Microalloyed Steel Market: Information by Category (Weathering Steel, Micro-Alloyed Ferrite Pearlite Steel), Process (Hot Rolled), Application (Construction), and Region — Forecast till 2029

Easily access valuable industry resources now with full access to the digital edition of Canadian Fabricating & Welding.

Easily access valuable industry resources now with full access to the digital edition of Canadian Metalworking.

Tungsten has the highest melting point of any metal element, a density that is close to that of gold, a hardness that is very high, and a tungsten carbide hardness that is almost as hard as diamond. In addition, tungsten is frequently used in alloys, electronics, and the chemical industry and has an excellent electrical and thermal conductivity in addition to having a low coefficient. Since tungsten has a very high hardness that is comparable to that of gold, it can increase the strength, hardness, and wear resistance of steel. It is a key alloying component and is used extensively in the production of all kinds of steel. High-speed steel, tungsten steel, and tungsten cobalt magnetic steel are common types of tungsten steel, and these steels are primarily used to create a variety of tools like drills, milling cutters, wire drawing dies, die and molds, etc. Wrought compounds, such as tungsten sulfide, which is used as a lubricant and catalyst in the synthesis of gasoline. Tungsten oxide, which is used in painting, and calcium or magnesium tungsten, which is used in fluorescent powder, are used as inorganic colors and catalysts. Because of its similar thermal expansion to borosilicate glass, it is used to create glass or metal seals. Tungsten is used to create high-purity tungsten jewelry because of its low sensitivity. In addition, some instruments will use tungsten wire, which was previously used in radioactive medicine.

The global tungsten market is anticipated to grow moderately in the LAMEA region over the forecast period. One of the main growth engines in Latin America is anticipated to be the manufacturing sector in Brazil and Argentina. Tungsten is a component of dyes and coatings used in the automotive industry. With 2.25 million vehicles produced in 2021, Brazil's automobile production increased by approximately 11.6%, demonstrating the range of uses for tungsten in the area. South Africa and Dubai have gained popularity as desirable travel destinations in the Middle East and Africa. The MEA's booming tourism industry is boosting the construction industry, which in turn is boosting market growth because tungsten is heavily used in drilling equipment and light bulb purchases.

These tools use a substrate that is capable of cutting low-carbon steel alloys and heat-resistant alloys. The submicron grade provides great toughness and wear resistance that offers machinists one grade that can be applied in many different applications.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

Tungsten Carbide Market : Information by Grade (General Purpose, Metal Forming and Wear, Submicron, Corrosion Resistant), Application, End-Use Industry, and Region — Forecast till 2030

Advanced Electrical Steel and Their Applications in Emerging Technologies will propel the Growth of the Global Electrical Steel Market

ISCAR is About to Change Metal Cutting…AGAIN. NEW Small 06 Square Inserts to be Mounted on Endmills for High Feed Machining

Keep up to date with the latest news, events, and technology for all things metal from our pair of monthly magazines written specifically for Canadian manufacturers!

Greenleaf Corp. has developed Greenleaf-360, a new line of high-performance solid-carbide end mills to complement the XSYTIN-360 line of solid-ceramic end mills.

They are available in four-, five-, and seven-flute configurations to perform full slotting and high-speed machining. Extended shank length options allow for effective completion of long-reach applications.

Electrical Steel Market: Information by Type (Grain Oriented, Non-Grain Oriented, and Others), Application (Inductors, Transformers), and Regions-Forecast till 2031

Image

The tungsten market is anticipated to expand significantly in Asia-Pacific over the course of the forecast period. Growth is fueled in the area by a wealth of natural resources, cheap labor, and open trade laws. One of the biggest producers of tungsten on the international market, China produced about 66000 metric tons of tungsten in 2021. Another area where tungsten is used is the consumer durables industry, which is being driven by growing purchasing power, social media influence, and marketing blitz. According to the COMTRADE database of international trade maintained by the United Nations, India's import of electronic goods was estimated to be worth approximately USD 56.73 billion in 2021.

