The global Sodium Tungstate market is expected to reach US$ 125.25 million by 2023 and reaching a market size of US$ 229.3 million by 2030, at a CAGR of 5.2% during the forecast period, this growth can be attributed to the continuous advancements in various industries, the increasing demand for tungsten and its products, and the rising awareness regarding energy-efficient technologies.

An inorganic substance with the chemical formula Na2WO4 is sodium tungstate. It is produced by treating tungsten ores with sodium compounds, such as carbonate or hydroxide. It is a crystalline solid with a white tint that is soluble in water. It functions as a catalyst in the oxidation of alcohols into ketones or aldehydes and the epoxidation of alkenes. It is also used as an alkaloid precipitating agent, in the analysis of serum protein and serum protein-free filtrate, and in the production of metal tungsten, tungstate, and tungsten oxide, as well as waterproof and fireproof fabrics.

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The rising demand for tungstate as an antidiabetic and anti-obesity agent in the quickly expanding medical industry is what is fueling the growth of the global sodium tungstate market. However, fluctuations in the cost and availability of raw materials impede market expansion. Expanding application scope is anticipated to offer market expansion prospects.

The Sodium Tungstate market is poised for significant growth over the next seven years, driven by rising demand across various industries. This white, crystalline powder is crucial for producing tungsten, a metal with exceptional strength, heat resistance, and electrical conductivity.

Key Benefits:

  • This report provides an extensive analysis of the current trends and emerging estimations & dynamics of the global sodium tungstate market.
  • Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
  • Detailed analysis of the industry based on the grade and end user industry help to understand the trending grade of sodium tungstate in the industry.
  • Porters Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network.
  • Extensive analysis of the market is conducted by following key product positioning and monitoring of top players within the market framework.

Key Takeaways:

  • The global sodium tungstate market is expected to reach US$ 125.25 million by 2023 and reaching a market size of US$ 229.3 million by 2030, at a CAGR of 5.2% during the forecast period.
  • The increasing demand for tungsten in various industries like electronics, automotive, aerospace, and defense is driving the market growth.
  • Rising awareness about energy-efficient lighting solutions like LED bulbs is further propelling the market.
  • Government initiatives promoting energy-efficient technologies are anticipated to fuel the market's expansion.
  • The Asia Pacific region is expected to be the largest market due to the increasing demand for tungsten in the region's developing economies.

Regional Outlook:

  • Asia Pacific: Dominates the market due to the booming electronics and automotive industries in countries like China, India, and South Korea.
  • North America: Significant market share due to the well-established aerospace and defense industries.
  • Europe: Significant market presence due to the established electronic and automotive industries.
  • Latin America: Expected to show significant growth due to the expanding electronics and automotive industries.
  • Middle East & Africa: Expected to experience moderate growth due to the rising demand for tungsten in the construction and infrastructure sectors.

Key Players:

  • China Tungsten High-Tech Group Co., Ltd.
  • Jiangxi Tungsten Industry Group Co., Ltd.
  • Xiamen Tungsten Co., Ltd.
  • Hunan Xiangjiang New Material Technology Co., Ltd.
  • Alfa Aesar
  • American Elements
  • ChemWerth GmbH
  • Rio Tinto Group
  • Wolfram Bergbau und Hütten AG
  • General Electric Company

Market Segmentation:

By Application:

  • Catalyst
  • Permanent Chemical Modifier
  • Anti-obesity Agent
  • Anti-diabetic Agent
  • Others

By Channel Participants:

  • Metal Industry
  • Research Laboratories
  • Textile Industry
  • Others

By Region:

  • Asia Pacific
  • North America
  • Europe
  • Latin America
  • Middle East & Africa

By End User:

  • Electronics Industry
  • Automotive Industry
  • Aerospace Industry
  • Defense Industry
  • Construction Industry
  • Others