Press release
Tungsten Market 2024 - Share, Ongoing Trends, Size, Growth Rate And Key Players
Tungsten Market
According to The Business Research Company's, The tungsten market size has grown rapidly in recent years. It will grow from $5.11 billion in 2023 to $5.66 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to increased industrial applications, global economic growth, automotive industry demand, increased military and defense applications, mining and drilling operations..
The tungsten market size is expected to see strong growth in the next few years. It will grow to $8.11 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to electrification of vehicles, biomedical applications, focus on critical minerals, infrastructure development, high-performance computing, recycling initiatives.. Major trends in the forecast period include technological innovations in tungsten processing, strategic stockpiling by end-users, advancements in tungsten carbid, international collaborations, green energy technologies..
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/tungsten-global-market-report
Market Drivers and Trends:
The rapid growth of the automotive sector is expected to propel the growth of the tungsten market going forward. The automotive industry refers to a sector involving various companies and organizations engaged in designing, developing, manufacturing, marketing, selling, repairing, and modifying motor vehicles. Tungsten alloys reduce weight in automotive components, radiation shielding, and durability, improving overall vehicle performance, including better handling, reduced noise and vibration, and increased engine efficiency. For instance, in April 2022, according to the Bureau of Transportation Statistics (BTS), a US-based agency that publishes information on transportation systems, new vehicle sales increased to 11,741 in 2021 from 11,041 in 2020. Therefore, the rapid growth of the automotive sector drives the tungsten market.
Major companies operating in the tungsten market are developing innovative tungsten powders, such as Starck2print powders, with 3D printing technology to drive revenues in the market. Starck2print powders are specialized materials designed to be used as feedstock materials in 3D printers that utilize powder bed fusion techniques, such as selective laser sintering (SLS) or selective laser melting (SLM). For instance, in March 2023, Masan High-Tech Materials, a Vietnam-based tungsten material manufacturing company, launched Starck2Print tungsten powders and accompanying innovation services for additive manufacturing, as popular as 3D printing. The Starck2Print powders are exceptionally well suited for additive manufacturing procedures such as powder bed-based laser beam melting (LPBF) or selective electron beam because of their high flowability and tailored particle size distribution.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=13164&type=smp
Major Key Players of the Market:
CMOC Group Ltd., Sandvik AB, Xiamen Tungsten Co. Ltd., Umicore N.V., IMC International Metalworking Companies B.V., Plansee SE, Kennametal Inc., China Tungsten & Hightech Materials Co. Ltd., Masan High-Tech Materials Corporation, Chongyi Zhangyuan Tungsten Co. Ltd, Global Tungsten & Powders Corp., Betek GmbH & Co. KG, Guangdong XiangLu Tungsten Co. Ltd., Treibacher Industrie AG, H.C. Starck GmbH, Nippon Tungsten Co. Ltd., A.L.M.T. Corp., Elmet Technologies LLC, T&D Materials Manufacturing LLC, Almonty Industries Inc., Wolf Minerals Limited, Woltech Korea Co. Ltd., Buffalo Tungsten Inc., WOLFRAM Company JSC, Federal Carbide Company, QuesTek Innovations LLC, Tungco Inc., Tungsten Heavy Powder Inc., Midwest Tungsten Service Inc., Tungsten West PLC
Tungsten Market 2024 Key Insights:
• The tungsten market is expected to grow to $8.11 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
• Booming Automotive Sector Fuels Growth In The Tungsten Market
• Innovative Tungsten Powders Transform Tungsten Applications Through 3D Printing
• Asia-Pacific was the largest region in the tungsten market in 2023. Europe is expected to be the fastest-growing region in the forecast period.
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=13164&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
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 Tungsten Market 2024 - Share, Ongoing Trends, Size, Growth Rate And Key Players here
News-ID: 3665914 • Views: …
More Releases from The Business research company
Analysis of Segments and Major Growth Areas in the Insurance Brokers and Agents …
The insurance brokers and agents sector is positioned for notable expansion as demand for intermediary services continues to grow. Driven by evolving healthcare challenges and economic shifts in emerging markets, this industry is adapting to new technological trends and strategic partnerships that promise to reshape its landscape in the coming years. Let's explore the market size, key players, emerging trends, and segmentation insights shaping this dynamic field.
