Tungsten Market 2025-2029
The tungsten market is forecasted to grow by USD 2607.2 mn during 2024-2029, accelerating at a CAGR of 7.4% during the forecast period. The report on the tungsten market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by wide use of tungsten in integrated circuits, increasing demand for tungsten carbide from automotive industry, and vast reserves of tungsten ores in china.
Technavio's tungsten market is segmented as below:
By Product
- Hard metal
- Steel and alloys
- Mill products
- Others
By Application
- Automotive
- Aerospace and defense
- Electrical and electronics
- Machine tools and equipment
- Healthcare
By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the miniaturization of electronic components as one of the prime reasons driving the tungsten market growth during the next few years. Also, recycling of tungsten scrap and emerging future applications of tungsten will lead to sizable demand in the market.
The report on the tungsten market covers the following areas:
- Tungsten Market sizing
- Tungsten Market forecast
- Tungsten Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading tungsten market vendors that include Almonty Industries Inc., Amalgamated Metal Corp. PLC, Buffalo Tungsten Inc., China Molybdenum Co. Ltd., China Tungsten Online Manu and Sales Corp., Dymet Alloys, Federal Carbide Co., Global Tungsten and Powders Corp., HC Starck Tungstena GmbH, Mitsubishi Materials Corp., MOLTUN, PicoParts, SALORO SLU, Saxony Minerals and Exploration AG SME AG, Specialty Metals Resources Ltd., T and D Materials Manufacturing LLC, TaeguTec LTD., Tungco INC., and Tungsten Mining NL. Also, the tungsten market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.