In 2024, titanium prices fell to the lowest point in the last decade or so due to factors such as the continuous expansion of production capacity. Data show that as of December 13, the average price of domestically produced titanium sponge has fallen to 43.5 yuan/kg, the lowest level since 2011 records. Analysis pointed out that the accelerated expansion of processing capacity and slow incremental demand, as well as the lower cost of production due to the layout of the whole industrial chain of large enterprises, is the main reason for the downturn in titanium prices.
Despite the downturn in titanium prices, titanium metal downstream application scenarios have been further enriched. In addition to the traditional aerospace, petrochemical and other fields, the application of titanium alloy in the field of civil consumer goods is also gradually increasing, especially in the field of 3C products, titanium alloy has become a popular material choice. In recent years, head cell phone manufacturers have adopted titanium alloy materials, such as Apple, Xiaomi, Huawei, etc. The application penetration of titanium alloy in the middle frame of cell phones, folding screen hinges, watch cases, etc. continues to increase, and it is expected that the global cell phone titanium alloy middle frame market size will reach 43.2 billion yuan in 2027.
At the same time, the domestic titanium alloy 3D printing industry is also developing rapidly. A titanium industry leader announced that part of the investment project will be changed to "titanium alloy 3D printing pilot production line construction project", with a total investment of about 0.57 billion yuan. The largest domestic metal 3D printing service provider also plans to invest 1 billion yuan, the construction of high-quality additive manufacturing raw materials titanium alloy, high-temperature alloy powder production line and other ancillary projects to meet the fast-growing market demand for additive manufacturing industry.
Industry insiders said that compared with the traditional forging and casting processing methods, 3D printing technology can realize the design and manufacture of more complex shapes, save raw materials, improve processing efficiency, is one of the most cost-effective way of titanium alloy processing. In the future, with the continuous progress of technology and further cost reduction, titanium alloy 3D printing is expected to be applied in more fields.
Looking ahead, the development opportunities for titanium metal are in the aviation and shipbuilding industries and the 3C sector. However, high costs limit downstream demand, and titanium metal companies need to focus on product quality and structure optimization, and move to areas with lower electricity costs. Meanwhile, low-end and homogenized products are under greater pressure, and mergers and acquisitions within the industry will accelerate. Under the new opportunity of low titanium price, titanium metal industry will usher in new changes and development.