Image

Large-Scale Residential Construction and Infrastructure Projects Account for the Lion’s Share of Consumption in the Steel Market

New York, United States, June 15, 2023 (GLOBE NEWSWIRE) -- Tungsten, also known as wolfram, is widely used in a variety of end-use industries due to its inherent properties, such as a high melting point, low vapor pressure, and high tensile strength. Furthermore, tungsten has high corrosion resistance and is thus resistant to acid attacks. Increasing investments in mining and construction activities, driven by technological innovation in machine equipment and the growth of the urban middle class, are expected to drive significant growth in global tungsten demand during the forecast period. On the other hand, tungsten carbide decomposes at higher temperatures, reverting to its original form as carbide and tungsten, which may limit the market growth.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

June 15, 2023 10:20 ET | Source: Straits Research Straits Research

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/tungsten-market/request-sample

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/tungsten-market/request-sample

The standard PVD coating creates a low coefficient of friction with a high-service-temperature range. This combination results in high wear resistance and allows for higher-speed capabilities, especially in heat-resistant alloys.

Metal Casting Market: Information by Process (Gravity, Sand Casting), Application (Body Assembly, Engine Parts), Material Type (Aluminium, Cast Iron), End-User, and Regions—Forecast Till 2031

Tungsten carbide is extremely resistant to wear and impact due to its strength, hardness, and toughness. Steel is being replaced by tungsten carbide in the mining industry because it increases tool life, cost-effectiveness, and productivity. Tungsten is predominantly used in blast hole drilling, haul road maintenance, bulk handling, mineral processing, longwall extraction, roof bolting, and room and pillar extraction. Tungsten carbide is one of the most long-lasting and cost-effective chemical compounds available for use in manufacturing. The material, which is made up of equal parts tungsten and carbon, is found in powder form and is then shaped using the sintering process. Tungsten Carbide has been used in machines with critical functionality for years due to its high tolerance for heat and pressure, and it is slowly making its way into the mining industry. Tungsten Carbides are used as tip attachments to reduce wear on the machine's metallic body when compared to simply using a metallic body. A down-the-hole drilling unit is more difficult to replace than a tip. Tungsten Carbides are used in the mining industry as small button inserts or large attachments.

Image

During the anticipated period, the Tungsten market is anticipated to expand rapidly in Europe. In logging equipment, as well as in the production of automotive parts, tooling, and die casting, tungsten is used as a counterweight. Being one of the most significant globally, the European automobile industry is anticipated to significantly contribute to the growth momentum, along with the rising demand for automobiles. According to figures provided by the European Automobile Manufacturers Association, over 9.9 million passenger cars will be produced in the EU in 2021. This demonstrates the enormous potential of materials like tungsten, which are used in the production of automobiles and their components.

The new end mills combine a proprietary flute design with a high-performance, carbide substrate for fast and efficient material removal with less stress induced into the part, the company states. A combination of strength, toughness, and heat resistance enables machining capabilities from roughing to finishing with extended tool life and better predictability.

North American region is the highest contributor to the market and is expected to grow at a healthy CAGR during the forecast period. North American market growth is anticipated to be fueled by economic stability in the United States and Canada. The United States was one of the largest mining countries, contributing about 11.5% of all mining activity worldwide, according to World Mining Data. Additionally, according to Select USA, the aerospace industry in the United States is one of the most competitive in the world and generated about USD 151 billion in revenue in 2018. The US Geological Survey estimates that mines in the US produced mineral commodities worth about $90.4 billion in 2021, an increase of $9.7 billion over the revised total of $80.7 billion in 2020. Other industrial mineral resources, natural aggregates, nonferrous and ferrous metals, and other non-fuel mineral commodities totaling $90.4 billion were produced by US mines in 2021. In 2021, the US was expected to produce industrial minerals worth $56.6 billion, or 63% of the total value of US mine production. With 21% of the value of all mine production, crushed stone was the first non-fuel mineral product produced in the United States in 2021. The USA's expanding mining sector will therefore fuel the global tungsten market over the course of the forecast period.