Global Tungsten Market Size study & Forecast, by Type, by Application, by Form and Regional Analysis, 2023-2030

Description

List of Tables

Global Tungsten Market is valued at approximately USD 5.1 billion in 2022 and is anticipated to grow with a compounded annual growth rate of more than 8.00 % over the forecast period 2023-2030. Tungsten is a very strong and hard metal that is often used in industries because it can withstand high temperatures and is very durable it has a very high melting point and is often used to make things such as light bulb filaments, electrical appliances, automotive parts, and so on. Tungsten metal is used by various industries such as Aerospace, Military, Automotive, and so on for manufacturing various equipment because of its unique properties such as high melting point, exceptional hardness & strength and excellent thermal & electricity conductivity. The growth of the Global Tungsten Market is to be witnessed because of various factors such as the increasing use of electronic devices and the increasing use of renewable energy. Moreover, the market can witness sharp growth aiming at the factors such as increasing industrialization and development of the aerospace industry. However, the Limited Supply of tungsten globally may hamper the growth of the market.

According to the International Energy Agency (IEA) in 2022, revealed that renewable energy sources, including solar and wind power, along with nuclear power, are expected to fulfil over 90% of the rise in global energy demand by 2025. The government now planning to develop various renewable energy power plants such as Solar power plants, Hydropower plants which might give rise to the Global Tungsten Market that is used in manufacturing industry. According to the United Nations Industrial Development Organization (UNIDO) in 2023, the global manufacturing output had maintained a stable year-on-year growth rate of between 3 and 4 percent. Similarly, according to the Indian Brand Equity Foundation (IBEF) in 2023, electronics manufacturing saw an exponential growth to reach USD 67.3 billion in 2020-2021 which emerge as to be the growth factor for the Global Tungsten Market. However, a limited supply of tungsten can harm the overall growth of the market as tungsten is a rare metal found on some specific parts of the Earth.

The key regions considered for the Global Tungsten Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America region dominates the market due to the largest market share in terms of industrialization and aerospace as the consumption of tungsten in the North America region is proportionately high according to World Mining Data. Asia Pacific region emerges as to be the fastest growing region, according to Statista, China is the largest producer and supplier of tungsten to the world that elevates the growth of the Asia Pacific region owing to fact that the region is able to fulfill the demand of tungsten globally with less cost of labor.

Major market players included in this report are:

Jiangxi Tungsten Holdings Group Co. Ltd.
Kennametal Inc.
Nippon Tungsten Co. Ltd.
Ormonde Mining Company
Plansee Group Company
Questek Innovations Llc Company
Sandvik Engineering Company
Umicore Mining Company
Tungsten Mining NL
North American Tungsten Corporation

Recent Developments in the Market:

In May 2021, Kennametal Inc. had introduced KAR85-AM-K, a highly corrosion-resistant tungsten carbide grade specifically designed for metal additive manufacturing. This grade is exclusively available in conjunction with Kennametal's binder jet 3D printing technology, enabling the production of fully finished wear components.
In October 2022, The Indian Government has planned to build world's largest floating solar power plant in Khandwa district of Madhya Pradesh. The floating solar power plant is to be built on Omekareshwar Dam on Narmada River that generates power of 600 MW (Megawatt) by 2022-23.

Global Tungsten Market Report Scope:

Historical Data: 2020 - 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Application, Form, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Tungsten Carbide
Metal Alloys
Mill Products
Permanent Magnets
Nanowires

By Application:

Automotive Parts
Aerospace Components
Drilling
Boring & Cutting Equipment
Logging Equipment
Electrical & Electronic Appliances
Metalworking, Mining and Petroleum
Military
Other

By Form:

Foils
Ribbons
Wires
Tubes

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Tungsten Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Tungsten Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Tungsten Market, by Application, 2020-2030 (USD Billion)
- 1.2.4. Tungsten Market, by Form, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Tungsten Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Tungsten Market Dynamics

3.1. Tungsten Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
  - 3.1.1.1. Increasing use of Electronic Devices
  - 3.1.1.2. Increasing use of Renewable Energy
- 3.1.2. Market Challenges
  - 3.1.2.1. Limited Supply of Tungsten Globally
  - 3.1.2.2. High Cost of Extraction of Tungsten
- 3.1.3. Market Opportunities
  - 3.1.3.1. Increasing Industrialization
  - 3.1.3.2. Development of Aerospace

Chapter 4. Global Tungsten Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Impact Analysis
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

Chapter 5. Global Tungsten Market, by Type

5.1. Market Snapshot
5.2. Global Tungsten Market by Type, Performance - Potential Analysis
5.3. Global Tungsten Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Tungsten Market, Sub Segment Analysis
- 5.4.1. Tungsten Carbide
- 5.4.2. Metal Alloys
- 5.4.3. Mill Products
- 5.4.4. Permanent Magnets
- 5.4.5. Nanowires

