openPR Logo
Press release

Tungsten Market, Regional Outlook, Competitive Market Share & Forecast, 2016 – 2024

04-11-2017 11:19 AM CET | Tourism, Cars, Traffic

Press release from: Global Market Insights Inc.

Tungsten Market, Regional Outlook, Competitive Market Share &

Tungsten Market size is estimated to grow at a moderate rate of around 4% CAGR in the forecasted period and demand for processed tungsten forecasted to be more than 120,000 metric tons by 2024.

Improved economic conditions in countries and increasing purchasing power of people will be a major driver for the tungsten market during the forecast years because of extensive use of the product in automobile manufacturing.

Passenger car demand is likely to rise above 1600 million units and heavy and medium weight vehicle demand above 150 million units by 2020. Demand for replacement parts for automobile will also increase in the coming years.

Global air traffic will grow by more than 4% annually over the next 20 years requiring more than 30,000 new passenger aircrafts at a value of almost USD 4.5 trillion. Increasing air passenger movement worldwide and use of aircrafts for transporting high value cargo in a short time will be a major driver for the tungsten market. Also, global expenditure in the defense sector was roughly around USD 1.5 trillion which will increase to around USD 3 trillion by 2025. Increased spending in defense aircraft manufacturing and missile technology by countries like China, Russia and India will augment the tungsten market.

Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/1249

By application, the tungsten market is segmented into four major categories viz. cemented carbides, alloys, mill products and chemicals. Cemented carbides will account for significant share in the market in coming years because of its extensive use as cutting tools and inserts whereas tungsten alloys will witness the fastest growth among all major products owing to its use in aerospace industry. Mill products category will also witness steady growth due to its many electrical and electronic applications such as lead-in wires, electrical contacts and electron emitters.

The global tungsten market is divided into five regions – north America, Asia pacific, Europe, Middle east and Africa and Latin America. Asia pacific will dominate the tungsten market in the forecast period with China leading both in terms of consumption and supply owing to its vast reserves and government policies which favors the production of high value tungsten products.

Browse complete summary of this report @ https://www.gminsights.com/industry-analysis/tungsten-market

Due to increased construction spending in North America, the region will contribute positively to the tungsten market. Europe will also continue to be a significant contributor to the market because of its expanding automobiles industry. Latin America will witness a more than average growth because of its rising durable goods sector. Although middle east and Africa has a minimal contribution to the tungsten market, it will have better prospects in the coming years owing to its improving economic condition and growing manufacturing capacities.

Major players in the tungsten market are - Buffalo Tungsten, Nippon Tungsten, Federal Carbide, NAECO, Kennametal, Sumitomo Electric Industries, Toonney Alloy. Hemerdon project in the UK by Wolfminerals, Ormonde's Barruecopardo project in Spain and Molyhil project in Australia by Thor Mining are some of the non-Chinese projects that could enter production in the forecast period.

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.

29L Atlantic Avenue, Suite L 105

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, Regional Outlook, Competitive Market Share & Forecast, 2016 – 2024 here

News-ID: 498472 • Views: 429

More Releases from Global Market Insights Inc.

Steam Autoclaves Market | Insights and Forecast Research Report 2024
The steam autoclave market size is expected to exceed more than US$ 3.1 Billion by 2024, Growing at a CAGR of more than 8.7% in the given forecast period. The extensive use of sterilizing surgical equipment in pharmaceutical and biomedical applications has been propelling steam autoclaves market share over the last few years. The primary reason for the massive deployment of these products in medical applications is the nontoxic and
Advanced Wound Care Market 2019 | Growth, Status and Forecast by 2025
The global advanced wound care market size is expected to reach USD 13.5 billion by 2025, at a CAGR of 5.0% during the forecast period, according to a new report by Global market insights, Inc. Europe advanced wound care market will experience 5.0% growth during the analysis period. Germany, UK, and France represents mature markets in Europe while Spain, Netherland, Belgium, Austria are forecasted to witness high CAGR. Aging demographics
Vascular Graft Market | Industry Analysis, Size, Share, Growth by 2024
Vascular graft market size is anticipated to exceed US$ 3.6 bn by 2024, states Global Market Insights, Inc. in its latest research report. Prominent industries involved in vascular graft market are Becton Dickinson (C.R. Bard), B. Braun, Cryolife (Jotec), Cook Medical, Endologix, Getinge AB, LeMaitre Vascular, Medtronic PLC, Terumo GmbH and W.L. Gore and Associates. These prominent business players are focusing on strategic mergers, new product launch and acquisitions to
Pharmacovigilance Outsourcing Market 2019 | Dynamics, Forecast, Analysis and Sup …
U.S. pharmacovigilance outsourcing market size dominated North America region and was valued at USD 783.2 million revenue in 2017 and is estimated to witness similar trend during the forthcoming years. The high growth is attributed to strong foothold of major pharma and medical device companies coupled with extensive drug development activities in the U.S. Moreover, high healthcare expenditure in the country and growing concern regarding drug safety and adverse drug

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 WiseGuyReports.com 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 : https://www.reportsandmarkets.com/reports/united-states-tungsten-rings-market-report-2017-1564018 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