Titanium has attracted greater attention of the industries for wider applications. Many industries are showing interest to use this metal. The technology is progressing and the major industries have focus on cutting their manufacturing costs. The profitability can be increased through cost reduction. There are various ways to effect cost reduction, but some additional costs of present can make drastic reduction in future costs.
Is titanium a costly metal?
The aspect of cost reduction can be studied by a major focus on the use of titanium metal in many industries. Titanium piping has made its place in many industries such as chemical processing, and oil and gas industries. Many more industries consider titanium as the suitable metal for various applications. Many people are of the view that titanium is a costly metal, and the infrastructure created by the use of titanium will make substantial increase in fixed costs because every titanium tube or pipe would require an additional cost compared to some other metal.
Titanium use is a way of cost reduction
This is right that cost of titanium is higher compared to other metals, but its durability is more. A titanium pipe will need spending of additional funds but when this cost is apportioned over number of years the pipe can be used without recurring maintenance costs, the resultant fixed cost will be reduced. It will probably lower than the cost of any other metal.
Why titanium is in high demand
The above aspect has been considered from two different perspectives: fixed cost and operational cost. In both ways, titanium is considered to be cheaper. Thus, the cost factor that appears to be a limiting factor becomes a positive factor for the use of titanium in multiple applications. This could be one of the reasons titanium applications are dominating in many industries. Titanium’s demand is consistently mounting and its acceptance has become faster than before. Titanium will probably be a super metal some day in future.