Amid the COVID-19 crisis and the looming economic recession, the Tungsten market worldwide will grow by a projected 28.6 Thousand Metric Tons, during the analysis period
NEW YORK, June 2, 2020 /PRNewswire/ --
Amid the COVID-19 crisis and the looming economic recession, the Tungsten market worldwide will grow by a projected 28.6 Thousand Metric Tons, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 3.7%. Hardmetals/Cement Carbides, one of the segments analyzed and sized in this study, is forecast to grow at over 3.8% and reach a market size of 79.6 Thousand Metric Tons by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Hardmetals/Cement Carbides market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
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As part of the new emerging geographic scenario, the United States is forecast to readjust to a 4.5% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over 1.6 Thousand Metric Tons to the region's size over the next 7 to 8 years. In addition, over 1.2 Thousand Metric Tons worth of projected demand in the region will come from Rest of European markets. In Japan, the Hardmetals/Cement Carbides segment will reach a market size of 5.8 Thousand Metric Tons by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Tungsten market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 3.6% over the next couple of years and add approximately 4.7 Thousand Metric Tons in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Tungsten market landscape. 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 Inc.; 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; WOLFRAM Company CJSC; Xiamen Tungsten Co., Ltd.
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TUNGSTEN MCP-2
MARKET ANALYSIS, TRENDS, AND FORECASTS, JUNE 2
CONTENTS
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 Impact of Covid-19 and a Looming Global Recession
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: 2020-2027 Table 2: Tungsten Global Retrospective Market Scenario in Metric Tons by Region/Country: 2012-2019 Table 3: Tungsten Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027 Table 4: Hardmetals/Cement Carbides (End-Use) Global Opportunity Assessment in Metric Tons by Region/Country: 2020-2027 Table 5: Hardmetals/Cement Carbides (End-Use) Historic Sales Analysis in Metric Tons by Region/Country: 2012-2019 Table 6: Hardmetals/Cement Carbides (End-Use) Percentage Share Breakdown of Global Sales by Region/Country: 2012 VS 2020 VS 2027 Table 7: Steels, Superalloys, & Wear-Resistant Alloys (End-Use) Worldwide Sales in Metric Tons by Region/Country: 2020-2027 Table 8: Steels, Superalloys, & Wear-Resistant Alloys (End-Use) Historic Demand Patterns in Metric Tons by Region/Country: 2012-2019 Table 9: Steels, Superalloys, & Wear-Resistant Alloys (End-Use) Market Share Shift across Key Geographies: 2012 VS 2020 VS 2027 Table 10: Mill Products (End-Use) Global Market Estimates & Forecasts in Metric Tons by Region/Country: 2020-2027 Table 11: Mill Products (End-Use) Retrospective Demand Analysis in Metric Tons by Region/Country: 2012-2019 Table 12: Mill Products (End-Use) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027 Table 13: Other End-Uses (End-Use) Demand Potential Worldwide in Metric Tons by Region/Country: 2020-2027 Table 14: Other End-Uses (End-Use) Historic Sales Analysis in Metric Tons by Region/Country: 2012-2019 Table 15: Other End-Uses (End-Use) Share Breakdown Review by Region/Country: 2012 VS 2020 VS 2027
