The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of Tungstic Acid. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Tungstic Acid Market across various industries and regions.
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Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the tungstic acid market during the forecast period.
Country-specific valuation on demand for tungstic acid has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of tungstic acid, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of tungstic acid has been brought with the help of a detailed dashboard view.
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Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Tungstic acid is an essential element for manufacturing zinc pyrithione. This acid is used as a catalyst in stage-1 manufacturing of zinc pyrithione. Zinc pyrithione is an essential intermediate used in manufacturing anti-dandruff shampoos. According to Fact.MR insights, over the past-half decade, the zinc pyrithione market has expanded at a CAGR of more than 3%, and is set to progress at a higher CAGR over the coming years. This is set to have a domino effect on the growth of the global tungstic acid market, which is set to close in on a valuation of US$ 50 Mn by 2031-end.
Despite disruptions observed over the period of Q2 and Q3 of FY2020, the market is on the path of recovery and is set to reach its normal growth phase by Q2 of FY2021. Strong growth of tungstic acid demand for zinc pyrithione is anticipated to be observed by the end of Q2 of FY2022.
Key Takeaways from Market Study
- The tungstic acid market is anticipated to create a value opportunity of around US$ 13.5 Mn over the forecast period of 2021 to 2031, adding 1.4X value as compared to 2021.
- The catalysts segment is set to dominate the demand pie of tungstic acid, and will maintain its stance over the long-run forecast period.
- Among the functions, intermediates have been the fastest-growing segment, owing to rise in consumption from chemical and textile industries over the past half-decade.
- In 2021, East Asia, especially China, will have supply dominance of tungstic acid, a trend that is set to continue till the end of the forecast period
- 2N has been an extensively used grade of tungstic acid over the past-half decade.
- The markets in the U.S., China, and India are projected to expand at a CAGR of around 4% each through 2031.
“Economies of density and transportation of tungstic acid in China to stabilize prices over the medium-term forecast period,”says a Fact.MR analyst.
Strong Pricing Strategy over Medium-term Forecast Period
Key players in the market have been under the umbrella of a conservative stance, where they are hardly investing and moving forward with respect to production growth rate. This is set to create product deficit and spike prices over the coming years.
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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More Valuable Insights on Tungstic Acid Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Tungstic Acid, Sales and Demand of Tungstic Acid, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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