Dublin, June 11, 2024 (GLOBE NEWSWIRE) -- The "Tungsten - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Tungsten is estimated at 126.2 Thousand Metric Tons in 2023 and is projected to reach 175.1 Thousand Metric Tons by 2030, growing at a CAGR of 4.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Hard Metals / Cement Carbides segment, which is expected to reach 98.9 Thousand Metric Tons by 2030 with a CAGR of 4.3%. The Steels, Superalloys, & Wear-resistant Alloys segment is also set to grow at 4% CAGR over the next 8 years.
- Regional Analysis: Gain insights into the U.S. market, estimated at 13.4 Thousand Metric Tons in 2023, and China, forecasted to grow at an impressive 4.8% CAGR to reach 105.8 Thousand Metric Tons by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Market Trends & Drivers:
- Unique Techno Functional Attributes to Maintain Tungsten's Relevance in a Gamut of Established & New Applications
- Tungsten Offers Significant Benefits in Developing Robotic Arms and Surgical Robots
- Drilling, Boring & Cutting Equipment: Key End-Use Segment
- Robust Opportunities for Tungsten Drilling, Boring & Cutting Equipment in Industrial Machine Tools Vertical
- Mining Sector to Further Leverage Exceptional Drilling & Boring Features of Tungsten Mining Tools
- Rise in Drilling Activity to Benefit Tungsten Demand
- Recovery in Automotive Industry to Present Growth Opportunities for Tungsten Automotive Parts
- Recent Surge in EV Sales to Bolster Tungsten Demand Globally
- Why New Tungsten Production Sources are Critical to Meet Surging EV Demand
- Encouraging Recovery of the Aerospace Industry to Spur Opportunities and Rising Focus on New & Efficient Aerospace Components to Fuel Future Demand for Tungsten
- Increased Military Tensions and Rise in Defense Spending to Boost Demand for Tungsten
- US Navy Explores New Approaches to Make Thoriated Tungsten Wire for Microwave Vacuum Tubes
- Tungsten to Gain from Critical Importance of Electrical & Electronic Systems in Consumer & Commercial Markets
- Tungsten as a Replacement for the Heavy & Poisonous Lead in High-Density Applications Augurs Well for Future Growth
- Tungsten Demand Likely to Perk Up in Chemical Industry
- Additive Manufacturing Makes Tungsten a Compelling Option to Create Prototypes
- 3D Printing Techniques for Tungsten & Tungsten Composites
- Advanced 3D Printing Technique to Improve Properties of High-Temperature Tungsten & Alloys
- Additive Manufacturing Steps In to Generate Novel Opportunities for Tungsten in Healthcare Sector
- Zirconiated Tungsten: Effective Option to Weld Metals with High Melting Point
- Tungsten Wire Market: Rising Demand from Downstream Market to Bolster Growth
- Cemented Tungsten Carbide Market Poised to Witness Strong Growth
Key Questions Answered:
- How is the Global Tungsten Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as A.L.M.T. Corp., Allegheny Technologies Inc., Almonty Industries Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors Featured:
- A.L.M.T. Corp.
- Allegheny Technologies Inc.
- Almonty Industries Inc.
- Betek
- Buffalo Tungsten
- China Molybdenum Co.
- Chongyi Zhangyuan Tungsten Co.
- H.C. Starck
- International Metalworking Companies (IMC)
- Kennametal
- Nippon Tungsten Co.
- Plansee Group
- Sandvik
- Umicore
- Xiamen Tungsten Co.
