Petroleum refining and chemical engineering and environmental protection requirements have boosted the use of titanium in the chemical industry. The application of titanium alloy materials in the chemical industry is mainly chlor-alkali, soda ash, vacuum salt making, petrochemical fiber, fine chemicals and inorganic salts. It is used in electrolyzers, reactors, distillation towers, concentrators, separators, heat Exchangers, pipes, electrodes and other components.
In 2018, the consumption of titanium materials in China's chemical industry was 26,100 tons, up 8.8% year-on-year, accounting for 45% of the overall consumption of titanium materials. The increase in consumption of titanium in the chemical industry mainly comes from:
1) A large number of petroleum refining and chemical engineering projects represented by PTA have been put into production, driving titanium consumption;
2) Under the situation of strict environmental protection investigation, chemical companies have undergone production line upgrades and equipment upgrades, which has increased the demand for titanium products.
The consumption of titanium materials in the chemical industry is expected to increase to 32,900 tons in 2021, with a CAGR of 8.0% in 2019-2021. According to the statistics of Baichuan Information, as of the end of 2018, China's PTA production capacity has exceeded 52 million tons. In 2019-2021, China's planned PTA production capacity will reach 22.7 million tons. Based on the consumption of 150 tons of titanium per million tons of PTA capacity, the future In the past three years, the increase in consumption of titanium in the PTA field alone reached 2700 tons. With the consumption of titanium materials in chlor-alkali, salt production and other chemical industries remaining stable, it is expected that the consumption of titanium materials in China's chemical industry will maintain an average annual growth rate of about 8% in 2019-2021, and the consumption will increase to 282 / 3.04 / 3.29 million Ton.