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Mar 29, 2023 (The Expresswire) --The latest research study on “Tungsten Market” 2023 with 118 + pages of analysis on business strategy taken up byemerging industry players, geographical scope, market segments, product landscape and price, and cost structure
Global Tungsten MarketInsightReport2023 provides an overview of global market for Tungsten, sales, revenue and price, financial status, key developments, latest trends, market size and share. This report covers company profiles, product details, price, key insights on the current scenario and future growth prospects of the global Tungsten market. This report is segmented the Tungsten market in terms of product types, end users, geographical regions and countries, forecasting revenues, and market share, as well as analysis of latest trends. Tungsten market report also, does an analysis of the top competitors strengths, opportunities, and threats.
Final Report will add an analysis of the impact of the Russia-Ukraine War and COVID-19 on the "Tungsten" industry.
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About Tungsten Market Upcoming Growth:
Tungsten (CAS 7440-33-7) is very stable element, as pure metal, tungsten has not only the highest melting point of all metals (3,422 °C) and the lowest degree of thermal expansion, but it is also very dense (19.3 g/cm³), has a high degree of mechanical strength and rigidity and very low vapor pressure. Meanwhile, it has excellent corrosion resistance, thermal conductivity and electric conductivity.
Market Analysis and Insights: Global Tungsten Market
Due to the COVID-19 pandemic, the global Tungsten market size is estimated to be worth USD 1207.3 million in 2022 and is forecast to a readjusted size of USD 1791.5 million by 2028 with a CAGR of 6.8% during the review period. Fully considering the economic change by this health crisis, Up to 1μm accounting for of the Tungsten global market in 2021, is projected to value USD million by 2028, growing at a revised CAGR in the post-COVID-19 period. While Cemented Carbide segment is altered to an CAGR throughout this forecast period.
China is the largest Tungsten (CAS 7440-33-7) market with about 62% market share. North America is follower, accounting for about 13% market share.
The key players are Xiamen Tungsten, Chongyi ZhangYuan Tungsten, GuangDong XiangLu Tungsten, Global Tungsten and Powders, China Tungsten and Hightech, JXTC, Japan New Metals, Jiangxi Yaosheng Tungsten, China Molybdenum, Ganzhou Haichuang Tungsten, Kennametal, A.L.M.T. Corp, Ganzhou Yatai Tungsten, Wolfram Company JSC, Treibacher Industrie, H.C. Starck, TaeguTec Ltd, Eurotungstene (Umicore), Buffalo Tungsten etc. Top 3 companies occupied about 40% market share.
In terms of production side, this report researches the Tungsten capacity, production, growth rate, market share by manufacturers and by region (region level and country level), from 2017 to 2022, and forecast to 2028.
In terms of sales side, this report focuses on the sales of Tungsten by region (region level and country level), by company, by Type and by Application. from 2017 to 2022 and forecast to 2028.
Global Tungsten Scope and Segment
Tungsten market is segmented by Type and by Application. Players, stakeholders, and other participants in the global Tungsten market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2017-2028.
Frequently Asked Questions:
âWhat are the recent trends of the global Tungsten market?
â What is the main driving factor for the growth of the global Tungsten market?
â What are the restraining factors of the market?
â Who are the key market players?
â Which region holds the biggest market share?
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Here is List of Top Key-players in Tungsten Market 2023 are:
● Xiamen Tungsten
● Chongyi ZhangYuan Tungsten
● GuangDong XiangLu Tungsten
● Global Tungsten and Powders
● China Tungsten and Hightech
● JXTC
● Japan New Metals
● Jiangxi Yaosheng Tungsten
● China Molybdenum
● Ganzhou Haichuang Tungsten
● Kennametal
● A.L.M.T. Corp
● Ganzhou Yatai Tungsten
● Wolfram Company JSC
● Treibacher Industrie
● H.C. Starck
● TaeguTec Ltd
● Eurotungstene (Umicore)
● Buffalo Tungsten
Tungsten market 2023 is segmented by Applications:
● Cemented Carbide
● Tungsten Mill Products
● Steel and Alloy
● Others
Tungsten market 2023 is segmented by Types:
● Up to 1μm
● 1-10μm
● 10-50μm
● Others
Customization of the Report
Our research analysts will help you to get customized details for your report, which can be modified in terms of a specific region, application or any statistical details. In addition, we are always willing to comply with the study, which triangulated with your own data to make the market research more comprehensive in your perspective.
