What is Tungsten Metal Market Scope?
Tungsten is a silver-colored metal and having the highest melting point of any pure metal. It is also known as Wolfram. The tungsten is more resistant to fracturing than diamond and it is much harder than steel. This metal is having some unique properties such as it has the ability to withstand at high temperature, because of this capability it is ideal for many commercial and industrial applications. The tungsten metal is extracted from two types of minerals one is wolframite and the other is scheelite. China is the leading producer of this metal and providing around 80% of the world supply.
The Tungsten Metal market study is being classified by Type (Pure Tungsten, Tungsten Carbide, Alloyed Tungsten and Stellite), by Application (Consumer Products, Construction, Electronics, Electricity and Lighting, Engineering, Industrial Manufacturing, Jewelry, Mining and Others (Medical Supply, Aerospace, Automotive, and Recreation)) and major geographies with country level break-up.
The global tungsten metal market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability. Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of North America Tungsten Metal market throughout the predicted period.
Midwest Tungsten Service (United States), Kennametal Inc. (United States), NAECO, LLC (United States), Federal Carbide Company (United States), Buffalo Tungsten Inc. (United States), Reade (United States), Tungsten Corporation (United States), Hallmark Metals Corporation (United States), Stanford Materials (United States) and ACI Alloys (United States) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of North America Tungsten Metal market by Type, Application and Region.
On the basis of geography, the market of Tungsten Metal has been segmented into North America (United States, Canada, Mexico).
“According to the Nuclear Regulatory Commission (NRC) regulations, it’s denoted that shipping thoriated tungsten electrodes in the United States need to comply with the Department of Transportation (DOT) regulations. DOT requires the thoriated tungsten electrodes to be properly packaged and labeled. The surface of the package must be monitored for radioactivity.”
Influencing Market Trend
- Increase Adoption for Jewellery Production
- Growing Demand from Defense Industry
- Growing Government Initiative towards Mining Industry
Market Drivers
- Increase Demand from Mining Sites and Construction Sites
- Growing Demand from Drill Bits, PCB Board Micro-Drill That Boost the Tungsten Rods Market
- High Production in China Regions
Opportunities
- High Growth in the Mining Industry
- The proliferation of Large, Medium and Small Scale Industries Leads to Grow the Tungsten Metal Market
Restraints
- High Availability of Substitute Products
Challenges
- Fluctuation Of Production Cost Is Anticipated To Challenge The Market.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Tungsten Metal Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
Customization available in this Study:
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