Industry - The demand for titanium in aerospace has accelerated, increasing from 4,000 tons in 2011 to 32,200 tons in 2024, with its share of total consumption rising from 8% to 21.3%. In North America and the EU, particularly the U.S., over 50% of titanium product demand comes from aerospace and defense sectors. The consumption of titanium alloys in aerospace and 3C electronics is expected to continue growing rapidly, driving overall titanium material consumption. Additionally, advancements in 3D printing technology have made titanium alloy powder the most used material in 3D printing, accounting for about 20% of the materials used, which will further boost titanium alloy demand [4].