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Tungsten - Market Analysis, Trends, and Forecasts

  • ID: 4721456
  • Report
  • February 2020
  • Region: Global
  • 104 Pages
  • Global Industry Analysts, Inc
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Tungsten market worldwide is projected to grow by 30.5 Thousand Metric Tons, driven by a compounded growth of 4%. Hardmetals/Cement Carbides, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.1%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over 78.4 Thousand Metric Tons by the year 2025, Hardmetals/Cement Carbides will bring in healthy gains adding significant momentum to global growth.

Representing the developed world, the United States will maintain a 4.9% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over 1.6 Thousand Metric Tons to the region's size and clout in the next 5 to 6 years. Over 1.4 Thousand Metric Tons worth of projected demand in the region will come from Rest of Europe markets. In Japan, Hardmetals/Cement Carbides will reach a market size of 6.1 Thousand Metric Tons by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 3.8% over the next couple of years and add approximately 5.1 Thousand Metric Tons in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others,
  • A.L.M.T. Corp.
  • Allegheny Technologies Incorporated
  • Almonty Industries Inc.
  • Betek GmbH & Co. KG
  • Buffalo Tungsten Inc.
  • China Minmetals Non-Ferrous Metals Co., Ltd.
  • China Molybdenum Co., Ltd.
  • Chongyi Zhangyuan Tungsten Co., Ltd.
  • GuangDong XiangLu Tungsten Co., Ltd.
  • H.C. Starck GmbH
  • International Metalworking Companies (IMC)
  • Jiangxi Tungsten Holding Group Co., Ltd.
  • Kennametal, Inc.
  • Nippon Tungsten Co., Ltd.
  • Plansee Group
  • QuesTek Innovations, LLC
  • Sandvik Group
  • WOLFRAM Company CJSC
  • Xiamen Tungsten Co., Ltd.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Tungsten: The Steel-Gray Strategic Raw Metal with Remarkable Qualities

Superior Melting Point, Hardness, Density, and Tensile Strength Drive Widespread Demand across Wide Ranging Applications

Select Applications of Tungsten by End-Use Segment: A Snapshot

Recent Market Activity

Tungsten Production and Consumption Worldwide

China: Largest Tungsten Producing and Consuming Country in the World

Other Major Tungsten Producing Countries in the World

New & Upcoming Mining Projects to Augment Mine Production

Global Competitor Market Shares

Tungsten Competitor Market Share Scenario Worldwide (in %): 2020 & 2029

Global Market Outlook

Continued Recovery in Global GDP & Manufacturing PMI Signals Optimistic Market Outlook

2. FOCUS ON SELECT PLAYERS

A.L.M.T. Corp. (Japan)

Allegheny Technologies Incorporated (USA)

Almonty Industries Inc. (Canada)

Betek GmbH & Co. KG (Germany)

Buffalo Tungsten Inc. (USA)

China Minmetals Non-Ferrous Metals Co., Ltd. (China)

China Molybdenum Co., Ltd. (China)

Chongyi Zhangyuan Tungsten Co., Ltd (China)

Guangdong XiangLu Tungsten Co. Ltd. (China)

H.C. Starck GmbH (Germany)

International Metalworking Companies (IMC) (Israel)

Jiangxi Tungsten Holding Group Co., Ltd. (China)

Kennametal, Inc. (USA)

Nippon Tungsten Co., Ltd. (Japan)

Ormonde Mining plc (Ireland)

Plansee Group (Austria)

QuesTek Innovations, LLC (USA)

Sandvik Group (Sweden)

Umicore N.V. (Belgium)

Wolf Minerals Limited (UK)

WOLFRAM Company JSC (Russia)

Xiamen Tungsten Co., Ltd. (China)

3. MARKET TRENDS & DRIVERS

Expanding Application Areas for Tungsten with its Unique Properties Drive Healthy Growth in Demand

Rising Focus on New & Efficient Aerospace Manufacturing Materials Spurs Demand for Tungsten

Rise in Aircraft Fleet Drive Long-term Opportunities

Myriad Industrial Applications of Hardmetals/Cemented Carbide Benefit Market Expansion

