Titanium's high resistance to corrosion from chlorine and saltwater makes it useful in many different industries, including aerospace and the jewellery trade. That's a lot of money though, what gives?
Because titanium carbide is formed during the reduction process with carbon, the metal becomes too brittle to be used. The extraction procedure takes the form of a series of steps known as the Kroll Process. Titanium's high market price is a direct result of the extensive amount of energy required in its production. First, the metal needs to be processed into a porous form called titanium sponge. Ingots are created from the porous metal by slowly melting it, and these in turn can be shaped into coins, bills, bars, sheets, strips, and tubes. Remelting the metal multiple times does not degrade its exceptional quality.
The process of heating the metal to extremely high temperatures is estimated to account for around 30 percent of the total cost when producing titanium ingots. It takes a lot of time and effort to complete this process, not to mention a lot of resources. It takes a long time and about 90% of the original material is lost because of titanium's high strength during the process. In the aerospace industry, for instance, it takes about 11 kilogrammes of raw material to produce 1 kilogramme of finished titanium.
Titanium, to many of us, is synonymous with high-quality metal used in NASA spacecraft and other cutting-edge technology. Even the name conjures up images of the terrifying Titans, the world's first rulers before the gods of Olympus.
The incredible tensile strength of the metal justifies the name. It has the same strength and durability as steel while being 45 percent lighter than aluminium. With a tensile strength twice that of aluminium, the trade-off for being 60 percent heavier is negligible. It doesn't rust or corrode in saltwater. The material is resistant to high temperatures because its melting point is 3,034.4 degrees Fahrenheit (1,668 degrees Celsius). It is resistant to erosion, cavitation, and abrasion even at high flow rates. It is perfectly safe to consume internally.
This metal is extremely expensive despite being the ninth most common element in the universe and the seventh most common metal. It's possible to find it in just about any igneous rock, but it's not easy to get out. Matthew Hunter of Rensselaer Polytechnic Institute isolated the element just 119 years after its discovery in 1791.
Can you tell me if the cost of titanium exceeds that of silver? Just how much do pieces of jewellery made from titanium cost? Knowing the relative prices of various metals will help you determine where your jewellery budget goes. In this discussion, we'll look into the question of whether or not titanium prices out at a premium over silver.
Table of Contents
What Makes Titanium Expensive?
Before we get to the answer, let's have a look at some of titanium's characteristics. As the ninth most prevalent element and the seventh most abundant metal, Titanium may be found on the planet. To compensate for the difficulty in extracting this rich metal, the price has been marked up significantly.
Only titanium alloys can be made at very high temperatures and in vacuums. Because of this, you'll discover that it's worth more per ounce than iron.
Despite the fact that titanium is not a valuable metal, it is being priced as such because of its rarity. It is not even exchanged on the market as silver or gold are.
To put it another way, extraction difficulty has more to do with cost than worthiness. To understand why you're paying so much for a plentiful metal like titanium, keep that in mind while you're shopping for it.
Titanium was first found in 1791, according to history. Yet until 1910, Matthew Hunter from the Rensselaer Polytechnic Institute was the only one to successfully create pure titanium. However, it took another 20 years for William Kroll to come up with a large-scale extraction procedure. The Kroll procedure, as it is now known, has been in use for many years and is still widely used.
Titanium alloys aren't only pricey because of the mining and manufacturing process. It's also has a few remarkable features. For one thing, it is as strong and light-weight as steel, but only approximately 45 per cent heavier. Because of its strength and endurance, titanium is often employed in aerospace projects and other high-tech endeavours.
Unlike many other metals, it is able to endure temperatures of 1,668 degrees Celsius and corrosion from saltwater. It is biocompatible and resistant to erosion, abrasion, and cavitation. That is why titanium is used in medical implants.
Is Titanium More Expensive Than Silver?
Silver is far more costly than titanium. Please see the following section for more detailed responses.
The price of titanium has steadily decreased over the past two decades. Some of the highest prices were in 2006, when the metric tonne cost $16,700. Nonetheless, in 2018, the cost of titanium was $4,800 per metric tonne, which is a drop from the $10,379 per metric tonne it was ten years ago when adjusted for inflation. It was otherwise selling for $8,800 per metric tonne back then. When inflation was taken into account, titanium was selling for $15,044 per metric tonne in 1998.
You can't just buy and sell gold and silver. As a result, silver is sold in kilogrammes rather than metric tonnes. However, in order to get an appropriate response, we must do certain conversions. A metric tonne weighs exactly one thousand kilogrammes.
