The global growth of titanium is expected to increase between 8-10% in 2019 due to vigorous industrial, engineering and energy activities and a surge in aerospace demand, according to the ITA. India is one of the top producers of titanium, a metal praised for its strength, lightweight, and diverse applications. The demand for titanium dioxide in the country is expected to grow up to 3.9% in the period 2011-2025 with aerospace a major area of development. Other fast-growing sectors that use titanium include the auto, medical and chemical industries.
Aerospace & Defense Market is Dominant
The Indian market is predicted to grow by over 5% in the period 2017-2024 according to a Global Market Insights Report. Engineering applications include the building of more planes for different purposes including rescue, commercial transport, medical, rescue and emergency as well as border and homeland control and security. Ammunition, arms, artillery and mine warfare are also part of this market.
One of the most important raw materials for the aerospace industry is titanium. Different titanium grades are used for aircraft engines, propellers, blades, landing gear, fasteners, and beams, among others. In addition to being lightweight, titanium can also withstand extreme temperatures from sub-zero to more than 600ºC making it suitable for plane casings.
Automotive Market Is Another Growth Area
Titanium in the global automotive market is set to get bigger at a rate of 3.3% over the period 2018-2023 according to Researchandmarkets.com. In India, the automotive industry is a major player in the economy and the country has already overtaken Germany as the world’s 4th largest auto market. The government’s initiative in infrastructure development, stricter enforcement of transport overloading and macroeconomic policies propel growth with utility vehicles in high demand. Titanium dioxide is a vital material with many applications in paints, textiles, rubber, and cosmetics. In the car industry, it is valued for its high refractive index and is used in paints and coatings. Ultracentrifuges and racing car parts are already made from titanium.
Titanium Alloys in the Medical Industry
Titanium alloy is a prime material for the medical sector as well. It is suitable for prosthetics and dental implants because it is strong and corrosion-resistant. Above all, it integrates well into the human tissue and bone (Sharan et al, 2015). Currently, India’s medical health sector is on the upswing with technological advances yielding success in the treatment, management, and eradication of illnesses and diseases. Consumables and disposables, dental products, diagnostic medical devices, orthotics and prosthetics, patient aids, and equipment and instruments form part of the medical industry. Valued at $5.2 billion in 2017 and with a current growth rate of 15.8%, the medical devices industry is expected to reach $50 billion by 2025 according to a WHO study on Medical Device Manufacturing in India.
Chemical Industries Development
Another sector where titanium is expected to play a major role is chemical production. Titanium is a regular choice in chemical industry applications because of its anti-corrosion properties widely used in the production of wet chlorine coolers and chemical compounds such as nitric, sulfuric, phosphoric and hydrochloric acid. The chemical industry in the country is expected to maintain its annual 9% growth rate according to the Tata Strategic Management Group Study.
Titanium applications in the various industries of India are flourishing with the aerospace and defence sector dominating the trend. Other sectors such as the automotive, medical and chemical industries are also going to expand translating to increased sales, more jobs and profits.