Techniques Used to Protect Equipment from Wear

Growing Use in Electrical & Electronic Applications Propel Demand in Mill Products

Nano Interconnects Using Tungsten

Stable Vehicle Production Boosts Demand for Tungsten in High-Performance Mechanical Auto Parts

Studded Snow Tires: A Niche Application

Recovery in Oil & Gas Exploration and Development Benefit Tungsten Demand for Drilling Tools

Wear Resistance, Temperature Tolerance and Anti-Corrosion Benefits Drive Tungsten Demand in Mining Tools

High Tide in Production of Recycled Tungsten

Tungsten as a Replacement for the Heavy and Poisonous Lead in High Density Applications Augurs Well for the Market

Fall and Rise of Tungsten Prices: A Cause for Concern?

4. GLOBAL MARKET PERSPECTIVE

TABLE 1: Tungsten Global Market Estimates and Forecasts in Metric Tons by Region/Country: 2018-2025

TABLE 2: Tungsten Global Retrospective Market Scenario in Metric Tons by Region/Country: 2009-2017

TABLE 3: Tungsten Market Share Shift across Key Geographies Worldwide: 2009 VS 2019 VS 2025

TABLE 4: Hardmetals/Cement Carbides (End-Use) Global Opportunity Assessment in Metric Tons by Region/Country: 2018-2025

TABLE 5: Hardmetals/Cement Carbides (End-Use) Historic Sales Analysis in Metric Tons by Region/Country: 2009-2017

TABLE 6: Hardmetals/Cement Carbides (End-Use) Percentage Share Breakdown of Global Sales by Region/Country: 2009 VS 2019 VS 2025

TABLE 7: Steels, Superalloys, & Wear-Resistant Alloys (End-Use) Worldwide Sales in Metric Tons by Region/Country: 2018-2025

TABLE 8: Steels, Superalloys, & Wear-Resistant Alloys (End-Use) Historic Demand Patterns in Metric Tons by Region/Country: 2009-2017

TABLE 9: Steels, Superalloys, & Wear-Resistant Alloys (End-Use) Market Share Shift across Key Geographies: 2009 VS 2019 VS 2025

TABLE 10: Mill Products (End-Use) Global Market Estimates & Forecasts in Metric Tons by Region/Country: 2018-2025

TABLE 11: Mill Products (End-Use) Retrospective Demand Analysis in Metric Tons by Region/Country: 2009-2017

TABLE 12: Mill Products (End-Use) Market Share Breakdown by Region/Country: 2009 VS 2019 VS 2025

TABLE 13: Other End-Uses (End-Use) Demand Potential Worldwide in Metric Tons by Region/Country: 2018-2025

TABLE 14: Other End-Uses (End-Use) Historic Sales Analysis in Metric Tons by Region/Country: 2009-2017

TABLE 15: Other End-Uses (End-Use) Share Breakdown Review by Region/Country: 2009 VS 2019 VS 2025

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

US Tungsten Market Share (in %) by Company: 2020 & 2025

Market Analytics

TABLE 16: United States Tungsten Latent Demand Forecasts in Metric Tons by End-Use: 2018 to 2025

TABLE 17: Tungsten Historic Demand Patterns in the United States by End-Use in Metric Tons for 2009-2017

TABLE 18: Tungsten Market Share Breakdown in the United States by End-Use: 2009 VS 2019 VS 2025

CANADA

TABLE 19: Canadian Tungsten Market Quantitative Demand Analysis in Metric Tons by End-Use: 2018 to 2025

TABLE 20: Tungsten Market in Canada: Summarization of Historic Demand Patterns in Metric Tons by End-Use for 2009-2017

TABLE 21: Canadian Tungsten Market Share Analysis by End-Use: 2009 VS 2019 VS 2025

JAPAN

TABLE 22: Japanese Demand Estimates and Forecasts for Tungsten in Metric Tons by End-Use: 2018 to 2025

