Copper Tungsten Market Size, Share, Growth, and Industry Growth by Type (WCu 65/35, WCu 70/30, WCu 75/25, WCu 80/20, WCu 85/15, WCu 90/10, and Others), By Application (High Voltage, Electrical Switch, Welding and EDM, Aerospace, Electronic Packaging & Heat Sink, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Copper Tungsten Market REPORT OVERVIEW

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The global copper tungsten market size was USD 102.1 million in 2021 and is projected to touch USD 181.35 million in 2031, exhibiting a CAGR of 5.9% during the forecast period.

copper tungsten is a metal alloy. It has properties of both tungsten and copper. The metals are dense, very hard, and corrosion material. It is perfect for producing multiple types of products such as brake discs & linings, abrasives, and electrical contacts.

Growing demand from automotive sectors is estimated to surge market growth. Increasing demand from telecommunications and energy & power sectors is projected to boost product adoption. Rapid industrialization and urbanization are predicted to accelerate market growth during the forecast period. Growing demand for power tools is projected to drive market growth. The product has excellent feature such as heat sinks which is anticipated to surge market growth. Rising awareness about the benefits of the product in industrial activities is expected to fuel market growth. Increasing automobile sales and electronic devices globally are projected to boost product demand during the forecast period.

COVID-19 Impact: Closer of Industrial Activities to Reduce Metal Adoption

An outbreak of COVID-19 impacted market growth due closer of several industries. Lack of production activities hampered product demand. Lack of resources and labor halted import and export activities. Ban on transportation and movement reduced product demand. Closer of mining and welding sectors hampered market growth.

On the contrary, electronic industry showed positive growth which boosted market growth. Post COVID-19, the market is showing a positive response due to growing from end-user industries.

LATEST TRENDS 

"Growing Demand from Automotive Industry to Foster Market Expansion"

Growing demand for automotive industry is predicted to fuel market growth. Increasing usage of the product in automotive industries for its density is projected to boost product adoption. The product is extensively used for manufacturing various components such as spark plugs, brake discs & linings, and engine bearings. Such advantages of the product in automotive industry are estimated to propel copper tungsten market growth. Further, the product offers better performance in the vehicles, which is expected to fuel market growth. The metal has a lower cost as compared to aluminum or steel counterparts. Such benefits are predicted to grow product adoption during the forecast period. Increasing automobile sales globally is projected to drive product demand.

Copper Tungsten Market SEGMENTATION

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• By Type

Based on type, the market is divided into WCu 65/35, WCu 70/30, WCu 75/25, WCu 80/20, WCu 85/15, WCu 90/10, and others.

 WCu 70/30 is estimated to be the leading part of type segmentation.

• By Application

High voltage, electrical switch, welding and EDM, aerospace, electronic packaging & heat sink, and others.

Welding and EDM are estimated to be the leading part of application segmentation.

DRIVING FACTORS

"Growing Demand for Electronic Products to Incite Market Growth"

Growing demand for electronic products such as laptops, smartphones, wearable electronic devices, and tablets are estimated to boost market growth. The product is widely used in the electronic industry for its dense, very hard, and corrosion material properties. Such benefits of the product are estimated to fuel market growth. The product has a strong thermal conductivity which is extensively used in the electronic industry and is projected to drive market growth. Further, it has electrical resistance and ballistic impact energy which is predicted to accelerate market growth. Increasing demand for power tools is anticipated to surge market growth during the forecast period. Growing electronic product sales globally are projected to drive copper tungsten market growth.

"Benefits of the Metal to Accelerate Market Growth "

Copper tungsten has good conductivity and resistance which is estimated to increase market growth. The product is extensively used in welding for its resistance properties. The metal is a good choice for a vacuum contact which is projected to drive market growth. It has a low cost compared to aluminum or steel is predicted to accelerate market growth during the forecast period. The metal has high thermal conductivity and low-expansion characteristics. Such advantages are predicted to fuel copper tungsten market growth. Further, it has high-temperature strength, good electrical, high-temperature resistance, and thermal conductivity. Such advantages of the metal are anticipated to drive market growth during the forecast period.

"Growing Demand for Telecommunication to Stimulate Market Growth "

Increasing demand for telecommunication is expected to propel market growth. Growing demand for strong telecommunication requires good electrical circuits which are projected to drive market growth. The product has a high thermal conductivity which is extensively used in electric circuits and is predicted to surge market growth.  Growing industrialization and urbanization are projected to drive market copper tungsten growth during the forecast period. Increasing research and development activities associated with the metal is anticipated to propel product demand.

RESTRAINING FACTORS

"Lack of Awareness of the Product to Hamper Market Growth "

Lack of awareness of the product is estimated to hamper market growth. Fluctuation of raw materials prices is expected to reduce product demand during the forecast period.

Copper Tungsten Market REGIONAL INSIGHTS

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"Presence of Manufacturing Units in North America to Drive Market Share "

North America is estimated to hold the largest part of copper tungsten market share due to presence of manufacturing units. Increasing demand from end-use industries such as electronics & energy, automotive, and power industries is expected to fuel market growth. Rapid industrialization and urbanization are predicted to accelerate market growth during the forecast period. Growing demand for power tools is projected to drive market growth. The product has excellent feature such as heat sinks which is anticipated to surge market growth. Rising awareness about the benefits of the product in industrial activities is expected to fuel copper tungsten market growth.

Europe is expected to show considerable market growth due to increasing demand for energy & power. Growing demand from automotive and electronic industry is projected to drive market growth. Growing investment for development in industrial activities is expected to accelerate market growth during the forecast period.

KEY INDUSTRY PLAYERS

"Leading Players Adopt Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the Industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Sumitomo Electric (Japan)
• Advanced Technology & Materials (China)
• Plansee (Australia)
• Xi’an Huashan Tungsten Products (China)
• Mi-Tech Tungsten Metals (China)
• HOSO METAL (China)
• CHEMETAL USA (U.S.)
• Taizhou Huacheng (China)
• Baoji Hanz Metal Material Co., Ltd (China)
• AMERICAN ELEMENTS (U.S.)
• Mosten Alloy Co.,Ltd (China)
• Seunglim Electric Co.,Ltd (China)
• Shenyang Top New Material (China)
• Runchang New Materials (China)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.