Key Topics Covered:
1. MARKET OVERVIEW
- Global Market Prospects & Outlook
- Established Image as a Rare Metal with Everyday Value to Sustain Long-Term Demand for Tungsten
- Tungsten Enjoys Spotlight as Crucial, Go-To Material for High-Tech Applications
- Global Economic Update
- Competitive Landscape
- Tungsten - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Processed Tungsten Market: Chinese Vendors Maintain Edge
- Vertical Integration: A Key Trend in the Global Tungsten Marketplace
- World Renowned Recognized Mining & Metal Companies Foray into Tungsten Mining Despite Chinese Domination
- Supply Concerns Highlights Pressing Need for New Tungsten Production Sources
- Tungsten: Product Overview
- Properties of Tungsten
- Ores/Minerals of Tungsten
- Mining, Refining and Processing of Tungsten
- Health & Environmental Aspects of Tungsten
- Substitutes to Tungsten
- Tungsten: A Historic Perspective
- Tungsten Pricing Scenario
- Ammonium Paratungstate (APT) Price Trends in $/MTU: 2019-2023E
- Analysis by Application Type
- Hardmetals/Cement Carbides: Largest Application Segment
- Tungsten Remains Highly Relevant in Steels, Superalloys, & Wear-Resistant Alloys
- Mill Products Emerge as Fastest Growing Application Segment
- China, Demonstrating Undisputed Dominance in the World Tungsten Industry, to Remain the Core Regional Market
- World Tungsten Production Scenario
- Global Tungsten Production (in Metric Tons) by Country for 2021 and 2022
- World Tungsten Reserves (in Metric Tons) by Country (2022)
- Major Tungsten Producing Countries Worldwide
- As a Vital Raw Material for the Connected Economy, Tungsten Supply Remains a Key Concern
- Vietnam Emerges as a Promising Country for Stable Tungsten Supply
- A Note on New & Upcoming Tungsten Mining Projects
- Select Development Stage Tungsten Mines
- Reopening of Sangdong Mines in South Korea Offers Hope of Reducing Over-Dependence on China for Supply of the Critical Mineral
- Emphasis on Tungsten Scrap Recycling Elevates Overall Production Volumes
- Global Tungsten Market by Source: Percentage Breakdown of Volume Shipments for Mined Tungsten and Recycled Tungsten for 2012, 2018 & 2022 (E)
- World Brands
- Recent Market Activity
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
- World Tungsten Market Analysis of Annual Sales in Metric Tons for Years 2014 through 2030
- World Recent Past, Current & Future Analysis for Tungsten by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2023 through 2030 and % CAGR
- World Historic Review for Tungsten by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2014 through 2022 and % CAGR
- World 16-Year Perspective for Tungsten by Geographic Region - Percentage Breakdown of Volume Consumption for Years 2014, 2024 & 2030
- World Recent Past, Current & Future Analysis for Hard Metals / Cement Carbides by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2023 through 2030 and % CAGR
- World Historic Review for Hard Metals / Cement Carbides by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2014 through 2022 and % CAGR
- World 16-Year Perspective for Hard Metals / Cement Carbides by Geographic Region - Percentage Breakdown of Volume Consumption for Years 2014, 2024 & 2030
- World Recent Past, Current & Future Analysis for Steels, Superalloys, & Wear-Resistant Alloys by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2023 through 2030 and % CAGR
- World Historic Review for Steels, Superalloys, & Wear-Resistant Alloys by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2014 through 2022 and % CAGR
- World 16-Year Perspective for Steels, Superalloys, & Wear-Resistant Alloys by Geographic Region - Percentage Breakdown of Volume Consumption for Years 2014, 2024 & 2030
- World Recent Past, Current & Future Analysis for Mill Products by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2023 through 2030 and % CAGR
- World Historic Review for Mill Products by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2014 through 2022 and % CAGR
- World 16-Year Perspective for Mill Products by Geographic Region - Percentage Breakdown of Volume Consumption for Years 2014, 2024 & 2030
- World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2023 through 2030 and % CAGR
- World Historic Review for Other Applications by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2014 through 2022 and % CAGR
- World 16-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Volume Consumption for Years 2014, 2024 & 2030
- World Recent Past, Current & Future Analysis for Drilling, Boring & Cutting Equipment by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2023 through 2030 and % CAGR
- World Historic Review for Drilling, Boring & Cutting Equipment by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2014 through 2022 and % CAGR
- World 16-Year Perspective for Drilling, Boring & Cutting Equipment by Geographic Region - Percentage Breakdown of Volume Consumption for Years 2014, 2024 & 2030
- World Recent Past, Current & Future Analysis for Automotive Parts by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2023 through 2030 and % CAGR
- World Historic Review for Automotive Parts by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2014 through 2022 and % CAGR
- World 16-Year Perspective for Automotive Parts by Geographic Region - Percentage Breakdown of Volume Consumption for Years 2014, 2024 & 2030
- World Recent Past, Current & Future Analysis for Aerospace Components by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2023 through 2030 and % CAGR
- World Historic Review for Aerospace Components by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2014 through 2022 and % CAGR
- World 16-Year Perspective for Aerospace Components by Geographic Region - Percentage Breakdown of Volume Consumption for Years 2014, 2024 & 2030
- World Recent Past, Current & Future Analysis for Logging Equipment by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2023 through 2030 and % CAGR
- World Historic Review for Logging Equipment by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2014 through 2022 and % CAGR
- World 16-Year Perspective for Logging Equipment by Geographic Region - Percentage Breakdown of Volume Consumption for Years 2014, 2024 & 2030
- World Recent Past, Current & Future Analysis for Electrical & Electronics Appliances by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2023 through 2030 and % CAGR
- World Historic Review for Electrical & Electronics Appliances by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2014 through 2022 and % CAGR
- World 16-Year Perspective for Electrical & Electronics Appliances by Geographic Region - Percentage Breakdown of Volume Consumption for Years 2014, 2024 & 2030
- World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2023 through 2030 and % CAGR
- World Historic Review for Other End-Uses by Geographic Region - Independent Analysis of Annual Consumption in Metric Tons for Years 2014 through 2022 and % CAGR
- World 16-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Volume Consumption for Years 2014, 2024 & 2030
For more information about this report visit https://www.researchandmarkets.com/r/i55kda
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