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North America Tungsten Market to see 7% CAGR till 2025, Key Players are H.C. Starck, Global Tungsten & Powders Corporation, Wolfram Industrie, New Metals

Tungsten Market

Tungsten Market

Elaborating on the opportunities for the tungsten industry, 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 aircraft.

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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 Industrie
12. Global Tungsten & Powders Corporation
13. Chongyi Zhangyuan Tungsten Co., Ltd.
14. China Minmetals Rare Earth Co., Ltd.
15. Xiamen Tungsten Co., Ltd.

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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The major players operating in the worldwide tungsten market include Xiamen Tungsten Co. Ltd., China Minmetals Corporation, Chongyi ZhangYuan Tungsten Co. Ltd., Global Tungsten & Powders Corporation, Wolfram Bergbau-und Hutten AG, H.C. Starck GmbH, Guangdong Xianglu Tungsten Co. Ltd., Japan New Metals Co. Ltd., Soloro S.L.U., Specialty Metals Resources SA, Wolfram Company JSC, W Resource PLC, King Island Scheelite, Ltd., Tungsten Mining NL, and Tejing (Vietnam) Tungsten Co. Ltd.

The worldwide tungsten market is poised to accumulate hefty proceeds in the years ahead, owing to the product's commendable application potential across a vast array of industries including automotive, aerospace, mining, defense, metal working and oil & gas, among others.

Tungsten Market report is inclusive of a definite aggressive standpoint that explains a summary of the entire industry and profiles of the major companies in the worldwide market. The tungsten industry report also provides a detailed diagram of the innovations, production analysis, product specification, and product type, taking into consideration, factors such as costs, remuneration, and gross margins.

A report by Global Market Insights, Inc. projects that the worldwide tungsten market share is set to cross $8.5 billion over 2025. Tungsten is widely used in the production of various alloys such as high-speed steel, tool steel, etc. as well as for carbides fabrication, which are often used in several high temperature and high strength-based applications like drill bits and cutting tools.

Personal Care Ingredients Market Size:
https://www.globenewswire.com/news-release/2017/06/28/1029863/0/en/Personal-Care-Ingredients-Market-will-surpass-12bn-by-2024-Global-Market-Insights-Inc.html

Bitumen Market Size: https://www.prnewswire.com/news-releases/bitumen-market-value-to-hit-116-billion-by-2026-global-market-insights-inc-300967401.html

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

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.

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