Press release
Tungsten Market to reach USD 8.81 Bn by 2029, emerging at a CAGR of 8.0 percent and forecast (2023-2029)
Tungsten Market
Tungsten Market Report Scope and Research Methodology
The report aims to provide a clear futuristic view of the industry to the decision-makers by analyzing the market segments and projecting the Global Tungsten Market size. The report also presents a Porter's five forces analysis and a PESTEL analysis with the potential impact of micro-economic factors on the market.
The report uses a research methodology based on real output, demand and supply of 2021, and past data from 2017 to 2021, with the impact of the global lockdown on the market in 2021 and 2022. The report also includes a comprehensive analysis of key players, including market leaders, followers, and new entrants, with a dedicated study of their product portfolio, financial position, growth strategies, and regional presence in the Global Tungsten Market.
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Tungsten Market Dynamics
Tungsten is a heavy metal used in electronic and electrical components such as electron emitters, lead-in wires, and electrical contacts, as well as in cutting tools, drill bits, and wear-resistant coatings. The growing end-use industries such as automotive, aerospace, and electrical and electronics, coupled with the increase in demand for wear-resistant materials, are expected to drive the global tungsten market.
Based on the application, the market is segmented into tungsten carbide, metal alloys, and mill products, with tungsten carbide expected to hold the largest market shares by 2029. The market is further segmented based on the end-use into automotive parts, aerospace components, drilling, boring & cutting equipment, logging equipment, and electrical & electronics appliances, with the automotive parts segment expected to grow rapidly at a CAGR of 8.0% during the forecast period.
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Tungsten Market Regional Insights
Asia Pacific dominates the global tungsten market during the forecast period, with China being the leader in the supply and consumption of tungsten due to its vast tungsten reserves and support of the Chinese government to the tungsten product industries.
Tungsten Market Segmentation
By Type:
•Tungsten Carbide
•Metal Alloys
•Mill Products
•Permanent Magnets
•Nanowires
By Application:
• Automotive Parts
• Aerospace Components
• Drilling
• Boring & Cutting Equipment
• Logging Equipment
• Electrical & Electronics Appliances
• Metalworking, Mining, and Petroleum
• Military
• Others
By Form:
• Foils
• Ribbons
• Wires
• Tubes
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Tungsten Market Key Competitors include:
• A.L.M.T. Corp.
• Allegheny Technologies Incorporated
• Almonty Industries Inc.
• Betek GmbH & Co. KG
• Buffalo Tungsten Inc.
• China Minmetals Non-Ferrous Metals Co., Ltd.
• China Molybdenum Co., Ltd.
• Chongyi Zhangyuan Tungsten Co., Ltd
• Guangdong XiangLu Tungsten Co. Ltd.
• H.C. Starck GmbH
• International Metalworking Companies
• Jiangxi Tungsten Holding Group Co., Ltd.
• Kennametal, Inc.
• Nippon Tungsten Co., Ltd.
• Ormonde Mining plc
• Plansee Group
• QuesTek Innovations, LLC
• Sandvik Group
• Umicore N.V.
• Wolf Minerals Limited
• WOLFRAM Company JSC
• Xiamen Tungsten Co., Ltd.
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Table of Content for Tungsten Market:
Global Tungsten Market: Research Methodology
Global Tungsten Market: Executive Summary
Market Overview and Definitions
Introduction to Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Tungsten Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Tungsten Market Segmentation
Global Market, by Type (2021-2029)
Global Market, by Application (2021-2029)
Global Market, by Form (2021-2029)
Regional Tungsten Market (2021-2029)
Regional Market, by Type (2021-2029)
Regional Market, by Application (2021-2029)
Regional Market, by Form (2021-2029)
Regional Market, by Country (2021-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
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Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Type, Application and Form
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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