Tungsten has several oxidation states and oxides. Each tungsten oxide has a specific characteristic and feature. It is used in the manufacture of tungstate for fireproofing fabrics, for x-ray screen phosphors, and in gas sensors.
Portland, OR -- (SBWIRE) -- 08/28/2017 -- The growth in end user industries is expected to increase the consumption of tungsten oxide. The growth in medical and firefighting industry is further expected to boost the global tungsten oxide market. In addition, rise in consumption of semi-conducting compounds in the emerging economies such as Asia-Pacific and LAMEA coupled with presence of major manufacturers of tungsten compounds in China owing to availability of cheap labor, infrastructure, and attractive government policies are some other major aspects that fuel the growth of the global tungsten oxide market. Republic of Korea, India, Vietnam, Malaysia, Cambodia, Australia, New Zealand, and Sri Lanka are other major consumers of tungsten oxide in Asia-Pacific. North America and Europe are mature markets and are expected to experience moderate growth. However, availability of substitutes and fluctuating raw material prices hamper the market.
The global tungsten oxide market can be segmented on the basis of type, application, and geography. On the basis of type, the market is bifurcated into tungsten trioxide and blue tungsten oxide. On the basis of application, it is classified into metal, fireproof fabric, colorant, analysis reagents, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global market focus on key market strategies such as mergers, acquisitions, collaborations, and partnerships. They also focus on strengthening their market reach to maintain their goodwill in the ever competitive market.
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Tungsten Oxide Market Key Segments:
- Tungsten Trioxide
- Blue Tungsten Oxide
- Fireproof Fabric
- Analysis Reagents
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