Demand for titanium continues to climb to new heights with worldwide consumption exceeding 70,000 tons per year for the last four years. Industry analysts attribute much of this growth to the aerospace industry as demand continues to grow for newer, more fuel-efficient aircraft. Additional growth has also been forecasted in the industrial markets, based on consumer demand and expansion of infrastructure, both of which are expected to resume growth as the recession lifts.
Current industry projections for titanium indicate a 40 percent increase in demand by 2015. Anticipating this growth, many major producers of titanium have announced plans to increase their production capacities.