LONDON--(BUSINESS WIRE)--Technavio’s market research report on the global tungsten market provides an analysis of the important trends that are expected to impact the market outlook from 2018-2022. Technavio anticipates an emerging trend to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global tungsten market will grow at a CAGR of almost 6% during the period 2018-2022. One of the key factors driving the market’s growth is the presence of vast reserves of tungsten ores in China. China is a major producer of Tungsten and accounts for approximately 75% of the global output. The country ranks first with 1,900,000 metric tons of reserves and contributes to 60% of the global tungsten reserves. China is the largest producer, consumer, and exporter of tungsten across the globe.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio highlights the miniaturization of electronic components as one of the key emerging trends in the global tungsten market:
Miniaturization of electronic components
In the recent years, advances in semiconductors and shift to ICs have led manufacturers to produce small electro-mechanical components. Numerous industries, including aerospace, require miniaturized and lightweight electronic components because they are cost-effective and increase the functionality. Advanced materials such as tungsten are popularly used for manufacturing 3D ICs.
“In 3D circuit integration technology, ICs are vertically stacked through dense 3D electrical interconnections. These interconnections are made with tungsten plugs because they improve latency, power consumption, and memory bandwidth. Furthermore, these tungsten plugs are used extensively in the complementary metal-oxide semiconductor to enhance efficiency,” says a senior analyst at Technavio for research on metals and minerals.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global tungsten market segmentation
This market research report segments the global tungsten market into the following products (hard metals, steel and alloys, and mill products) and key regions (APAC, Europe, North America, and ROW).
By product, the hard metals segment held the largest market share in 2017, accounting for nearly 59% of the market. This product segment is anticipated to post steady growth during the forecast period.
APAC led the global tungsten market in 2017, contributing to a market share of more than 70%. This region will dominate the global market throughout the forecast period.
Save big with Technavio this May!
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.