Commercial Aerospace Trends Gain Altitude Despite Inflation and Supply Chain Concerns (continued)
Master Alloys Vince Rocco, vice president, sales and marketing with AMG Advanced Metallurgical Group N.V., focused his presentation on “Accelerating the Energy Transition – Titanium Master Alloys: the Hidden, Yet Critical Part of the Titanium Supply Chain.” Rocco said master alloys allow titanium producers to add alloying elements into titanium melts. “They contain two or more alloying elements that are needed for a particular titanium grade. The alloying elements enhance the properties of titanium to increase strength, weldability, and temperature resistance.” The production of master alloys involves an aluminothermic reaction (elemental oxide plus aluminum powder), which yields a master alloy plus Al2O3 slag. “The fuel for the reaction comes from the aluminum powder and the reaction is initiated. An exothermic reaction consumes the aluminum powder and elemental oxide. A metal ingot forms with slag settling on the top, and no external energy is used for the process.” Regarding vanadium and molybdenum, Rocco said China dominates vanadium production, while Russia is a key player in vanadium production and the aerospace industry uses vanadium from primary ore and secondary production. Vanadium demand is dependent on steel production. The molybdenum market is expected to grow at a CAGR of 4 percent between the years 2022-2027, according to Morder Intelligence. Molybdenum growth will be fueled by the automotive, aerospace and energy markets. The trend towards electric vehicles could reduce molybdenum consumption, but in the aerospace market, global demand for new jets is forecasted to increase 48
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about 80 percent. The dynamic for titanium scrap and sponge will involve titanium melters matching the most economical inputs into their formulations, according to Rocco. Reduced aircraft build rates and excess titanium inventory led to titanium scrap shortages in 2021 into 2022. Risk mitigation by titanium consumers is bolstering titanium production in the United States. Sponge and master alloy utilization is increasing. Rocco summarized his remarks by saying master alloys “are highly engineered products important to the titanium industry. Master alloy
raw materials are sourced from all over the world. Ongoing supply chain issues also affect master alloy producers. (The current, tense) geopolitical environment has added an additional element of risk to the industry.” The Velta Titanium Process Andriy Gonchar, technical director, and Artem Yarovinsky, sales and marketing director, Velta Holding US, outlined the Velta Titanium Process. Velta LLC is a feedstock producer and the only privately owned company in Ukraine, which has built a mining and processing complex. Founded in 2006, Velta has