Market Overview:
The global tungsten strip market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for tungsten strip from various end-use industries, such as aerospace, chemical industry, mechanical and others. In terms of type, 2N segment is expected to hold a major share in the global tungsten strip market during the forecast period. However, 3N segment is projected to grow at a higher CAGR owing to its properties such as high strength and hardness. In terms of application, aerospace segment is projected to hold a major share in the global tungsten strip market during the forecast period.
Product Definition:
A Tungsten Strip is a thin piece of metal that is used in a variety of industrial and commercial applications. It is made from tungsten, which is a very strong and durable material. The strip can be used for making electrical contacts, as well as in heating elements and other types of equipment.
2N:
2N is the natural logarithm of number 2. It is a positive whole number and has no decimals. It can be represented by the symbol N or ln(2). As there are no other whole numbers with a factor 4, it’s used in many applications such as electronic components, chemical compounds, etc.
It’s also known as octillionth power or 8-Kilo Power (abbreviated OKP).
3N:
3N is the term used for tungsten which has been extracted from the earth at a particular angle. The more common form of 3N tungsten is known as straight run tungsten or SRT, and it's shape is usually like a bar with three distinct sections.
Application Insights:
Aerospace was the largest application segment in 2017 and is projected to maintain its lead over the forecast period. Tungsten strips are used in a variety of aerospace applications, such as structural components, fasteners, bearings and bushings for aircraft interiors. In addition, they are also used as an alternative material to aluminum extrusions in various aircraft applications due to their high strength-to-weight ratio.
The chemical industry is estimated to be one of the fastest growing segments over the forecast period owing to increasing demand from various industrial sectors including power generation and oil & gas industries. Tungsten strips have excellent resistance against corrosion which makes them suitable for use in chemical processing plants where there is considerable exposure towards acids or bases that could eat away at other metals or alloys over time.
Regional Analysis:
Asia Pacific was the dominant regional market in 2017 and accounted for a share of over 50% of the global revenue. The region is expected to witness significant growth in aerospace industry on account of increasing passenger traffic, coupled with rising disposable income. In addition, growing manufacturing sector is likely to drive tungsten strip demand over the forecast period.
North America emerged as the second-largest consumer and is anticipated to grow at a CAGR close to 4% from 2018 to 2030 owing to high consumption levels in various applications such as chemical, mechanical and others. Growing investments by major companies for R&D activities are projected favorably impact product demand over next eight years.
Growth Factors:
- Increasing demand from the automotive and aerospace industries for tungsten strip as a result of its high strength-to-weight ratio and corrosion resistance.
- Growing demand for tungsten strip in the electronics industry due to its superior thermal conductivity and electrical resistivity properties.
- Rising consumption of tungsten strip in the medical industry due to its biocompatibility and non-toxicity properties.
- Increasing use of tungsten strip in energy generation applications such as solar photovoltaics (PV) and wind turbines owing to its high melting point and good heat dissipation characteristics.
- Technological advancements that have led to the development of new applications for tungsten strip, such as 3D printing
Scope Of The Report
Report Attributes
Report Details
Report Title
Tungsten Strip Market Research Report
By Type
2N, 3N, 4N, 5N
By Application
Aerospace, Chemical Industry, Mechanical, Others
By Companies
American Elements, Eagle Alloys Corporation, Best Tungsten Metal, Scientific Instrument, T&D Materials, EJ Carbide, MI-Tech, Zhuzhou Eastern Carbide Co., Ltd., Hexon Metal Technology, All Metal Sales,Inc.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
199
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.
Global Tungsten Strip Market Report Segments:
The global Tungsten Strip market is segmented on the basis of:
Types
2N, 3N, 4N, 5N
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Aerospace, Chemical Industry, Mechanical, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- American Elements
- Eagle Alloys Corporation
- Best Tungsten Metal
- Scientific Instrument
- T&D Materials
- EJ Carbide
- MI-Tech
- Zhuzhou Eastern Carbide Co., Ltd.
- Hexon Metal Technology
- All Metal Sales,Inc.
Highlights of The Tungsten Strip Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 2N
- 3N
- 4N
- 5N
- By Application:
- Aerospace
- Chemical Industry
- Mechanical
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Tungsten Strip Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Tungsten strip is a thin, metal sheet that has been cut into narrow strips. It is used to create electrical connections between different parts of an electronic device.
Some of the key players operating in the tungsten strip market are American Elements, Eagle Alloys Corporation, Best Tungsten Metal, Scientific Instrument, T&D Materials, EJ Carbide, MI-Tech, Zhuzhou Eastern Carbide Co., Ltd., Hexon Metal Technology, All Metal Sales,Inc..
The tungsten strip market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Tungsten Strip Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Tungsten Strip Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Tungsten Strip Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Tungsten Strip Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Tungsten Strip Market Size & Forecast, 2020-2028
4.5.1 Tungsten Strip Market Size and Y-o-Y Growth
4.5.2 Tungsten Strip Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 2N
5.2.2 3N
5.2.3 4N
5.2.4 5N
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Aerospace
6.2.2 Chemical Industry
6.2.3 Mechanical
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Tungsten Strip Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Tungsten Strip Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 2N
9.6.2 3N
9.6.3 4N
9.6.4 5N
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Aerospace
9.10.2 Chemical Industry
9.10.3 Mechanical
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 2N
10.6.2 3N
10.6.3 4N
10.6.4 5N
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Aerospace
10.10.2 Chemical Industry
10.10.3 Mechanical
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 2N
11.6.2 3N
11.6.3 4N
11.6.4 5N
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Aerospace
11.10.2 Chemical Industry
11.10.3 Mechanical
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 2N
12.6.2 3N
12.6.3 4N
12.6.4 5N
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Aerospace
12.10.2 Chemical Industry
12.10.3 Mechanical
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 2N
13.6.2 3N
13.6.3 4N
13.6.4 5N
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Aerospace
13.10.2 Chemical Industry
13.10.3 Mechanical
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Tungsten Strip Market: Competitive Dashboard
14.2 Global Tungsten Strip Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 American Elements
14.3.2 Eagle Alloys Corporation
14.3.3 Best Tungsten Metal
14.3.4 Scientific Instrument
14.3.5 T&D Materials
14.3.6 EJ Carbide
14.3.7 MI-Tech
14.3.8 Zhuzhou Eastern Carbide Co., Ltd.
14.3.9 Hexon Metal Technology
14.3.10 All Metal Sales,Inc.
