ResearchMoz presents professional and in-depth study of “Global Tungsten Market (By End-Use Application, By End-User Industries, By Region, By Country): Trends, Opportunities and Forecasts (2016-2021) – By End-Use Application (Hard Metals, Mill Products, Steel and Alloys, Chemicals, Others); By End-User Industries (Automotive, Mining, Construction, Oil & Gas, Aerospace & Defense, Medical); By Region (North America, Europe, APAC, ROW); By Country (U.S., Canada, U.K., Germany, China, India, Japan, Brazil, Saudi Arabia)”.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of global tungsten market on the basis of End-Use Application (Hard Metals, Mill Products, Steel and Alloys, Chemicals & Others), By End-User Industries (Automotive, Mining, Construction, Oil & Gas, Aerospace & Defense and Medical), By Region (North America, Europe, APAC and ROW) and By Country (U.S., Canada, U.K., Germany, China, India, Japan, Brazil and Saudi Arabia).
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Global Tungsten Market is forecasted to grow at a CAGR of 4.25% during 2016 2021. Strong growth in tungsten market is driven by the surging demand for downstream tungsten products in varied end-user sectors including automotive, industrial engineering, energy, and aviation. Apart from that, the uncovering of the wide range of applications in allied industries like medical, defense and electric and electronic, has been impelling growth in the tungsten market.
Although, hard metals hold the major percentage share in the total tungsten market in the present, consumption of tungsten for mill products is projected to display a faster growth in the future owing to the increasing application in high growth electronic and construction industries. Regionally, tungsten demand growth is likely to be the fastest in the Asia Pacific region against the backdrop of economic growth in emerging markets. Developed regions of North America and Europe are expected to display a steady paced growth, mainly due to high expenditure in automotive and engineering sectors.