Tungsten Market to generate over $110 bn revenue by 2024 | Xiamen Tungsten Company, China Minmetals Corporation, Chongyi ZhangYuan Tungsten Company, Global Tungsten & Powders Corporation, Wolfram Bergbau-und Hutten AG, H.C. Starck, Guangdong Xianglu Tungs

Tungsten Market was estimated over USD 3.5 billion in 2017 and the industry will grow by a CAGR of around 8% up to 2025.Tungsten Market size will likely surpass USD 8.5 billion by 2025; according to a new research report by Global Market Insights, Inc.

Europe is an important tungsten market accounting for more than one-fifth of the overall industry size in 2017. Steady growth in the regional automotive industry coupled with increasing production of aerospace components in Germany, France, Italy, and UK will provide a major boost for the product market growth.

Request for a sample copy of this research report @ https://www.gminsights.com/request-sample/detail/1249

Increasing tungsten usage in the production of various alloys will be a major growth enabler for the tungsten market. The product is used as a pure metal or mixed with other metals to make various alloys. These alloys are used in different applications due to characteristics such as flexibility, wear resistance and corrosion. The different types of alloys manufactured by using the product includes heavy metal alloys, superalloys, stellites, etc.

Heavy metal alloys are suited for high density applications as it comprises of 90% to 97% pure tungsten in a matrix of nickel – iron or nickel – copper. Including these elements help in enhancing both the machinability and ductility of these alloys over non-alloyed tungsten. They are employed as counterweights in helicopter-blades, aircrafts, rotating inertia members, as rigid tools for machining, x-ray and gamma ray radiation shielding, weights in golf club heads, darts, as well as for ordnance purposes. The product when mixed with copper and silver is often known as tungsten-based infiltrated metals.

Cobalt-chromium-tungsten alloys are known as stellites. These are corrosion and wear resistant alloys which are used for bearings, valve seats, pistons, and applications where a tough wear resistant material is required. Superalloys are cobalt, nickel or iron-based alloys with high contents of molybdenum, tungsten, rhenium, and tantalum.

Their vital properties include high creep strength, high-temperature strength, good oxidation resistance, high thermal fatigue resistance, excellent corrosion resistance, good welding properties, air melting capability and ease of casting. Superalloys are used in aircraft engines, turbine blades & vanes in stationary power units, in marine vehicles, exhaust gas assemblies as well as burner liners. They are also used as construction material for furnace parts.

Make an inquiry for buying this report @ https://www.gminsights.com/inquiry-before-buying/1249

Metal alloys is a major application segment in the global tungsten market. This segment is likely to grow with around 8% CAGR during the forecast timeframe. Increasing product usage in the production of steel alloys will give a significant boost to this application segment’s growth. Increasing demand for superalloys, heavy metal alloys, tool steel, and other such alloys which are manufactured using tungsten will propel the overall industry growth in the study period.

Chapter 3. Tungsten Industry Insights

3.1. Industry segmentation

3.2. Industry size and forecast, 2014 - 2025

3.3. Industry ecosystem analysis

3.3.1. Profit margin

3.3.2. Value addition at each stage

3.3.3. Distributor channel analysis

3.3.4. Vendor matrix

3.3.4.1. List of key raw material suppliers

3.3.4.2. List of key tungsten manufacturers/distributors

3.3.4.3. List of key tungsten product manufacturers/distributors

3.3.4.4. List of key/potential end-users

3.4. Raw material analysis

3.5. Innovation & sustainability

3.5.1. Patent analysis

3.5.2. Technology landscape

3.5.3. Production process

3.5.4. Future trends

3.6. Industry impact forces

3.6.1. Growth drivers

3.6.1.1. Increasing demand for hard metals

3.6.1.2. Increasing use of tungsten in various alloys

3.6.1.3. Proliferation in electronic industry

3.6.2. Industry pitfalls & challenges

3.6.2.1. Stringent environmental regulations

3.6.2.2. Demand-supply dynamics

3.7. Regulatory landscape

3.7.1. U.S.

3.7.2. Europe

3.7.3. China

3.8. Growth potential analysis

3.9. Competitive landscape, 2017

3.9.1. Company market share, 2017

3.9.2. Key stakeholders

3.9.3. Strategy dashboard

3.10. Porter’s analysis

3.10.1. Supplier power

3.10.2. Buyer power

3.10.3. Threat of new entrants

3.10.4. Threat of substitutes

3.10.5. Industry rivalry

3.11. Regional price trends

3.11.1. Cost structure analysis

3.11.1.1. R&D cost

3.11.1.2. Manufacturing & equipment cost

3.11.1.3. Raw material cost

3.11.1.4. Distribution cost

3.11.1.5. Operating cost

3.11.1.6. Miscellaneous cost

3.11.2. Price by application

3.11.3. Price by end-use

3.12. PESTEL analysis

Automotive parts is a major end-use segment in the tungsten market, gaining with a CAGR exceeding 8% from 2018 to 2025. The product is employed for different applications in automotive production and assembly. Pure tungsten, its alloys, or carbides are employed in the automotive industry as studs for tires (studded snow tires), ball joints, brakes, crank shafts in performance vehicles, and other mechanical parts that sees heavy usage or extreme temperatures. Increasing production as well as demand for automobiles will drive this segment’s growth in the study period.

Key participants in the global tungsten market includes China Minmetals Corporation, W Resource, Specialty Metals Resources SA, H.C. Starck, Wolfram Bergbau-und Hutten, Japan New Metals Company, Soloro, Wolfram Company JSC, and others. Integration is a major strategy used by market participants to strengthen their positions and to increase their profit margins.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: http://headlinenewsnation.com

This release was published on openPR.