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The report covers extensive competitive intelligence which includes the following data points:
â Business Overview
â Business Model
â Financial Data
â Financial Existing
â Financial Funding
â Product/Service Segment Analysis and specification
â Recent Development and Company Strategy Analysis
â SWOT Analysis
Global Tungsten Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. By Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Global Tungsten Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
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Reasons to Purchase this Report: -
● This report helps stakeholders to identify some of the crucial players in the request and understand their precious donation.
● This report will help the compendiums to understand the competition within the diligence and strategies for the competitive terrain to enhance the implicit profit.
● This report will help stakeholders to understand the global assiduity status and trends of Tungsten and provides them with information on crucial request motorists, conditions, challenges, and openings.
● This report will help stakeholders to understand challengers better and gain further perceptivity to strengthen their position in their businesses.
● The competitive geography section includes the request share and rank (in volume and value), contender ecosystem, new product development, expansion, and accession.
● This report stays streamlined with new technology integration, features, and the rearmost developments in the request
● This report helps stakeholders to understand the COVID- 19 and Russia- Ukraine War Influence on the Tungsten assiduity.
● This report helps stakeholders to gain perceptivity into which regions to target encyclopaedically
● This report helps stakeholders to gain perceptivity into the end- stoner perception concerning the relinquishment of Tungsten.
Detailed TOC of Global Tungsten Market Research Report 2023
1 Tungsten Market Overview
1.1 Product Overview and Scope of Tungsten
1.2 Tungsten Segment by Type
1.2.1 Global Tungsten Market Size Growth Rate Analysis by Type 2022 VS 2028
1.3 Tungsten Segment by Application
1.3.1 Global Tungsten Consumption Comparison by Application: 2017 VS 2022 VS 2028
1.4 Global Market Growth Prospects
1.4.1 Global Tungsten Revenue Estimates and Forecasts (2017-2028)
1.4.2 Global Tungsten Production Capacity Estimates and Forecasts (2017-2028)
1.4.3 Global Tungsten Production Estimates and Forecasts (2017-2028)
1.5 Global Tungsten Market by Region
1.5.1 Global Tungsten Market Size Estimates and Forecasts by Region: 2017 VS 2022 VS 2028
1.5.2 North America Estimates and Forecasts (2017-2028)
1.5.3 Europe Estimates and Forecasts (2017-2028)
1.5.5 China Estimates and Forecasts (2017-2028)
1.5.5 Japan Estimates and Forecasts (2017-2028)
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2 Market Competition by Manufacturers
2.1 Global Tungsten Production Capacity Market Share by Manufacturers (2017-2022)
2.2 Global Tungsten Revenue Market Share by Manufacturers (2017-2022)
2.3 Tungsten Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.4 Global Tungsten Average Price by Manufacturers (2017-2022)
