Report overview
Tungsten, or wolfram, is a chemical element with symbol W and atomic number 74. The name tungsten comes from the former Swedish name for the tungstate mineral scheelite, tung sten or "heavy stone". Tungsten is a rare metal found naturally on Earth almost exclusively combined with other elements in chemical compounds rather than alone. It was identified as a new element in 1781 and first isolated as a metal in 1783. Its important ores include wolframite and scheelite.
Market Analysis and Insights: Global Tungsten Alloy Market
Due to the COVID-19 pandemic, the global Tungsten Alloy market size is estimated to be worth US$ million in 2023 and is forecast to a readjusted size of US$ million by 2030 with a CAGR of % during the forecast period 2023-2030. Fully considering the economic change by this health crisis, Molybdenum Tungsten Alloys accounting for % of the Tungsten Alloy global market in 2022, is projected to value US$ million by 2030, growing at a revised % CAGR from 2023 to 2030. While Electronics segment is altered to an % CAGR throughout this forecast period.
North America Tungsten Alloy market is estimated at US$ million in 2022, while Europe is forecast to reach US$ million by 2030. The proportion of the North America is % in 2022, while Europe percentage is %, and it is predicted that Europe share will reach % in 2030, trailing a CAGR of % through the analysis period 2023-2030. As for the Asia, the notable markets are Japan and South Korea, CAGR is % and % respectively for the next 6-year period.
The global major manufacturers of Tungsten Alloy include TaeguTec Ltd, Eurotungstene, Sandvik, Buffalo Tungsten, Wolfram Company JSC, JXTC, AST, Kennametal and China Minmetals Corporation, etc. In terms of revenue, the global 3 largest players have a % market share of Tungsten Alloy in 2022.
Global Tungsten Alloy 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 2018 to 2030. This section mentions the volume of production by region from 2018 to 2030. Pricing analysis is included in the report according to each type from the year 2018 to 2030, manufacturer from 2018 to 2023, region from 2018 to 2023, and global price from 2018 to 2030.
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.
Global Tungsten Alloy 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 2018 to 2030. by Application segment also provides consumption during the forecast period of 2018 to 2030. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Molybdenum Tungsten Alloys
Niobium Tungsten Alloys
Other
Segment by Application
Electronics
Aerospace
Automotive
Dies & Punches
Others(Abrasive Products, etc.)
By Company
TaeguTec Ltd
Eurotungstene
Sandvik
Buffalo Tungsten
Wolfram Company JSC
JXTC
AST
Kennametal
China Minmetals Corporation
Chongyi Zhangyyuan Tungsten Co
Xiamen Tungsten
Element Six
Lineage Alloys
Japan New Metals
Jiangxi Yaosheng
H.C.Starck
ALMT Corp
GuangDong XiangLu Tungsten
Plansee(GTP)
Kohsei Co Ltd
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
