Global Tungsten Market 2020 Growth Opportunities and Analysis 2025
Category: #reports  By Rahul Sankrityayan  Date: 2020-05-26
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Global Tungsten Market 2020 Growth Opportunities and Analysis 2025

Global tungsten market will be propelled by the product's extensive usage in a broad range of industries including metal working, mining, oil & gas, aerospace, defense, automotive, etc. The product finds its usage in different forms for a varied array of applications. Tungsten is employed in manufacturing different alloys such as tool steel, high-speed steel, and many more. The product is also used in the fabrication of carbides, which are popularly used as cutting tools, drill bits, and for other such high strength and high temperature applications.

Pure tungsten products are used in the electronic industry whereas salts, sulfides, or oxides obtained from the product finds usage in the chemical industry in manufacturing lubricants, catalysts, etc. Since most of the tungsten products finds usage in manufacturing and other related industries, the overall development of the world economy will have a direct effect on the product market.

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The report contains details about the production, remuneration, price, growth rate of each segment, as well as market share.

Growth Drivers are

  • Increasing demand for hard metals
  • Increasing use of tungsten in various alloys
  • Proliferation in electronic industry

By Application

  • Tungsten carbide
    • Automotive parts
    • Aerospace components
    • Drilling, boring & cutting equipment
    • Logging equipment
    • Others
  • Metal alloys
    • Automotive parts
    • Aerospace components
    • Drilling, boring & cutting equipment
    • Logging equipment
    • Electrical & electronics appliances
    • Others
  • Mill products
    • Automotive parts
    • Aerospace components
    • Drilling, boring & cutting equipment
    • Logging equipment
    • Electrical & electronics appliances
    • Others
  • Others (salts, tungstates, sulfides, oxides, etc.)
    • Electrical & electronics appliances
    • Others

By End-use

  • Automotive parts
  • Aerospace components
  • Drilling, boring & cutting equipment
  • Logging equipment
  • Electrical & electronics appliances
  • Others

Aerospace is a key end-use sector in the tungsten market which is likely to gain with a compounded annual growth rate exceeding 7%. Aircraft manufacturing industries in the U.S., Germany, France, and other such developed countries will propel this end-use sector's growth. Electrical & electronics appliances end-use will grow by a CAGR above 8%. Tungsten products finds usage in manufacturing electrical contacts, filaments, X-ray tubes, heat sinks, bulbs, and many other such components in the electronics industry.

Asia Pacific, Europe, and the U.S. are the major tungsten markets in the world. High product demand from China will be a major factor driving the Asia Pacific market. European tungsten market will be chiefly augmented by rising product demand in France, Germany, Russia, Italy and the UK, mostly from the aerospace and automotive industries.

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Report Highlights

– A detailed pricing analysis on the source of the product, application, and regional segments

– An in-depth evaluation of the vendor matrix as well as leading companies that would help understand the competition scenario in the global market

– Insights about the regulatory as well as investment scenarios of the global Tungsten market

– An analysis of the factors fuelling the market growth as well as their influence on the projection and dynamics of the global market

– A detailed roadmap presenting the growth opportunities in the global Tungsten market alongside the identification of key factors

– An exhaustive evaluation of the numerous trends prevailing in the global market that would help identify market developments

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About Author

Rahul Sankrityayan

Email: [email protected]   

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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