Strong Market Growth Expected…
Emerging Growth Trends Driving Expansion in the RegTech Market
The regulatory technology (RegTech) sector is gaining significant traction as organizations seek more efficient ways to manage compliance and regulatory challenges. With digital transformation accelerating across industries, RegTech is positioned to play a pivotal role over the coming years. Let's explore the market's projected growth, key players, emerging trends, and vital segments shaping this dynamic industry.
Projected Expansion and Size of the RegTech Market
The RegTech market is set to…
Segmentation Analysis, Market Trends, and Competitive Landscape in the Insurance …
The insurance sector is poised for substantial growth over the coming years, driven by technological innovations and evolving risk landscapes. As digital transformation reshapes how insurance services are delivered, the industry is adapting to new challenges and opportunities that promise to redefine its future. Let's explore the market's growth projections, key players, emerging trends, and detailed segmentation.
Projected Expansion and Market Size of the Insurance Industry
The insurance market is…
Analysis of Segments and Major Growth Areas in the Money Transfer Services Marke …
The money transfer services sector is rapidly evolving, driven by technological advancements and changing consumer expectations. As global financial connectivity deepens, businesses and individuals alike are seeking faster, safer, and more convenient ways to send and receive money. This overview explores the market's size, key players, emerging trends, and segment dynamics shaping its future trajectory.
Projected Growth and Market Size of the Money Transfer Services Market
The money transfer services…
More Releases for Tungsten
Tungsten Market to Explosive Growth by 2028: Key Players Xiamen Tungsten, Chongy …
Market Study Report presents latest report on global Tungsten Market, which evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2022-2028.
Tungsten Market Size was estimated at USD 1050.7 million in 2021 and is projected to reach USD 1665.2 million by 2028, exhibiting a CAGR of 6.8% during…
Tungsten Trioxide Powder Market by Top Manufacturers - Xiamen Tungsten, Guangdon …
The Tungsten Trioxide Powder Market research report looks at the examples in the parent market, close by the standard factors and piece of the pie in different portions and sub-sections. The Tungsten Trioxide Powder Market report furthermore predicts the effect of different industry viewpoints accessible in market portions and geologies. The exploration report also distinguishes the market circumstance and impending difficulties of the overall market. It then analyzed competitive landscapes,…
Tungsten Metal Powder Market 2022 Global Outlook- Tungsten, Chongyi ZhangYuan Tu …
Global "Tungsten Metal Powder" Research Report presents a complete overview and comprehensive explanation of the industry. It is an analytical study that focuses on target groups of customers covering historical, current, and future market revenue and growth rate for both the demand and supply side. The research analyst details the value chain and its distributor analysis. The report provides conclusions and recommendations for a large range of industries and commercial…
Tungsten Metal Powder Market COVID 19 Overview: Demand Analysis & Growth Opportu …
The Market For Tungsten Metal Powder Market Is Expected to Reach Rise At A CAGR Of 5% During The Forecast Period.
The Tungsten Metal Powder Market 2022-2026 report presents the opportunities for the players. It also offers business models and market forecasts for the participants. This market analysis allows industry manufacturers with future market trends. The Study reports provides the information about the technological advancement, new product launches, new players and…
Tungsten Carbide Market Players Focus on Executing Business Expansion Activities …
Key advancements in the Tungsten Carbide Market, as well as organic and inorganic growth methods, are covered in the research. Acquisitions, as well as partnerships and engagements, were seen as inorganic growth tactics in the Tungsten Carbide market. These efforts have laid the groundwork for market participants to expand their business and client base. The research examines the variables influencing the Tungsten Carbide, as well as industry trends affecting the…
Global Blue Tungsten Oxide (BTO) Market 2019-2025 | Tejing Tungsten, H.C. Starck …
Researchmoz added Most up-to-date research on "Global Blue Tungsten Oxide (BTO) Market Insights,Forecast to 2025" to its huge collection of research reports.
Tungsten blue, as known as blue tungsten oxide, BTO, - tungsten oxide, hence the name as appearance of blue powder, with reducibility. Blue tungsten oxide refers to a class of dark blue compound with the mixed valence state of tungsten () and tungsten (V), it is the product of…
