openPR Logo
Press release

What's Driving The Tungsten Market Size? | Top key players Tungsten Mining NL, H.C. Starck, King Island Scheelite Limited, W Resources Plc, Specialty Metals Resources, Global Tungsten & Powders Corporation, Chongyi Zha

06-14-2019 06:47 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Tungsten Market

Tungsten Market

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.

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.

Request for a sample copy of this research report @

Owing to continuous demand from users across a wide application spectrum, the global tungsten market has proliferated from the critical properties of the metal, like resistance to corrosion and wear as well as flexibility. The metal is quite important in the production of stellites, superalloys and heavy metal alloys which are used to make components of automobiles, aircrafts, gamma and X-ray machines, golf clubs, darts and many others. Rising consumer spending on vehicles, travel and leisure activities along with healthcare services will inadvertently bolster demand for the tungsten industry. Factors like globally increasing consumption of steel and augmented production of aircrafts will drive the expansion of the tungsten market.

Growth drivers

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

Technically, several key areas in an aircraft require the placement of additional weight precisely for providing vibration dampening in various forms, such as static and dynamic balancing of propellers and rotor blades, and also as ballast. The tungsten industry has been a major benefactor of the exponential development in aerospace segment, with tungsten heavy alloys ideally suited for applications in all kinds of aircraft, from small planes and larger jets to helicopters. Though the quality of tungsten metal and its alloys being supplied to the aviation companies is concern, suppliers have put more focus to ensure that manufacturers receive the top quality material, notably evolving the global tungsten market.

Components used in the aviation sector are commonly subjected to considerable wear and friction, high temperatures ant must be durable for lowering the time and money spent in aircraft maintenance. As such, tungsten used in manufacturing parts offer the necessary reliability to a plane and enhance control abilities for a pilot, propagating the critical nature of the tungsten market. Indicating a significantly positive outlook for the aviation sector, Airbus had revealed in a forecast report that over the next 20 years, there would be requirement of over 37,400 new freight and passenger aircrafts.

Valued at nearly US$5.8 trillion, these aircrafts represent a worldwide growth of the travel and tourism industry, as well as lucrative prospects for the tungsten market and other ancillary segments. The same report has informed that despite any external factors affecting the aerospace segment, air traffic has grown over the last two decades and is expected to almost double over the next 15 or so years. Global GDP is considered to be a prominent indicator expanding the growth of aviation and it is predicted that 50% of the air traffic increase will instigate in Asia-Pacific, while U.S. and Europe will together account for 30% of the increase.

Make an inquiry for buying this report @

Elaborating on the opportunities for the tungsten market, there will be accelerated efforts to replace older planes to improve the efficiency of fleets and comply with the stringent passenger safety standards. It is noted that out of the total new aircrafts required by 2037, almost 30% would be for the replacement of aging fleet. With aircraft needed to be upgraded in both commercial and defense segments, the need for new and recycled tungsten alloys will propel the overall industry revenues in the next few years. For instance, major airplane manufacturer Boeing had recently secured a US$9.2 contract from the U.S. Air Force to deliver its next fleet of combat training aircrafts.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Tejing (Vietnam) Tungsten Co., Ltd.
2. Tungsten Mining NL
3. King Island Scheelite Limited
4. W Resources Plc
5. Wolfram Company JSC
6. Specialty Metals Resources
7. Soloro S.L.U.
8. Japan New Metals Co., Ltd.
9. Guangdong Xianglu Tungsten Co., Ltd.
10. H.C. Starck
11. Wolfram Bergbau-und Hutten AG
12. Global Tungsten & Powders Corporation
13. Chongyi Zhangyuan Tungsten Co., Ltd.
14. China Minmetals Rare Earth Co., Ltd.
15. Xiamen Tungsten Co., Ltd.

Speaking further to demonstrate the rising demand for aircrafts, in November 2018 Boeing had entered into an agreement to sell around 300 planes to China, which would be worth US$37 billion, with a large number of these aimed at fleet growth. Similar contracts being inked between aviation companies and aircraft manufacturers across the globe will yield tremendous returns for the tungsten market. Tightening international standards, in addition to increased scrutiny of aircraft performance and quality of components will influence the development of the tungsten industry.