2.5 Manufacturers Tungsten Production Sites, Area Served, Product Types
2.6 Market Competitive Situation and Trends
2.6.1 Market Concentration Rate
2.6.2 Global 5 and 10 Largest Tungsten Players Market Share by Revenue
2.6.3 Mergers and Acquisitions, Expansion
3 Production and Capacity by Region
3.1 Global Production Capacity of Market Share by Region (2017-2022)
3.2 Global Revenue Market Share by Region (2017-2022)
3.3 Global Production, Revenue, Price and Gross Margin (2017-2022)
3.4 North America Tungsten Production
3.4.1 North America Tungsten Production Growth Rate (2017-2022)
3.4.2 North America Tungsten Production Capacity, Revenue, Price and Gross Margin (2017-2022)
3.5 Europe Tungsten Production
3.5.1 Europe Production Growth Rate (2017-2022)
3.5.2 Europe Production Capacity, Revenue, Price and Gross Margin (2017-2022)
3.6 China Production
3.6.1 China Production Growth Rate (2017-2022)
3.6.2 China Production Capacity, Revenue, Price and Gross Margin (2017-2022)
3.7 Japan Production
3.7.1 Japan Production Growth Rate (2017-2022)
3.7.2 Japan Production, Revenue, Price and Gross Margin (2017-2022)
4 Global Tungsten Consumption by Region
4.1 Global Tungsten Consumption by Region
4.1.1 Global Consumption by Region
4.1.2 Global Consumption Market Share by Region
4.2 North America
4.2.1 North America Consumption by Country
4.2.2 U.S.
4.2.3 Canada
4.3 Europe
4.3.1 Europe Consumption by Country
4.3.2 Germany
4.3.3 France
4.3.4 U.K.
4.3.5 Italy
4.3.6 Russia
4.4 Asia Pacific
4.4.1 Asia Pacific Consumption by Region
4.4.2 China
4.4.3 Japan
4.4.4 South Korea
4.4.5 Taiwan
4.4.6 Southeast Asia
4.4.7 India
4.4.8 Australia
4.5 Latin America
4.5.1 Latin America Consumption by Country
4.5.2 Mexico
4.5.3 Brazil
5 Productions, Revenue, Price Trend by Type
5.1 Global Tungsten Production Market Share by Type (2017-2022)
5.2 Global Tungsten Revenue Market Share by Type (2017-2022)
5.3 Global Tungsten Price by Type (2017-2022)
6 Consumption Analysis by Application
6.1 Global Tungsten Consumption Market Share by Application (2017-2022)
6.2 Global Tungsten Consumption Growth Rate by Application (2017-2022)
Continued…
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FAQs
What is the outlook for the tungsten industry? ›
Tungsten Market Overview:
The Global Tungsten market was valued at US$ 4.41 Bn. in 2021, and it is expected to reach US$ 7.56 Bn.
The analyst has been monitoring the tungsten carbide market and is forecast to grow by $4818.79 mn during 2022-2027, accelerating at a CAGR of 4.23% during the forecast period.
Who is the largest consumer of tungsten? ›In addition to being the world's largest tungsten producer, China is the world's top consumer of the metal. Aside from that, China has been the main source of tungsten imported into the US since 2017, reportedly representing 29 percent of total American tungsten imports between 2018 and 2021.
Are tungsten prices rising? ›The average annual price of 65% tungsten concentrate in 2021 is 102000 yuan / ton, an increase of 20% over the same period last year.
Is tungsten good to invest in? ›Those looking for worthy, safe and valuable forms of investment should consider tungsten cubes. Coming from a durable, incredibly hard and corrosion-resistant metal, every tungsten cube promises to be a worthy investment.
How much is tungsten in 2023? ›Tungsten Price
As of February 2023, industry sources indicate that the Tungsten APT Price CIF Rotterdam is US$340-$346/mtu (metric tonne unit).
The global demand for tungsten is forecasted to rise annually (3-7% per annum according to the British Geological Survey) and is predicted to outstrip available supply which will place continued upward pressure on prices in the near-term.
Where does US get tungsten? ›Significant tungsten deposits occur in Alaska, Arizona, California, Colorado, Idaho, Montana, North Carolina, New Mexico, Nevada, Texas, Utah, and Washington.
In which state is tungsten found the most? ›Rajasthan is the leading producer of Tungsten in India.
What industry uses the most tungsten? ›Tungsten products are widely used in the automotive industry as a whole, particularly in tooling and die cast applications.
Why are people buying tungsten? ›
Its incredible hardness too, second after that of diamond, along with its melting point make it beneficial for a range of processes across industries. Even for investors and financers, tungsten cubes are one of the primary sources of mergers, IPOs and investment.
Why are crypto people buying tungsten? ›“I like the atomic properties of Tungsten, the density, the hardness,” he said. This is one of the main explanations people seem to provide for crypto-enthusiasts' sudden turn to cubes: maybe they simply want something physical as a counterweight to crypto.
