Tungsten Oxide Market

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. Tungsten trioxide is also used as a pigment in coatings, paints, and ceramics due to its rich yellow color. In addition, tungsten trioxide has also proven useful in the production of smart windows or electro chromic windows. Smart windows are essentially electrically switchable glass that can alter its light transmission properties when a certain voltage is applied. This allows the user to obtain the desired level of tint on their windows by deciding how much light they want passing through. Tungsten dioxide is manufactured by reduction of tungsten trioxide with tungsten powder over the course of several hours at a very high temperature.

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.

Key Benefits

• This report provides a quantitative analysis of the current trends, estimations, and dynamics from 2016 to 2023 to assist in identifying the prevailing market opportunities.
• Major countries in each region are mapped according to the individual market revenue.
• The region-wise and country-wise tungsten oxide market conditions are comprehensively analyzed.
• This study evaluates the competitive landscape and the value chain analysis to understand the competitive environment across geographies.
• The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.

 Tungsten Oxide Market Report Highlights