The global tungsten market is expected to develop rapidly in the next few years, which will mainly benefit from the application potential of tungsten products in many industries such as automobiles, aerospace, mining, defense, metal processing, and oil and gas. Some research reports predict that by 2025, the global tungsten market share will exceed 8.5 billion US dollars.

Tungsten is a key strategic resource and the refractory metal with the highest melting point. It is widely used in the production of various alloys such as high-speed steel and tool steel, as well as the production of drill bits and cutting tools with excellent properties such as high temperature resistance and wear resistance. Preparation of carbide raw materials. In addition, pure tungsten is one of the important raw material components in the electronic field, and its derived sulfides, oxides, salts and other products are also widely used in the chemical field to produce efficient catalysts and lubricants. With the vigorous development of the global economy, the wide application of tungsten products in many industries may promote the development of the global tungsten market.

The electronics industry is one of the key end application areas that promote the expansion of the tungsten market. The report predicts that the global electronics industry will achieve tremendous growth in the next few years. By 2020, revenue is expected to exceed 150 billion US dollars. Increasing technological innovation is the main factor driving the growth of the electronics industry. Technological advancements such as printed circuit board technology and miniaturization functions are likely to stimulate the demand for electronic products in the next few years. This will promote the development of the tungsten industry in the future. According to the report, tungsten products have huge application potential in the electronic field. It is estimated that by 2025, the tungsten market used in the field of electronic and electrical terminal consumption is expected to achieve a compound annual growth rate of 8%. Due to its low vapor pressure and high melting point, tungsten is an important part of the manufacturing process of many electronic products, such as radiators, bulbs, electrical contacts, X-ray tubes, and vacuum tube filaments.

From the perspective of application prospects, the tungsten industry is divided into the fields of tungsten carbide, metal alloy and fine grinding products. The report predicts that by 2025, the growth rate of the metal alloy and tungsten carbide sectors will exceed 8%. The vigorous development of the manufacturing and automotive industries in the Asia-Pacific region is the main driving force for the growth of the tungsten market in these sectors. The growth rate in the field of fine grinding products is relatively slow, and the main growth comes from the electronics industry.

The automotive parts sector plays a key role in increasing the share of the global tungsten market. The report predicts that by 2025, the compound annual growth rate of the tungsten market in this field will exceed 8%. Tungsten is widely used in automobile manufacturing and assembly. Tungsten-based alloys, pure tungsten or tungsten carbide are often used as tire studs (studded snow tires), brakes, crankshafts, ball joints, and others exposed to severe temperatures in high-performance vehicles Or mechanical parts that are heavily used. As the demand for advanced automobiles continues to grow, the development of manufacturing will stimulate the development of product demand.

Another major terminal application field that promotes global market-free development is the aerospace field. The report predicts that by 2025, the compound annual growth rate of the tungsten market in the aerospace industry will exceed 7%. The vigorous development of the aircraft manufacturing industry in developed regions such as Germany, the United States, and France is expected to boost the demand for the tungsten industry.