People have been developing using the ocean resource since the technology allows us to do it and the land resource is getting exhausted. Titanium is appealing for ocean engineering applications because of its excellent corrosion resistance feature. Therefore a great many of titanium products have been applied to the desalination of sea water, as well as for vessels and exploration of ocean resources.
As early as the 1960s, China had begun carrying out application research into the use of titanium in vessels. With much effort, a sound system of vessel grade titanium was established. Titanium enjoys unique advantages when applied to vessels and the marine industry. Submarines, bathyvessels, atomic icebreakers, hydrofoils, hovercrafts, minesweepers and propellers all have titanium in them.
Though China has a sound system for vessel grade titanium and the titanium used on vessels is growing, many key technologies haven’t yet been grasped due to the lack of cooperation between research organizations, material research institutions and vessel companies.
Some of BOFA TITANIUM customers are in the field of titanium used for ocean engineering.
In Russia, titanium consumption on vessels has reached 15%-20%, meaning the titanium market will be boosted dramatically, reaching hundreds of billions of dollars in market value. Oil exploration and exploitation will be the next potential market for titanium. Just one offshore oil drilling platform requires 1,500-2,000 tonnes of titanium. China plans to construct 70 platforms in the next 3-5 years, and consumption of titanium will reach 140 thousand tonnes. In addition, China has a great need for desalination and coastal power stations, and if cost reductions and quality improvements can be achieved, the titanium market’s prospects will be very bright.
Contact: Alex Hu
Add: Export Processing Zone,Fencheng No.12 Road,Weiyang District,Xi'an China