Price performance: Since the beginning of this year, the price of titanium sponge has gradually climbed, and it has gradually approached the high of last year, but the downstream procurement has a strong willingness to lower the price, and the actual transaction is still mainly low.
Cost support: The price of titanium sponge titanium concentrate has risen by 100 yuan/ton since the beginning of the year, and auxiliary materials such as superposition magnesium ingots have fluctuated, and the cost side has formed a certain support for the price. However, due to the lack of orders in the civilian market (such as chemical industry and metallurgy), the inventory pressure has not been effectively alleviated.
Forecast: in the short term prices or maintain weak stability, if the military orders concentrated release, may promote a small rebound.
Military demand recovery: orders in the aerospace field pick up, and the demand for titanium forgings in the manufacture of new aircraft and ships increases. It is predicted that in 2025, the demand for titanium for military aircraft may reach 22,000 tons, and more than 5,000 tons of titanium for aviation development will support the price of titanium ingots and forgings.
Civil aircraft increase: Domestic large aircraft C919 production capacity enhancement plan to drive titanium procurement, is expected to 2027 civil aircraft titanium will reach 6,213 tons.
Price trend: The price of high-end titanium forgings (such as aviation grade) has stabilized, and some enterprises enjoy a premium due to technical barriers; Low-end products are affected by homogenization competition, and prices are still under pressure.
Growth in the high-end sector: The demand for titanium plates for aerospace (such as the C919 fuselage structure) is rising steadily, and the stacking of orders for Marine engineering and medical devices is supporting the price of high-end titanium plates.
Traditional areas of weakness: the chemical industry, metallurgical industry demand downturn, resulting in a reduction in the purchase of low-end titanium slab and titanium rod, some enterprises to low-price strategy to inventory.
Export dynamics: Titanium bars, rods and other products have significant export advantages (export 26,000 tons in 2024), but high-end titanium plates still need to be imported, and the import unit price is 7 times that of exports, showing the technology gap. At the same time, the domestic strengthening of titanium alloy export control, high-end titanium alloy export difficulty increased.
Energy sector: Nuclear power and seawater desalination projects drive the demand for titanium tubes, and it is expected that the annual amount of titanium used in the desalination field will exceed 2,600 tons in 2025.
Chemical industry: PTA (refined terephthalic acid) equipment upgrade brings incremental demand, it is expected that 2025-2026 titanium consumption or increase by about 2,500 tons, but the overall chemical industry boom is insufficient, limiting the price upside space.
Price decline: The price of titanium alloy powder for 3D printing has halved compared with 2023, mainly due to process improvements (such as increasing powder yield) and the decrease in the cost of titanium sponge.
Application expansion: The surge in demand for consumer electronics (foldable screen phone hinges), new energy vehicles (lightweight components) and humanoid robots has promoted the growth of titanium powder procurement.
Competition pattern: Domestic enterprises accelerate technology iteration, but the international high-end powder market is still dominated by Europe and the United States, and the export certification process needs to be accelerated.
Market summary and outlook
Continued differentiation: high-end titanium materials (aviation, medical, Marine engineering) benefit from technical barriers and policy support, and the price is stable and rising; Low-end products (traditional chemicals, metallurgy) are subject to overcapacity and increased competition.
Cost and policy variables: titanium ore price fluctuations, tighter environmental policies and international supply chain restructuring (such as Europe and the United States to reduce dependence on Russia) or increase market uncertainty.