Rapid Industrialization to Boost Tungsten Oxide Market Growth by 2016-2023

Tungsten Oxide Market: Overview

Tungsten has several oxidation states and oxides. Each tungsten oxide has a specific characteristic and feature. Tungsten (III) oxide is grown as a thin film by atomic layer deposition at temperatures ranging from 130 to 250 degree Celsius using a precursor compound. Tungsten (IV) dioxide is a bronze-colored solid with chemical formula WO2. The compound crystallizes in a monoclinic cell. Tungsten dioxide structure incorporates distorted octahedral trioxide tungsten centers with alternate short bonds.

Each Tungsten (IV) dioxide center has the d2 configuration, which provides the material a superior electrical conductivity. Tungsten dioxide is manufactured by reduction of tungsten trioxide with tungsten powder over the course of several hours at a very high temperature. Tungsten (VI) oxide, which is also referred to as tungsten anhydride or tungsten trioxide, is a compound contacting transition metal tungsten and oxygen. The material is obtained in the form of an intermediate during processes applied for recovering tungsten from its minerals. Tungsten ores are typically further treated with alkalis in order to obtain tungsten trioxide. If required, a further reaction with hydrogen or carbon gas is carried out so as to get the pure metal from tungsten trioxide. Tungsten pent oxide, also called mineral blue, is a blue solid formed by the reaction of tungsten trioxide and tungsten metal at 700 degree Celsius.

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Tungsten Oxide Market: Emerging Applications and Drivers

Tungsten oxide has several everyday uses. It is used in the manufacture of tungstates for fireproofing fabrics, for x-ray screen phosphors, and in gas sensors. Tungsten trioxide is also used as a pigment in coatings, paints, and ceramics due to its rich yellow color. In addition, tungsten trioxide has also proven useful in the production of smart windows or electro chromic windows. Smart windows are essentially electrically switchable glass that can alter its light transmission properties when a certain voltage is applied. This allows the user to obtain the desired level of tint on their windows by deciding how much light they want passing through.

The growth in end user industries is expected to increase consumption of tungsten oxide. The growth in medical and firefighting industry is set to drive the tungsten oxide market. In addition, rising consumption of semi-conducting compounds in emerging economies of Asia Pacific and Latin America is expected to boost demand for tungsten oxide. However, availability of substitutes and fluctuating raw material prices could hamper the growth of the market.

Tungsten Oxide Market: Regional Dynamics

Growth in tungsten oxide demand is expected to be led by the Asia Pacific market, particularly China which accounted for majority of consumption in 2013. Major manufacturers of tungsten compounds are relocating their production facilities to China due to availability of cheap labor, infrastructure and attractive government policies. Republic of Korea, India, Vietnam, Malaysia, Cambodia, Australia, New Zealand and Sri Lanka are other major consumers of tungsten oxide in Asia Pacific. North America and Europe are mature markets and expected to experience moderate growth.

Tungsten Oxide Market: Competitive Overview

The tungsten oxide market is dominated by large and medium corporations. Some of the key players in the market are The Metal Powder Company Limited (India), Triveni Chemicals (India), Intelligent Materials Pvt. Ltd (India), Kurt J. Lesker Company (North Ameria), Wolf Minerals Ltd (Australia), Ormonde Mining plc (Ireland), Midwest Tungsten Service (U.S.), Chengdu Huarui Industrial Materials Co., Ltd. (China) and Ganxian Shirui New Material Co., Ltd. (China) among others.

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Companies are using strategic acquisitions and mergers to remain competitive market. In addition, companies are developing new and innovative tungsten oxide products to increase their market share. Furthermore, companies are expanding their presence in emerging economies of Asia Pacific due to presence of large number of end user industries.

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This release was published on openPR.