Refractory Metals Market Industry Analysis, Size, Share, Growth, Trends, and Forecast 2029

Market Overview
The Refractory Metals Market is expected to grow at a CAGR of 1.8% during the forecasting period (2022-2029).

Refractory metals have distinctive properties and are widely used because of their unique and desirable properties, such as their resistance to corrosion and their exceptional resistance to wear and heat. On account of the property of the above state, these metals are mostly used in the fields of engineering, science, and metallurgy and the most prominent metals are Molybdenum (Mo), Rhenium, Niobium, Tungsten, and Tantalum.

Download Free Sample: https://www.datamintelligence.com/download-sample/refractory-metals-market

Market Dynamics:
The environmental impact of refractory metals is expected to restrain the global market:

Over the forecast period, the environmental impact of refractory metals is expected to prevent the growth of the global market. The production and application of molybdenum compounds as corrosion inhibitors and flame retardants may release them into the environment through various waste streams. Molybdenum in the air uses small dust particles that settle on the ground and might pollute the water bodies when it rains. Additionally, refractory metals, such as Rhenium and Tantalum, are treated as environmentally unfriendly due to their higher potential for contributing to global warming, higher cumulative energy demand, and higher levels of terrestrial acidification properties.

An increase in global mining activities is expected to generate new opportunities for the global market:

The mining sector has been experiencing rapid expansion, especially in emerging regions, due to the growing industry demand for metals and minerals. Refractory metals are used in the mining industry in excavation and drilling tools. Therefore, the increase in global mining activities is expected to create new opportunities for the global refractory metals market during the forecast period.

View Full Report: https://www.datamintelligence.com/research-report/refractory-metals-market

Market Segmentation:
By Material Type
• Tungsten
• Molybdenum
• Niobium
• Tantalum
By Application
• Electronics
• Nuclear Power Generation
• Aerospace
• Manufacturing

Major Companies:
Advanced Metallurgical Group, N.V, Rember Corporation, Codelco, Global Tungsten & Powders Corp., Ningxia Orient Tantalum Industry, Rhenium Alloys, Inc, Molynet, Xiamen Tungsten Co Ltd.

Trending Topics
https://www.datamintelligence.com/research-report/rare-earth-metals-market
https://www.datamintelligence.com/research-report/precious-metal-catalysts-market
https://www.datamintelligence.com/research-report/nano-metal-oxides-market

DataM Intelligence 4market Research LLP
Ground floor, DSL Abacus IT Park,
Industrial Development Area, Uppal,
Hyderabad, Telangana 500039

DataM Intelligence 4Market Research is a market intelligence platform that gives access to syndicated, customized reports and consulting to its clients in one place. As a firm with rich experience in research and consulting across multiple domains, we are a one-stop solution that will cater to the needs of clients in key business areas. DataM Intelligence has an online platform whose coverage includes industries such as chemicals and materials, agriculture, health care services, animal feed, and food & beverages, among others. Our platform has Insights on markets that uncover the latest market research data that are distinct from the competition. With coverage across 10 major industries in the marketplace research, DataM Intelligence benefits thousands of companies by helping them take their innovations early to the market by providing a complete view of the market with statistical forecasts. Our strategy-centric framework and value-added services will let individuals and corporates ease access and custom personalization to research and markets.

This release was published on openPR.