Profitability,Titanium,Jewelry business, insurance Profitability Of Titanium Jewelry
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In the jewelry industry today, there are alot of choices for customers. Various styles, designs, metals, gems, and pricesof jewelry available today makes it sure that there is something for everyone.With its rising popularity in recent years, titanium jewelry is a great productthat makes many jewelry buyers more and more excited. But customers are not theonly ones who gets thrilled by the ongoing popularity of titanium.Manufacturers, retailers and designers are also given much opportunity with thecurrent state of patronage for jewelry made of titanium. Many people think that titanium is a newmaterial, a notion that is both correct and incorrect. Technically, titaniummetal is not new because it has been used since its discovery in 1791 byWilliam Gregor. But due to the laborious and high cost of processes required toextract titanium from ores, the metal has not been used outside the laboratoryuntil 1932. Commercial use of titanium started with military and submarineapplications. Then it has been used in aviation and aerospace, transportationand chemical processing industries. In recent years, due to innovations inmaking the extraction process of titanium easier and cheaper, the jewelryindustry has been able to utilize the metal in the creation of products thatare more affordable than precious metals like gold, silver or platinum. In theearly 1990's, the first jewelry made of titanium became available to themarket. In the beginning, using titanium for jewelry was risky formanufacturers and retailers because the "new" metal did not have theguaranteed market compared to gold or silver. But since its introduction,customers reacted quite positively to titanium even though it is more priceythan alternative metals like stainless steel jewelry. This is due to its uniqueproperties that give in a particular niche in the industry and attractingspecific types of buyers. Though not considered as a precious metaldue to its abundance, titanium is cost relatively higher than othernon-precious metals. This stems to the high cost and labor-intensive processingof the metal. Despite this, many buyers today still buy jewelry made oftitanium because of its great physical properties which include the higheststrength-to-weight ration among all metals, great durability, corrosionresistance and the fact that it can be available in various colors throughanodization that will not fade or tarnish under normal circumstances. Thenon-precious status of titanium is also good for retailers and customersbecause unlike gold and silver, the price of titanium is not dependent oneconomic forces. A great part of the consumer market forjewelry made of titanium are men who either buy it as casual accessories or asspecial occasions jewelry like engagement or wedding rings. Women are alsogreat patrons of titanium accessories as more and more designers adapt themetal to their lines and collections. It unique properties that make it hard tocompare to other metals with plus its history as a metal that reach outer space(titanium is widely used as materials for satellite and spaceship parts) makestitanium jewelry one of the most coveted products today in the industry, makingit highly profitable for retailers and very satisfying for customers.
Profitability,Titanium,Jewelry