Is there a tungsten shortage? ›As of right now, the idea of a tungsten shortage is a myth (started by that same tweet heard 'round the crypto world). While there has been a buying frenzy, there is still plenty of product available for industrial applications.
Who sells the most tungsten? ›Global tungsten production volume 2022, by country
In 2022, China produced the world's largest quantity of tungsten, at approximately 71,000 metric tons. Vietnam was the second-largest tungsten producing country that year, with an estimated production volume of 4,800 metric tons.
| Company | Location | Year Founded |
|---|---|---|
| Leading Edge Metals & Alloys, Inc. | Torrance, CA | 2009 |
| Ultramet | Pacoima, CA | 1970 |
| Metal Cutting Corp. | Cedar Grove, NJ | 1967 |
| Continental Steel & Tube Co. | Fort Lauderdale, FL | 1984 |
Based on present and projected tungsten production and usage and maximum recycling efforts, the world will run out of tungsten by 2300. This chart assumes tungsten is recycled to its full-extent and does not take into account future economic factors, pricing, innovation, need, etc.
Will metal prices go up in 2023? ›Steel Prices Could Go Up Later in 2023
According to the Steel Metal Update, steel and metal prices will soon hit rock bottom, which means that up is the only direction left to go. It's unclear when exactly steel prices will start to rebound, but experts believe it will be toward the end of 2023.
Tungsten is a fairly new metal on the market, and it does not hold its cash value the way gold does. That makes it a more affordable option.
Is tungsten worth more than gold? ›Cheaper - Thanks to the large amount of tungsten, it is significantly cheaper than gold. Hypoallergenic - Tungsten is a fantastic option for those with allergies to gold or nickel. This quality is due to nickel-binder alloys.
What is better than tungsten? ›Titanium – This naturally occurring metal has the highest tensile strength to density ratio of any metal, which makes it, pound-for-pound, stronger than tungsten.
What is the leading North American producer of tungsten? ›
Following China, the country that produces the most tungsten is Canada, with the North American Tungsten Corps. Ltd.'s Cantung mine being the most significant producer of the element in terms of volume following China.
Which metal will have the most demand in the future? ›Assuming the recent trend in intensity of use is maintained during our forecast period, nickel will see the fastest growth, with demand growing by 123 per cent from 2020 to 2035. Aluminium and steel will also see significant growth of 57 per cent and 50 per cent respectively, with copper increasing by 26 per cent.
Is tungsten in demand? ›Pure tungsten metal products such as electrodes, lighting filaments, electrical and electronic contacts, sheets, wires, rods, and other items will continue to expand world tungsten mill products demand steadily, owing to tungsten's widespread use in electrical and electronic applications.
Who is the largest producer of tungsten? ›In 2022, an estimated 84,000 metric tons of contained tungsten (also known as wolfram) was produced globally. China is by far the world's largest tungsten mining country, accounting for approximately 85 percent of the world's output.
Does the US produce tungsten? ›This data release provides descriptions of more than 80 of the largest tungsten mineral districts, mines, and mineral deposits within the United States. Tungsten most commonly occurs in the minerals scheelite, ferberite, and hubnerite.
Where is tungsten most abundant? ›China is the dominant producer of tungsten; in 2016 it produced over 80 percent of total tungsten mined, and it contained nearly two-thirds of the world's reserves. Vietnam, Russia, Canada, and Bolivia produce most of the remainder. Tungsten does not occur as a free metal.
Which metal can replace tungsten? ›In other antimony products such as antimony chemicals in enamels, paint and pigments, there are also possibilities for substitution with chromium, tin, titanium, zinc, and zirconium (USGS, 2020).
Where is tungsten mined in the US? ›Significant tungsten deposits occur in Alaska, Arizona, California, Colorado, Idaho, Montana, North Carolina, New Mexico, Nevada, Texas, Utah, and Washington.
What is the problem with tungsten? ›Tungsten's hardness also has its downsides. In fact, the harder the metal, the more brittle and breakable it is (unlike gold, which is soft and malleable, meaning it will bend rather than break). If you drop a tungsten ring, or if you accidentally smash it against a hard surface, the metal may crack or shatter.