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At 7% CAGR, Tungsten Market Growth 2025 from Aerospace End-Use Sector

Author : Ronak Bora | Published Date : 2019-08-07 

Aerospace is a key end-use sector in the tungsten market which is likely to gain with a compounded annual growth rate exceeding 7%. Aircraft manufacturing industries in the U.S., Germany, France, and other such developed countries will propel this end-use sector's growth. Electrical & electronics appliances end-use will grow by a CAGR above 8%. Tungsten products finds usage in manufacturing electrical contacts, filaments, X-ray tubes, heat sinks, bulbs, and many other such components in the electronics industry.

Components used in the aviation sector are commonly subjected to considerable wear and friction, high temperatures ant must be durable for lowering the time and money spent in aircraft maintenance. As such, tungsten used in manufacturing parts offer the necessary reliability to a plane and enhance control abilities for a pilot, propagating the critical nature of the tungsten market. Indicating a significantly positive outlook for the aviation sector, Airbus had revealed in a forecast report that over the next 20 years, there would be requirement of over 37,400 new freight and passenger aircrafts.

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Valued at nearly US$5.8 trillion, these aircrafts represent a worldwide growth of the travel and tourism industry, as well as lucrative prospects for the tungsten market and other ancillary segments. The same report has informed that despite any external factors affecting the aerospace segment, air traffic has grown over the last two decades and is expected to almost double over the next 15 or so years. Global GDP is considered to be a prominent indicator expanding the growth of aviation and it is predicted that 50% of the air traffic increase will instigate in Asia-Pacific, while U.S. and Europe will together account for 30% of the increase.

The tungsten market has been segmented according to application and end-use. Carbides and metal alloys are the key application segments which are poised to gain by approximately 8% CAGR till 2025. Proliferation of the Asia Pacific automotive and manufacturing sectors has been the chief factor driving both these application segments. Mill products application, which will be majorly driven by the electronics industry, will grow by a slightly lower growth rate in the forecast years.

Electronics industry is one of the major end-user industries which has witnessed fast developments in the past few years. The global consumer electronics industry will grow in the future and would cross USD 1,500 billion by 2024. This will drive the tungsten market in the coming years as the product is popularly used in the electronics industry in items such as cathode-ray tubes, vacuum tube filaments, and light bulbs due to its high melting point and low vapor pressure. Rising technological advancements have also contributed to the growth in this sector. Innovation in the electronics industry like miniaturization and enhanced PCB technology would further increase product demand in the future.

Asia Pacific, Europe, and the U.S. are the major tungsten markets in the world. High product demand from China will be a major factor driving the Asia Pacific market. European tungsten market will be chiefly augmented by rising product demand in France, Germany, Russia, Italy and the UK, mostly from the aerospace and automotive industries.

W Resource, China Minmetals Corporation, Specialty Metals Resources, Wolfram Bergbau-und Hutten, H.C. Starck, Soloro, Japan New Metals Company, and Wolfram Company are some of the key tungsten market participants.

Glimpse of Table of Content (ToC)

Chapter 3. Tungsten Market Insights

3.1.  Tungsten Market segmentation

3.2.  Tungsten Market size and forecast, 2014 - 2025

3.3.  Tungsten Market ecosystem analysis

3.3.1. Profit margin

3.3.2. Value addition at each stage

3.3.3. Distributor channel analysis

3.3.4. Vendor matrix

3.3.4.1.    List of key raw material suppliers

3.3.4.2.    List of key tungsten manufacturers/distributors

3.3.4.3.    List of key tungsten product manufacturers/distributors

3.3.4.4.    List of key/potential end-users

3.4.  Raw material analysis

3.5.  Innovation & sustainability

3.5.1. Patent analysis

3.5.2. Technology landscape

3.5.3. Production process

3.5.4. Future trends

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1.       Increasing demand for hard metals

3.6.1.2.       Increasing use of tungsten in various alloys

3.6.1.3.       Proliferation in electronic industry

3.6.2. Industry pitfalls & challenges

3.6.2.1.       Stringent environmental regulations

3.6.2.2.       Demand-supply dynamics

3.7.  Regulatory landscape

3.7.1. U.S.

3.7.2. Europe

3.7.3. China

3.8.  Growth potential analysis

3.9.  Competitive landscape, 2017

3.9.1.     Company market share, 2017

3.9.2.     Key stakeholders

3.9.3.     Strategy dashboard

3.10.  Porter’s analysis

3.10.1.  Supplier power

3.10.2.  Buyer power

3.10.3.  Threat of new entrants

3.10.4.  Threat of substitutes

3.10.5.  Industry rivalry

3.11.  Regional price trends

3.11.1.  Cost structure analysis

3.11.1.1.     R&D cost

3.11.1.2.     Manufacturing & equipment cost

3.11.1.3.     Raw material cost

3.11.1.4.     Distribution cost

3.11.1.5.     Operating cost

3.11.1.6.     Miscellaneous cost

3.11.2.  Price by application

3.11.3.  Price by end-use

3.12.  PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/tungsten-market

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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