Tungsten Industry Outlook 2019 - Less Production, More Demand – 2 of 3

Global tungsten industry has been extensive usage in a broad range of industries including metal working, mining, oil & gas, aerospace, defense, automotive, etc. Outlook 2019, the tungsten industry will be definitely propelled by this products, as they are vital in the modern industry. 

The tungsten product finds its usage in different forms for a varied array of applications. Tungsten is employed in manufacturing different alloys such as tool steel, high-speed steel, and many more. 

Further more, tungsten industry products also used in the fabrication of carbides, which are popularly used as cutting tools, drill bits, and for other such high strength and high temperature applications. Pure tungsten products are used in the electronic industry whereas salts, sulfides, or oxides obtained from the product finds usage in the chemical industry in manufacturing lubricants, catalysts, etc. Since most of the tungsten products finds usage in manufacturing and other related industries, the overall development of the world economy will have a direct effect on the tungsten industry.

Electronics industry is one of the major end-user industries of tungsten industry, it has witnessed fast developments in the past few years. In 2019 outlook, the high melting point and low vapor pressure will drive the tungsten be widely used in the industry items such as cathode-ray tubes, vacuum tube filaments, and light bulbs. Rising technological advancements have also contributed to the growth in this sector. Innovation in the electronics industry like miniaturization and enhanced PCB technology would further increase product demand in the future.

Aerospace is a very important end-user of the tungsten industry, and it is very likely to gain with a 7% compounded annual growth rate. Aircraft manufacturing industries in U.S., Germany, France, and other such developed countries will propel growth of this end-use sector .Tungsten industry products finds its usage in manufacturing electrical contacts, filaments, X-ray tubes, heat sinks, bulbs, and many other such components in the electronics industry. 2019 outlook, high product demand from China will be a major factor driving the Asia Pacific market. European market will be chiefly augmented by rising product demand in France, Germany, Russia, Italy and the UK, mostly from the aerospace and automotive industries.

Tungsten Industry Outlook 2019 - Less Production, More Demand – 1 of 3

Tungsten Industry Outlook 2019 - Less Production, More Demand – 3 of 3

• < Prev
• Next >