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

Tungsten industry has been segmented according to application and end-use. Carbides and metal alloys are the key application segments. 2019 outlook, proliferation of the Asia Pacific automotive and manufacturing sectors has been the chief factor driving both these application segments. 

Mill products application, which will be majorly driven by the electronics industry, will grow by a slightly lower growth rate in the following several years.

For globally tungsten industry, Asia Pacific, Europe, and the U.S. are the major tungsten industries in the world. They play an main role in the worldwide global tungsten industry. Outlook 2019, high product demand from China will be a major factor driving the Asia Pacific market. And the 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. 

In Australia and USA, they are also put more efforts in order to find the tungsten mines to meet the more demand of their countries and for globally demand on tungsten industry. Recently there are some new discoveries in Australia. In UK, the completion of the definitive feasibility study, combined with the acquisition of interests in multiple nearby tungsten deposits at Bonya, was a major step forward for Thor Mining While the share price it settled back again relatively quickly, possibly reflecting general weakness in junior resource stocks in London.

Outlook 2019 China tungsten industry, the tungsten melting technology and product quality has reached word’s advanced level. Tungsten industry towards to high-end direction. Carbide process technology and equipment level continue to improve. The gap between product quality, grade and market competitiveness with foreign advanced enterprises has been narrowed. It is tend to high performance, high precision, high add-on direction, and getting close to the world tungsten industry.

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

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

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