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: 2020 to 2027 Table 17: Tungsten Historic Demand Patterns in the United States by End-Use in Metric Tons for 2012-2019 Table 18: Tungsten Market Share Breakdown in the United States by End-Use: 2012 VS 2020 VS 2027 CANADA Table 19: Canadian Tungsten Market Quantitative Demand Analysis in Metric Tons by End-Use: 2020 to 2027 Table 20: Tungsten Market in Canada: Summarization of Historic Demand Patterns in Metric Tons by End-Use for 2012-2019 Table 21: Canadian Tungsten Market Share Analysis by End-Use: 2012 VS 2020 VS 2027 JAPAN Table 22: Japanese Demand Estimates and Forecasts for Tungsten in Metric Tons by End-Use: 2020 to 2027 Table 23: Japanese Tungsten Market in Metric Tons by End-Use: 2012-2019 Table 24: Tungsten Market Share Shift in Japan by End-Use: 2
VS 2020 VS 2027 CHINA Table 25: Chinese Demand for Tungsten in Metric Tons by End-Use: 2020 to 2027 Table 26: Tungsten Market Review in China in Metric Tons by End-Use: 2012-2019 Table 27: Chinese Tungsten Market Share Breakdown by End-Use: 2012 VS 2020 VS 2027 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: 2020-2027 Table 29: Tungsten Market in Europe: A Historic Market Perspective in Metric Tons by Region/Country for the Period 2012-2019 Table 30: European Tungsten Market Share Shift by Region/Country: 2012 VS 2020 VS 2027 Table 31: European Tungsten Addressable Market Opportunity in Metric Tons by End-Use: 2020-2027 Table 32: Tungsten Market in Europe: Summarization of Historic Demand in Metric Tons by End-Use for the Period 2012-2019 Table 33: European Tungsten Market Share Analysis by End-Use: 2012 VS 2020 VS 2027 FRANCE Table 34: Tungsten Quantitative Demand Analysis in France in Metric Tons by End-Use: 2020-2027 Table 35: French Tungsten Historic Market Review in Metric Tons by End-Use: 2012-2019 Table 36: French Tungsten Market Share Analysis: A 17-Year Perspective by End-Use for 2012, 2020, and 2027 GERMANY Table 37: Tungsten Market in Germany: Annual Sales Estimates and Forecasts in Metric Tons by End-Use for the Period 2020-2027 Table 38: German Tungsten Market in Retrospect in Metric Tons by End-Use: 2012-2019 Table 39: Tungsten Market Share Distribution in Germany by End-Use: 2012 VS 2020 VS 2027 ITALY Table 40: Italian Demand for Tungsten in Metric Tons by End-Use: 2020 to 2027 Table 41: Tungsten Market Review in Italy in Metric Tons by End-Use: 2012-2019 Table 42: Italian Tungsten Market Share Breakdown by End-Use: 2012 VS 2020 VS 2027 UNITED KINGDOM Table 43: United Kingdom Demand Estimates and Forecasts for Tungsten in Metric Tons by End-Use: 2020 to 2027 Table 44: United Kingdom Tungsten Market in Metric Tons by End-Use: 2012-2019 Table 45: Tungsten Market Share Shift in the United Kingdom by End-Use: 2012 VS 2020 VS 2027 REST OF EUROPE Table 46: Rest of Europe Tungsten Addressable Market Opportunity in Metric Tons by End-Use: 2020-2027 Table 47: Tungsten Market in Rest of Europe: Summarization of Historic Demand in Metric Tons by End-Use for the Period 2012-2019 Table 48: Rest of Europe Tungsten Market Share Analysis by End-Use: 2012 VS 2020 VS 2027 ASIA-PACIFIC Table 49: Tungsten Quantitative Demand Analysis in Asia-Pacific in Metric Tons by End-Use: 2020-2027 Table 50: Asia-Pacific Tungsten Historic Market Review in Metric Tons by End-Use: 2012-2019 Table 51: Asia-Pacific Tungsten Market Share Analysis: A 17-Year Perspective by End-Use for 2012, 2020, and 2027 REST OF WORLD Table 52: Rest of World Tungsten Market Quantitative Demand Analysis in Metric Tons by End-Use: 2020 to 2027 Table 53: Tungsten Market in Rest of World: Summarization of Historic Demand Patterns in Metric Tons by End-Use for 2012-2019 Table 54: Rest of World Tungsten Market Share Analysis by End-Use: 2012 VS 2020 VS 2027
IV. COMPETITION
Total Companies Profiled: 49
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