TABLE 23: Japanese Tungsten Market in Metric Tons by End-Use: 2009-2017

TABLE 24: Tungsten Market Share Shift in Japan by End-Use: 2009 VS 2019 VS 2025

CHINA

TABLE 25: Chinese Demand for Tungsten in Metric Tons by End-Use: 2018 to 2025

TABLE 26: Tungsten Market Review in China in Metric Tons by End-Use: 2009-2017

TABLE 27: Chinese Tungsten Market Share Breakdown by End-Use: 2009 VS 2019 VS 2025

EUROPE

Market Facts & Figures

European Tungsten Market: Competitor Market Share Scenario (in %) for 2020 & 2025

Market Analytics

TABLE 28: European Tungsten Market Demand Scenario in Metric Tons by Region/Country: 2018-2025

TABLE 29: Tungsten Market in Europe: A Historic Market Perspective in Metric Tons by Region/Country for the Period 2009-2017

TABLE 30: European Tungsten Market Share Shift by Region/Country: 2009 VS 2019 VS 2025

TABLE 31: European Tungsten Addressable Market Opportunity in Metric Tons by End-Use: 2018-2025

TABLE 32: Tungsten Market in Europe: Summarization of Historic Demand in Metric Tons by End-Use for the Period 2009-2017

TABLE 33: European Tungsten Market Share Analysis by End-Use: 2009 VS 2019 VS 2025

FRANCE

TABLE 34: Tungsten Quantitative Demand Analysis in France in Metric Tons by End-Use: 2018-2025

TABLE 35: French Tungsten Historic Market Review in Metric Tons by End-Use: 2009-2017

TABLE 36: French Tungsten Market Share Analysis: A 17-Year Perspective by End-Use for 2009, 2019, and 2025

GERMANY

TABLE 37: Tungsten Market in Germany: Annual Sales Estimates and Forecasts in Metric Tons by End-Use for the Period 2018-2025

TABLE 38: German Tungsten Market in Retrospect in Metric Tons by End-Use: 2009-2017

TABLE 39: Tungsten Market Share Distribution in Germany by End-Use: 2009 VS 2019 VS 2025

ITALY

TABLE 40: Italian Demand for Tungsten in Metric Tons by End-Use: 2018 to 2025

TABLE 41: Tungsten Market Review in Italy in Metric Tons by End-Use: 2009-2017

TABLE 42: Italian Tungsten Market Share Breakdown by End-Use: 2009 VS 2019 VS 2025

UNITED KINGDOM

TABLE 43: United Kingdom Demand Estimates and Forecasts for Tungsten in Metric Tons by End-Use: 2018 to 2025

TABLE 44: United Kingdom Tungsten Market in Metric Tons by End-Use: 2009-2017

TABLE 45: Tungsten Market Share Shift in the United Kingdom by End-Use: 2009 VS 2019 VS 2025

REST OF EUROPE

TABLE 46: Rest of Europe Tungsten Addressable Market Opportunity in Metric Tons by End-Use: 2018-2025

TABLE 47: Tungsten Market in Rest of Europe: Summarization of Historic Demand in Metric Tons by End-Use for the Period 2009-2017

TABLE 48: Rest of Europe Tungsten Market Share Analysis by End-Use: 2009 VS 2019 VS 2025

ASIA-PACIFIC

TABLE 49: Tungsten Quantitative Demand Analysis in Asia-Pacific in Metric Tons by End-Use: 2018-2025

TABLE 50: Asia-Pacific Tungsten Historic Market Review in Metric Tons by End-Use: 2009-2017

TABLE 51: Asia-Pacific Tungsten Market Share Analysis: A 17-Year Perspective by End-Use for 2009, 2019, and 2025

REST OF WORLD

TABLE 52: Rest of World Tungsten Market Quantitative Demand Analysis in Metric Tons by End-Use: 2018 to 2025

TABLE 53: Tungsten Market in Rest of World: Summarization of Historic Demand Patterns in Metric Tons by End-Use for 2009-2017

TABLE 54: Rest of World Tungsten Market Share Analysis by End-Use: 2009 VS 2019 VS 2025

IV. COMPETITION

Total Comapnies Profiled: 49

Note: Product cover images may vary from those shown
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