Based on region, the global tungsten market has been segmented into Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest market share in 2017 and is projected to grow at the highest CAGR during the review period. In Asia-Pacific, China, Japan, South Korea, and India are the major contributors to the growth of this regional market. China is the largest consumer and producer, not only in this region but also in the world. This is mainly attributed to the vast tungsten deposits or reserves, high production capacity and wide industrial sector in this country.
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In 2019, this country alone is anticipated to account for half of the global sales and more than one-fifth of the production. India is set to grow at the highest CAGR during the review period on account of the rapid industrialization, technological advancements, and increasing tungsten processing capacity. Additionally, lower mining and labor costs may provide lead to this market in coming years. Moreover, favorable government policies for industrialization, rapid growth of the automotive industry, and widening scope of applications for the tungsten materials are the primary factors driving growth of this regional market during the forecast period.
The increasing demand for the product in the existing automotive industry is likely to propel the market growth in North America and Europe. US, Germany and UK are the major markets in these regions. This is mainly due to their vast potential for investment in new technologies for the electronics and semiconductor industry.
The market in the Middle East & Africa is expected to grow at healthy CAGR in the coming years. South Africa, Turkey, Egypt, and Israel are expected to be the major countries contributing to market growth in the region.
The key players in the global tungsten market are
- Xiamen Tungsten Co., Ltd. (China)
- Buffalo Tungsten Inc. (US)
- Federal Carbide Company (US)
- China Minmetals Corporation (China)
- Global Tungsten & Powders Corporation (US)
- Wolfram Bergbau-und Hutten AG (Austria)
- Tungsten Mining NL (Australia)
- Tejing Tungsten (Vietnam)
- Japan New Metals Co., Ltd. (Japan)
- Saloro (Spain), among others
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The global Tungsten market has been segmented based on form, product, end-use, and region.
Based on form, the global tungsten market has been segregated into foils, ribbons, wires, rods, tubes, and sheets & strips.
By product, the market has been categorized into carbides, tungsten alloys, tungsten mill products, tungsten chemicals, and others.
Based on end-us, the market has been divided into automotive, aerospace & defense, machine tools & equipment, electrical & electronics, chemicals, and others.
List of Tables:-
Table 1 Global Tungsten Market, By Region, 2016–2023
Table 2 North America: Tungsten Market, By Country, 2016–2023
Table 3 Europe: Tungsten Market, By Country, 2016–2023
Table 4 Asia-Pacific: Tungsten Market, By Country, 2016–2023
Table 5 Middle East & Africa: Tungsten Market, By Country, 2016–2023
Table 6 Latin America: Tungsten Market, By Country, 2016–2023
To Be Continue….
List of Figures:-
FIGURE 1 Tungsten Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Tungsten Market
FIGURE 4 Value Chain/Supply Chain Of Tungsten Market
FIGURE 5 Share Of Tungsten Market, By Country, 2017 (%)
FIGURE 6 Global Tungsten Market, 2016–2023
To Be Continue……
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