The latest research report published by Fact.MR on the Survey of Tungstic Acid Market is intended to offer reliable data on various key factors shaping the growth curve & outlook of Tungstic Acid market. This report works as a rich source of information for key entities such as policy makers, end-use industries, investors, and opinion leaders.
The Demand analysis of Tungstic Acid Market offers a comprehensive analysis of diverse features, demand, product developments, revenue generation, and sales of Tungstic Acid Market across the globe.
Key heighlights – The global tungstic acid market is anticipated to progress at a moderate CAGR of over 3% from 2021 to 2031,and reach a market valuation of close to US$ 50 Mn by 2031-end.
Tungstic Acid Market: Overview
Tungstic acid has myriad functions in a majority of manufacturing industries. It is used as a mordant, analytical reagent, catalyst, water treatment agent, manufacture of fireproof and waterproof materials, phosphotungstate, boron tungstate, etc
Tungstic acid hold huge potential in the global catalyst market with a competitive value market share over other catalyst substitutes available in the market. Moreover, extensive application of tungstic acid as a reagent will be witnessed over the long-run forecast period.
Apart from its application in the chemical industry, it is used to manufacture ammonium paratungstate, which, in turn, is used to manufacture a bundle of tungsten products ranging from tungsten powders, wires, sodium tungstate, and others.
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A comprehensive estimate of the Demand of Tungstic Acid market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the Sales of Tungstic Acid during the forecast period. Price point comparison by region with the global average price is also considered in the Survey study of Tungstic Acid market.
The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into Sales revenue estimations and projections in the Market Insights of Tungstic Acid.
Key stakeholders in Tungstic Acid Market including industry players, policymakers, and investors in various countries have been continuously realigning their strategies and approaches to implement them in order to tap into new opportunities.
The Market survey of Tungstic Acid offers a comprehensive analysis of diverse features, including production capacities analysis &Insights of Tungstic Acid Market, demand of Tungstic Acid market, product developments, revenue generation, and Size of Tungstic Acid Market across the globe.
Historical Trends Vs Future Projections
From 2016 to 2020, the global tungstic acid market experienced a sluggish CAGR of 1.7%, with the chemical industry, especially catalysts for the production of zinc pyrithione, driving overall growth. Deep dive historical analysis with key insights driving the demand and supply of tungstic acid has been provided in the published report of Fact.MR
COVID-19 has been observed as an unexpected barrier where manufacturers failed to brace up and ended with high inventory volumes and lower sales over Q2 and Q3 of FY2020. Moreover, reduced shelf life and reduced procurement of older batches negatively affected sales of firms post restarting of industries across the regions.
With the restarting of industries across the globe, tungstic acid demand has picked pace and is set to reach a nominal growth rate by Q2 of FY2021. Moreover, recovery of the personal care industry has cascaded the effect to personal care active ingredients, which include zinc pyrithione, providing a domino effect to the tungstic acid industry.
Post COVID era, the market can be bifurcated into three periodic terms – short-term, medium-term, and long-term forecast period.
- Short-run: Recovery of the market is set to be observed by Q2 of FY2021, and nominal growth is set to be observed till Q3 of FY2022.
- Medium-run: Price moderation and anticipated entrance of the product in oil & gas as a phase transfer agent is set to be observed over this period.
- Long-run: Inflation rates in addition to spike in market set prices of tungstic to affect demand of the product over the long-run forecast period.
Key Highlights from the Insights Report of Tungstic Acid Market:
- Elaborated scenario of the parent market
- Transformations in the Demand of Tungstic Acid market dynamics
- Detailed segmentation of the target market.
- Historical, current and forecast of Tungstic Acid market size based on value and volume
- Latest industry developments and Market trends of Tungstic Acid
- competitive analysis of Tungstic Acid Market
- Strategies adopted by the Tungstic Acid market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on market size of Tungstic Acid
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
Key Market Segments Covered in Report
· Product Type
- Tungstic Acid Monohydrate
- Tungstic Acid Dihydrate
- Chemical Production
- Tungsten Products
- Textile Production
- North America
- East Asia
- South Asia & Oceania
- Rest of the World
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What are the Main Trends in the Tungstic Acid Landscape?
Tungstic acid is an essential element used in manufacturing zinc pyrithione. It acts as a catalyst for the same. The ratio of the catalyst used in manufacturing zinc pyrithione is 1:40 or 1:50 depending on the manufacturer’s capability of producing zinc pyrithione.
Assessing the overall market potential of zinc pyrithione, the market has burgeoned at a high CAGR over the past half-decade. Extensive utilization, being an integral part of the personal care active ingredients industry, has helped the market undergo rapid growth.
Zinc pyrithione market growth has a proportional effect on the demand for tungstic acid. Tungstic acid is an essential component used in stage-1 of manufacturing this essential industrial chemical, and has not been substituted by any other product.
Over the medium- and long-term forecast period, the probability of finding a better substitute for tungstic acid as a catalyst in manufacturing zinc pyrithione is low. Therefore, rising production of zinc pyrithione is set to have a direct impact on demand for tungstic acid.
Which Regions have Greater Potential for Tungstic Acid Sales?