Chapter 6. Global Tungsten Market, by Application

6.1. Market Snapshot
6.2. Global Tungsten Market by Application, Performance - Potential Analysis
6.3. Global Tungsten Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Tungsten Market, Sub Segment Analysis
- 6.4.1. Automotive Parts
- 6.4.2. Aerospace Components
- 6.4.3. Drilling
- 6.4.4. Boring & Cutting Equipments
- 6.4.5. Logging Equipments
- 6.4.6. Electrical & Electronics Applicances
- 6.4.7. Metalworking, Mining and Petroleum
- 6.4.8. Military
- 6.4.9. Other

Chapter 7. Global Tungsten Market, by Form

7.1. Market Snapshot
7.2. Global Tungsten Market by Form, Performance - Potential Analysis
7.3. Global Tungsten Market Estimates & Forecasts by Form 2020-2030 (USD Billion)
7.4. Tungsten Market, Sub Segment Analysis
- 7.4.1. Folis
- 7.4.2. Ribbons
- 7.4.3. Wires
- 7.4.4. Tubes

Chapter 8. Global Tungsten Market, Regional Analysis

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Tungsten Market, Regional Market Snapshot
8.4. North America Tungsten Market
- 8.4.1. U.S. Tungsten Market
  - 8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
  - 8.4.1.2. Application breakdown estimates & forecasts, 2020-2030
  - 8.4.1.3. Form breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Tungsten Market
8.5. Europe Tungsten Market Snapshot
- 8.5.1. U.K. Tungsten Market
- 8.5.2. Germany Tungsten Market
- 8.5.3. France Tungsten Market
- 8.5.4. Spain Tungsten Market
- 8.5.5. Italy Tungsten Market
- 8.5.6. Rest of Europe Tungsten Market
8.6. Asia-Pacific Tungsten Market Snapshot
- 8.6.1. China Tungsten Market
- 8.6.2. India Tungsten Market
- 8.6.3. Japan Tungsten Market
- 8.6.4. Australia Tungsten Market
- 8.6.5. South Korea Tungsten Market
- 8.6.6. Rest of Asia Pacific Tungsten Market
8.7. Latin America Tungsten Market Snapshot
- 8.7.1. Brazil Tungsten Market
- 8.7.2. Mexico Tungsten Market
8.8. Middle East & Africa Tungsten Market
- 8.8.1. Saudi Arabia Tungsten Market
- 8.8.2. South Africa Tungsten Market
- 8.8.3. Rest of Middle East & Africa Tungsten Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Jiangxi Tungsten Holdings Group Co. Ltd.
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Recent Developments
- 9.3.2. Kennametal Inc.
- 9.3.3. Nippon Tungsten Co. Ltd.
- 9.3.4. Ormonde Mining Company
- 9.3.5. Plansee Group Company
- 9.3.6. QuesTek Innovations LLC Company
- 9.3.7. Sandvik Engineering Company
- 9.3.8. Umicore Mining Company
- 9.3.9. Tungsten Mining NL
- 9.3.10. North American Tungsten Corporation

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Tungsten Market, report scope
TABLE 2. Global Tungsten Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Tungsten Market estimates & forecasts by Type 2020-2030 (USD Billion)
TABLE 4. Global Tungsten Market estimates & forecasts by Application 2020-2030 (USD Billion)
TABLE 5. Global Tungsten Market estimates & forecasts by Form 2020-2030 (USD Billion)
TABLE 6. Global Tungsten Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Tungsten Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Tungsten Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Tungsten Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Tungsten Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Tungsten Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Tungsten Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Tungsten Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Tungsten Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Tungsten Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Tungsten Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Tungsten Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global Tungsten Market
TABLE 71. List of primary sources, used in the study of global Tungsten Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered

List of tables and figures are dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Tungsten Market, research methodology
FIG 2. Global Tungsten Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Tungsten Market, key trends 2022
FIG 5. Global Tungsten Market, growth prospects 2023-2030
FIG 6. Global Tungsten Market, porters 5 force model
FIG 7. Global Tungsten Market, pest analysis
FIG 8. Global Tungsten Market, value chain analysis
FIG 9. Global Tungsten Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Tungsten Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Tungsten Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Tungsten Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Tungsten Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Tungsten Market, regional snapshot 2020 & 2030
FIG 15. North America Tungsten Market 2020 & 2030 (USD Billion)
FIG 16. Europe Tungsten Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Tungsten Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Tungsten Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Tungsten Market 2020 & 2030 (USD Billion)