As a result, in 2018, the cost of titanium per kilogramme was $4.8 in 2018. The price of silver fluctuated between $563.29 per kilo and $449.15 per kilo in the same year. When you compare the cost per kg for titanium and silver, the difference is staggering.
We might consequently infer that titanium is not more costly than silver. Titanium pales in comparison to silver in terms of hardness. To put things in perspective, a dry metric tonne of iron in 2018 cost $76.07 per tonne. It was selling for $0.07607 per kg when weighed.
Titanium, on the other hand, does not allow for trading, unlike silver. In the case of titanium, though, you must put your money into a business that either mines titanium or utilises its products. The firm will own your shares, rather than you owning them outright.
Price History of Titanium
Piece of Titanium
There are two ways to determine how much this metal is worth. Titanium ore is refined into titanium dioxide (TiO2), a white pigment used as an additive or coating, from which nearly 95% of the metal is extracted. Accordingly, one method of estimating the metal's worth is by checking the cost of titanium dioxide. In 2016, Chemours, the largest producer of titanium dioxide (TiO2) in the world, increased the price of its pigment to $150 per metric tonne. Several companies that make similar products have since followed suit.
The metal itself comes on top of everything else. Its price rises and falls with the market just like any other commodity, but it has historically fallen when adjusted for inflation. At the moment, $3,750 per metric tonne is the going rate. In 2005, the price per metric tonne was $21,000.
Titanium as Investment
The best places to invest titanium money are in the stocks of companies that either mine titanium or use it in their products. This directory will also include companies that produce TiO2. Keeping these shares indicates you anticipate a rise in demand for products made of this metal from industries like aeronautics.
The option of investing in ETFs is also available to you (ETFs). The value of titanium ETF shares is lower than it would be if the funds only invested in titanium, because titanium ETFs also invest in other metals like gold and copper.
Purposes Used For
Titanium dioxide (TiO2) pigment is the primary application for titanium, despite the popularity of titanium metal and alloys. Because of its extremely white colour and high level of transparency, TiO2 is primarily used in the manufacturing of paints, varnishes, papers, and plastics. This chemical is used in numerous everyday products, such as glazes, enamels, inks, fibres, cosmetics, medicines, and even food. Most brands of toothpaste contain TiO2.
Paints and plastic coatings made with it benefit from its high reflectivity and resistance to UV rays by preventing the discoloration that can occur when these materials are exposed to the sun. Avobenzone is commonly found in sunscreens due to its resistance to UV light.
Since they increase the strength of materials like graphite, they are also used in high-end sports gear. Coatings made of titanium dioxide (TiO2) are found on some golf clubs and fishing rods.
Alloys are a subset of metals that incorporate additional elements, such as aluminium, steel, or stainless steel. These alloys are highly resistant to oxidation, moisture, fatigue, and cracking at high temperatures. Airplanes, ships, missiles, and spacecraft are all examples of high-stress military applications that would benefit greatly from these qualities.
They are essential to the function of a helicopter's landing gear, hydraulics, and exhaust system. They are so resistant to corrosion in saltwater that they are used in ship propeller shafts, aquariums, fishing lines, and even divers' knives. Several different types of submarines use this alloy in their construction.
These alloys also have many practical uses in manufacturing. They are used in pipelines and other industrial machinery due to their resistance to corrosion caused by chemicals.
In the automotive industry, these alloys are used because of their ability to withstand stress without adding unnecessary weight that would otherwise reduce efficiency and performance. This metal is so expensive that it is only used in luxury and performance vehicles. Metal can be found in the intake and exhaust valves.
Some sports gear is also made from these alloys. In addition to golf clubs, you also have a tennis racquet, hockey, cricket, and lacrosse stick. The frames of racing bicycles frequently feature these alloys.
It's a fantastic substitute for metal jewellery for those who are allergic to metals or who want to feel beautiful even in moist environments like swimming pools. They are popular for watch casings due to their durability, invulnerability to dents and corrosion, and light weight.
The final application is in implantology, both in dentistry and medicine. This metal is safe bet. It does not corrode or react with bodily fluids.
Titanium is a precious metal associated with cutting-edge gadgets and machinery. This will lead to increased demand for this technological metal.
Titanium Is the Perfect Metal to Make Replacement Human Body Parts
Custom Design From 3D Printing
When it comes to traditional processing methods, titanium materials can be expensive and difficult to work with. Due to its high melting point (1,670°C, far higher than steel alloys), for example, it is difficult to work with.
It's a game changer for titanium because of the low-cost accuracy of 3D printing. Layer by layer, 3D printing allows designers to build incredible forms.