East Asia, especially China has substantial supply of tungsten and tungstic acid. Presence of key suppliers of tungsten and tungstic acid manufacturers in country is favoring the economies of density in the country.
Apart from the front-end analysis of the supply chain of tungstic acid, tail end of the supply chain also has strong concentration in the region of East Asia, with major suppliers and distributors of tungstic acid in the region.
Presence of major consumers such as zinc pyrithione, dye/mordant manufacturers in the region will complement demand growth for tungstic acid over the forecast period in the region.
Apart from growing potential of tungstic acid across applications in the region, key factors describing the price trends and product policy structure in the region have been provided in detail in the report by Fact.MR.
Some Notable Offerings by Fact.MR Report on Tungstic Acid market:
- We will provide you an analysis of the extent to which this Outlook of Tungstic Acid market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
- We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
- Also, Outlook of Tungstic Acid market research report will help you to identify any trends to forecast growth rates.
- The analyzed report will forecast the general tendency for supply and demand of Tungstic Acid market.
Why is China Dominating Global Tungstic Acid Production?
China has strong tungsten mine producing capacity (69 Kilo Tons in FY2020), and holds more than 80% of global tungsten supply across the globe. Apart from tungsten supply domination by the country, tungsten product manufacturing also captures a major share as compared to other countries.
This leads us to a conclusion that the local market is supported by the economies of density and transportation.
Also, the above reasons reflect the positioning key manufacturers of tungstic acid in the country, such as Ganzhou CF Tungsten, to be a prime factor for market growth.
Why is India Speculated to Become a Hub for Tungstic Acid Demand?
Over the past-half decade, India has picked pace in the chemical industry and is set to become a leader in the Asian market in terms of growth. Rising Foreign Direct Investment (FDI) in India, post-COVID era, will create strong demand waves across domains, including the catalyst and textile dye industries. Impact on these industries will cascade the effect to the tungstic acid market.
In the published report by Fact.MR, India has been emphasised as one of the key countries, and deep insights about pricing, current trends, and other factors have been provided in detail.
How Fact.MR Assists in Making Strategic Moves For Tungstic Acid Market Manufacturer?
The data provided in the Survey Report of Tungstic Acid market offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.
Some of the Tungstic Acid Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:
- Details regarding latest innovations and development in Tungstic Acid and how it is gaining customer traction during the forecast period.
- Analysis about the customer demand of the products and how it is likely to evolve in coming years.
- Latest regulations enforced by government bodies and local agencies and their impact on Demand of Tungstic Acid Market .
- Insights about adoption of new technologies and its influence on the Tungstic Acid market Size.
- Overview of the impact of COVID-19 on Tungstic Acid Market and economic disruptions caused by the pandemic.
- Evaluates post-pandemic impact on the Sales of Tungstic Acid Market during the forecast period.
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Why is the Textile Industry Anticipated to Create Demand Waves for Tungstic Acid?
Tungstic acid has a good track record in the chemical industry for its extensive usage in manufacturing dyes and mordants. Tungstic acid is used along with phosphoric acid to create a compound – phospo-tungstic acid.
Tungstic acid composition is comparatively low owing to the cost of the product. Moreover, tungstic acid is recovered from the spent solution and is used multiple times for dyeing fabric. The textile industry is the backbone for tungstic acid demand, as the industry uses this as a mordant substance and intermediate material in dyeing wool.
Tungstic acid is used as a coloring agent while dyeing the fabric. Along with its coloring property, it also imparts heavy weight, which is desired in fabric production. After mixing it with the fabric, tungstic acid gives waterproofing and fireproofing properties to the fabric.
This fabric can be made of rayon or fireproof rayon. The purpose of using tungstic acid in textiles is to provide proper texture and enhance the weighing property of fabric. All in all, growth of the textile industry is set to bolster demand for tungstic acid over the coming years.
They are adopting business strategies such as sales contracts, strategic alliances, acquiring technical expertise, product approvals, patents and events, joint ventures, partnership agreements, collaborations, digital marketing, mergers and acquisitions, capacity utilisations, technological advancements etc to lead the global market for tungstic acid with largest market share.
For instance, H. C. Starck Tungsten Powders, a subsidiary of Masan High-Tech Materials, is researching technology to recycle cobalt from scrap metal. The project is intended to lead to a pilot process within two years.
Leading corporations including Mubychem, H.C. Starck, Almonty Industries, Helix Multichem, Otto Chemie Pvt Ltd, Tomiyama Pure Chemical and others are making high investments in the establishment of research institutes in different regions to come up with improvements in their offerings.
The innovative project is being funded by the German State of Lower Saxony with a contribution of €800,000. The company has recycled a tungsten for many decades and has expertise in recovering cobalt. The main aim of the current project is to replace the traditional process with a comparatively more efficient process.
After reading the Market insights of Tungstic Acid Report, readers can:
- Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
- Analyze key regions holding significant share of total Tungstic Acid market revenue.
- Study the growth outlook of Tungstic Acid market scenario, including production, consumption, history and forecast.
- Learn consumption pattern and impact of each end use & supply side analysis of Tungstic Acid market .
- Investigate the recent R&D projects performed by each market player & competitive analysis of Tungstic Acid Market Players.
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