Like many other industries, the titanium market took a significant hit during the global covid-19 pandemic. One reason for the slowdown is that the titanium plate is a key component for building things like planes, which spent a considerable amount of time grounded during the pandemic.
Titanium plates are a massive resource in the surgical industry. Everything from spinal surgeries to bone repairs uses titanium. Those surgeries have also been delayed so that the hospitals don’t get overrun. Making the orders for the titanium slow down with them.
However, the dip in the titanium market is seemingly short-lived. Even as we currently face serious shipping and distribution problems globally, the titanium market remains on the rise, with projections showing the market will grow to 33.5 Billion by 2026 with a CAGR of 6.3%.
Common Uses for Titanium Plates Driving the Market
It’s incredible how diverse and unique titanium is as a material, and it’s used in almost every industry in the world these days one way or another. Here are a few of the top things that titanium is used for that are helping raise the market value.
Power Plants and Titanium Plates
Power plants are a significant consumer of titanium plates. Because titanium does well with water and heat, it’s an excellent choice for any industry where corrosion is a possible problem. Titanium sheets, for example, are used in holding tanks to ensure they don’t degrade.
Protecting the Military and Police
Titanium plates in armor for those in the military and those in the police force boost the industry. Titanium is significantly lighter than other metals and provides equal or better protection than previously used materials.
Computer Components Made with Titanium Plates
People usually think of silicone with computers, but laptops are a big consumer in the titanium industry. Again its lightweight nature and toughness make titanium shine for creating stronger, tougher laptops.
Global Shortages and Slow Downs
There are a multitude of reasons for the current supply and distribution issues going on globally. From a shortage of drivers to deliver materials to backups at the ports right now, it’s more important than ever to choose the right supplier for your titanium plates.
What to Look for in a Titanium Plate Supplier
There are a lot of things to consider when you’re looking for a titanium plate supplier. Price, quality, range of services and availability, the shipping process. Here are a few of the things that you want to see in a quality supplier.
Knowledge and Experience
The first thing you want to consider when dealing with a supplier for your titanium needs is their experience. Experience in the market is key to getting the best products for your production needs.
A titanium supplier will be an expert in their field; they should be ready and willing to answer any questions that you have. In addition, the employees they hire will have not only the experience but the training to be able to walk you through the process.
Quality and Consistency
Most suppliers are aware of the importance of high-quality titanium. However, each industry has a different level its products require. For example, the aerospace industry, which includes things like airplane manufacturers to space ship parts, requires that items meet particular industry-standard specifications.
On the less specific side of this, you want to work with a company that provides mill reports as an option for their titanium plates. Mill testing is done to validate the quality and general makeup of the titanium you’re ordering.
When you decide on a new supplier for your titanium plate products, be sure they can meet the quality and consistency your business or industry requires.
Variety and Flexibility
Titanium comes in a variety of grades. Each grade has a different chemical makeup and a quality that works in another industry or product. For example, the grade used in military armor is significantly different from that used in making computer cases. When you talk to a supplier, ensure they understand what it is your business needs are. They are experts when it comes to the grades that are available in Titanium plates.
Flexibility in your orders is essential as well. Do they provide customized options? Do you need a piece drilled as well? Is that something that your supplier can provide along with your purchase for a little more money? Or do you need to go through a third party? Suppose you need other services like machining or simply sawing the titanium. In that case, you will want to talk to the supplier and see if this is a service they offer internally or work with another company to provide a deal for their clients.
Getting the Product
With the world struggling with supply chain issues, the delivery may be the most vital thing to consider when choosing who to hire to provide your titanium plates.
Work with someone who has a history of providing quick turnaround time on their orders. How fast you can get the plates, you need for your project matters. The longer you have to wait, the longer you are away from making a profit.
It is important to consider what is happening globally, so some allowance should be given for circumstances outside the company’s control. One of the easiest ways to see if these global shortages or delays will be a problem is to discuss it when getting ready to make your order. Any quality supplier will be upfront about any shipping issues they might be having.
Growing Market and Demand
With the entire market growing, there are likely to be new suppliers, both legitimate and illegitimate, popping up worldwide. That’s why it’s so important to go over these tips when selecting a supplier. We know how important it is to get quality for your money in the business world, so don’t be caught off guard. Understand who you’re working with when sourcing your titanium plates, regardless of what you need to do with them.