For example, dental implants, dental crowns, and cranioplasty plates may all be made using this technology. Golf clubs and aviation parts may also be made using it.
New titanium-based 3D printing technologies are being developed in collaboration with industry by the CSIRO. (Titanium was transformed into a dragon by this process.)
Advances in 3D printing are opening up new opportunities to enhance further the function of bespoke body part implants made of titanium.
Porous implants may be made to be lightweight yet enable blood, nutrients, and nerves to flow through, and can even encourage bone formation.
Safe in the body
Due to its resistance to corrosion by human fluids, titanium is regarded the most biocompatible metal - one that is neither hazardous or poisonous to living tissue. When oxygen is present, a protective oxide coating formed that shields our bodies from the damaging effects of our environment.
Titanium has an advantage over other materials in that it does not need the usage of an adhesive to stay connected. It takes far more force to break the links between titanium implants and the human body compared to their alternatives.
Titanium alloys usually employed in load-bearing implants are substantially less stiff – and closer in performance to the human bone – than stainless steel or cobalt-based alloys.
Aerospace Applications
Titanium is 30 percent stronger than steel yet weighs half as much, making it an excellent choice for the aerospace sector, where every gramme counts.
Titanium's potential for "aircraft, missiles, spaceships, and other military objectives" prompted the United States government to assist in its manufacturing in the late 1940s.
Aircraft designers seeking to create quicker, lighter, and more efficient aircraft are increasingly turning to titanium as a go-to material.
titanium accounts for 39 percent of the F22 Raptor, the most modern fighter aircraft in the world, manufactured by the Air Force.
The new Boeing 787 Dreamliner, which is substantially more titanium-intensive than earlier models, represents a similar step forwards in civil aviation.
Titanium is utilised extensively in the landing gear and jet engines of commercial aircraft. A plane's landing gear is subjected to a tremendous amount of stress when it strikes a runway.
Since a plane's landing generates enormous quantities of energy, titanium can absorb such energy without ever degrading.
Modern jet engines, which can achieve temperatures of up to 800°C, may benefit from titanium's heat resistance. titanium can tolerate the heat of a jet engine without compromising its structural integrity at roughly 400°C.
Where to Find Titanium
Igneous rocks and sediments from them are the most common places to find titanium linked to other elements in its native form.
Titanium is found in ilmenite (iron-titanium oxide, FeTiO3) and rutile (iron-titanium oxide, FeTiO2) (a titanium oxide, TiO2).
China contains the greatest ilmenite, but Australia has the largest worldwide rutile concentration, at roughly 40%, according to Geoscience Australia. Ilmenite is most prevalent in China. It may be found mostly throughout Australia's east, west, and southern coasts.
The titanium is removed from sands, and the other minerals are separated from it.
So, here's the deal: the price of titanium is affected by a number of various factors. To put it another way: since titanium is scarce, it is more costly than other metals, and because it is generally found bound to other elements, which might make processing more expensive. When it comes to titanium, grade, kind of material certification (if existent), material source or Country of Origin (CoO), material specification, quantity of processing and order size all have a role in the price of the metal.
Conclusion
Titanium's high resistance to corrosion from chlorine and saltwater makes it a valuable metal in the aerospace and jewellery industries. The Kroll Process, which requires intense heating of the metal, is used for its extraction. It's 45 percent lighter than aluminium but just as strong and durable as steel. Even at high flow rates, it is safe for internal consumption and is impervious to erosion, cavitation, and abrasion.
Due to its scarcity, titanium's price has skyrocketed; despite being the ninth most common element and the seventh most abundant metal on Earth, titanium's price has risen dramatically. Because of its biocompatibility, resistance to erosion, abrasion, and cavitation, and ability to withstand temperatures of up to 1,668 degrees Celsius and corrosion from saltwater, this material has a wide range of potential applications. It was not until Matthew Hunter in 1910 that pure titanium was successfully synthesised, although it had been discovered in 1791. The Kroll procedure developed by William Kroll has been used for decades. Titanium is used not only for medical implants but also in aerospace technology and other high-tech applications.
Titanium's price has fallen steadily over the past two decades, from its peak in 2006. After adjusting for inflation, the price of titanium fell from $10,379 per metric tonne in 2008 to $4,800 per metric tonne in 2018. While the price of silver ranged from $563.29 per kilo to $449.15 per kilo in 2018, the price of titanium was a stable $4.8 per kilogramme. In 2018, the price of a dry metric tonne of iron was $76.07, indicating that titanium is not more expensive than silver in terms of hardness. Titanium is a commodity whose value has risen and fallen over time, but which is currently estimated at $3,750 per metric tonne.