Browse Full Report :

All in all, the augmenting demand for aircrafts, along with the continuous application of tungsten alloys in the automotive segment will boost the valuation of the tungsten market, anticipated to surpass US$8.5 billion by 2025. The competitive hierarchy of the industry is comprised of key suppliers like China Minmetals Corporation, H.C. Starck, Japan New Metals Company, Wolfram Company JSC, Wolfram Bergbau-und Hutten and Specialty Metals Resources SA.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

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.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release What's Driving The Tungsten Market Size? | Top key players Tungsten Mining NL, H.C. Starck, King Island Scheelite Limited, W Resources Plc, Specialty Metals Resources, Global Tungsten & Powders Corporation, Chongyi Zha here

News-ID: 1775195 • Views: 166

More Releases from Global Market Insights

Compressed air treatment equipment market to witness remarkable proceeds over 20 …
Global Market Insights has recently added a report on Compressed Air Treatment Equipment Market Share 2019-2024 which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere. Atlas Copco, the Swedish giant, that is
$ 6 BN | Plastic Fencing Market 2019-24 Revenue Forecast By Regional Players
According to Global Market Insights, Plastic Fencing Market research report provides a comprehensive analysis of the Plastic Fencing Market segments, including their dynamics, size, growth, regulatory requirements, technological trends, competitive landscape, and emerging opportunities of global industry. North America plastic fencing market share accounted for 30% of global market share in 2016. Increasing infrastructure spending in private as well as public construction will drive the regional market growth.
Liquid Silicone Rubber Market to accrue lucrative gains over the forecast timefr …
North America led by the U.S and Canada is the largest liquid silicone rubber market owing to positive indicator in healthcare industry and growing demand for disposable medical devices, implants and equipment propelling regional industry growth. As of 2015, 15% of total population in the U.S. is aged above 65 and needs medical attention hence would impact positively on LSR market size. Liquid Silicone Rubber Market size is may experience significant
Bullet Resistance Glass Market to phenomenally drive the global landscape over 2 …
North America, led by the U.S. has significant share in global bullet resistance glass market attributing to increased crime rate and flourishing defence industry. Defence industry is anticipated to grow around 3.2 % in next five years with an aim to strengthen US military. Europe led by Germany has substantial share owing to well established automobile industry hosting big players such as Audi and Volkswagen. Based on application, bullet resistance glass

All 5 Releases

More Releases for Tungsten

Tungsten Products Market Astonishing Growth| Midwest Tungsten Service, ITIA, Elm …
The latest release from HTF MI highlights the key market trends impacting the growth of the Global Tungsten Products market. The study highlights influencing factors that are impacting or reinforcing market environment such as Government Policy, technological changes etc along with key market drivers. The research study forecast Revenue Opportunities and Sales Volume Area taken into consideration the primaries from industry experts and includes relevant data such as (revenue, market
Global Tungsten Market 2018 - A.L.M.T, Allegheny Technologies, Betek, Buffalo Tu …
Eminent Market, recently published a detailed market research study focused on the “Tungsten Market” across the global, regional and country level. The report provides 360° analysis of “Tungsten Market” from view of manufacturers, regions, product types and end industries. Strong growth in tungsten market is driven by the surging demand for downstream tungsten products in varied end-user sectors including automotive, industrial engineering, energy, and aviation. The Asia/Pacific region, led by China,
Tungsten Market 2018 Global Analysis By Key Players – Buffalo Tungsten, Nippon …
Summary adds “Tungsten Market 2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database. This report provides in depth study of “Tungsten Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Tungsten Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product
Tungsten Rings Market Report 2017
Browse the full report with a table of contents : In this report, the United States Tungsten Rings market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this report splits the United States market into seven regions: The West Southwest The Middle Atlantic New England The South The Midwest with sales (volume), revenue
Global Tungsten Powder Sales Market 2017 Region by top Players - Longxintai Tung …
The market research report on Global Tungsten Powder Market is an in-depth study and analysis of the market by our industry experts with unparalleled domain knowledge. The report will shed light on many critical points and trends of the industry which are useful for our esteemed clients. The report covers a vast expanse of information including an overview, comprehensive analysis, definitions and classifications, applications and expert opinions, among others. Click Here
Global Tungsten Carbide Powder (WC) Market 2017 - Xiamen Tungsten, China Minmeta …
Tungsten Carbide Powder (WC) Industry including (both global and regions) Market Size (both volume – Unit and value – million USD), Market Share, Production data, Consumption data, Trade data, Price – USD/Unit, Cost, Gross margin, Analysis, Forecast etc. The report on the Tungsten Carbide Powder (WC) market offers a broad overview of the dynamics at play on both the buy side and sell side. In order to deepen readers’ understanding of