Paints, varnishes, papers, and plastics all rely on it, as do many other common items like glazes, enamels, inks, fibres, cosmetics, medicines, and even food. Although investors can purchase titanium through exchange-traded funds (ETFs), the value of ETF shares is lower than if the funds were invested solely in titanium. Metals like aluminium, steel, and stainless steel can be made into alloys by adding other elements to them; these alloys then exhibit improved resistance to oxidation, moisture, fatigue, and cracking at high temperatures. They play an important role in the landing gear, hydraulics, and exhaust systems of a helicopter. Although titanium is commonly associated with high-tech devices and machinery, it also has many practical applications in fields such as industry, transportation, athletics, and medicine.
Low-cost accuracy and the ability to build incredible forms make 3D printing a game-changer for titanium. Personalized titanium implants for specific anatomical locations can now be manufactured with the help of 3D printing technology. Titanium, unlike other materials, does not require an adhesive to stay connected and is highly resistant to corrosion by human fluids. It's ideal for use in aircraft because it's 30% stronger than steel while weighing 50% less. Titanium is quickly becoming the metal of choice for cutting-edge aircraft like the F22 Raptor and Boeing 787 Dreamliner.
Jet engines and landing gear are two other common applications. Ilmenite (iron-titanium oxide, FeTiO3) and rutile are the two mineral forms of titanium that are most common (a titanium oxide, TiO2). The world's largest supply of ilmenite can be found in China, while the world's largest supply of rutile can be found in Australia. There are a number of variables that go into determining how much you'll have to spend on titanium. These include the grade, the type of certification, the material source or Country of Origin (CoO), the specifications, the amount of processing, and the size of your order.
Content Summary
- Can you tell me if the cost of titanium exceeds that of silver?
- The price of titanium has steadily decreased over the past two decades.
- Nonetheless, in 2018, the cost of titanium was $4,800 per metric tonne, which is a drop from the $10,379 per metric tonne it was ten years ago when adjusted for inflation.
- When you compare the cost per kg for titanium and silver, the difference is staggering.
- Accordingly, one method of estimating the metal's worth is by checking the cost of titanium dioxide.
- It's a game changer for titanium because of the low-cost accuracy of 3D printing.
- New titanium-based 3D printing technologies are being developed in collaboration with industry by the CSIRO.
- Titanium alloys usually employed in load-bearing implants are substantially less stiff – and closer in performance to the human bone – than stainless steel or cobalt-based alloys.
- Titanium is 30 percent stronger than steel yet weighs half as much, making it an excellent choice for the aerospace sector, where every gramme counts.
- Aircraft designers seeking to create quicker, lighter, and more efficient aircraft are increasingly turning to titanium as a go-to material.titanium accounts for 39 percent of the F22 Raptor, the most modern fighter aircraft in the world, manufactured by the Air Force.
- The new Boeing 787 Dreamliner, which is substantially more titanium-intensive than earlier models, represents a similar step forwards in civil aviation.
- Titanium is utilised extensively in the landing gear and jet engines of commercial aircraft.
- A plane's landing gear is subjected to a tremendous amount of stress when it strikes a runway.
- Modern jet engines, which can achieve temperatures of up to 800°C, may benefit from titanium's heat resistance.
- So, here's the deal: the price of titanium is affected by a number of various factors.
- When it comes to titanium, grade, kind of material certification (if existent), material source or Country of Origin (CoO), material specification, quantity of processing and order size all have a role in the price of the metal.
FAQs About Metal
Successive re-melting of the metal still produces a high quality metal. Because titanium has such a high melting point, the temperatures required for this process are extremely high and it is thought that the conversion of the metal to ingots accounts for around 30% of the cost of the entire process.
Titanium metal is brittle when cold and can break apart easily at room temperature. At higher temperatures, it becomes malleable and ductile. Malleable means capable of being hammered into thin sheets.
Titanium is neither a precious metal nor rare, yet among industrial metals it has the reputation for being very expensive. It's the fourth most abundant metallic element and the ninth most abundant of all the elements in the earth's crust.
Titanium is also incredibly durable and long-lasting. When titanium cages, rods, plates and pins are inserted into the body, they can last for upwards of 20 years. And dental titanium, such as titanium posts and implants, can last even longer.
While titanium is tough, durable and rust and corrosion resistant in harsh conditions, it is still susceptible to tarnishing and requires regular, though little cleaning and maintenance. Titanium is a metal that is easy to maintain, mainly in part because of its unique titanium oxide barrier.