Global Tungsten Market - Miniaturization of Electronic Components to Promote Growth | Technavio
LONDON--(BUSINESS WIRE)--May 13, 2018--Technavio’s market research report on the provides an analysis of the important trends that are expected to impact the market outlook from 2018-2022. anticipates an emerging trend to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new market research report on the global tungsten market from 2018-2022. (Graphic: Business Wire)
According to Technavio market research analysts, the will grow at a CAGR of almost 6% during the period 2018-2022. One of the key factors driving the market’s growth is the presence of vast reserves of tungsten ores in China. China is a major producer of Tungsten and accounts for approximately 75% of the global output. The country ranks first with 1,900,000 metric tons of reserves and contributes to 60% of the global tungsten reserves. China is the largest producer, consumer, and exporter of tungsten across the globe.
In this report, Technavio highlights the miniaturization of electronic components as one of the key emerging trends in the :
Miniaturization of electronic components
In the recent years, advances in semiconductors and shift to ICs have led manufacturers to produce small electro-mechanical components. Numerous industries, including aerospace, require miniaturized and lightweight electronic components because they are cost-effective and increase the functionality. Advanced materials such as tungsten are popularly used for manufacturing 3D ICs.
“In 3D circuit integration technology, ICs are vertically stacked through dense 3D electrical interconnections. These interconnections are made with tungsten plugs because they improve latency, power consumption, and memory bandwidth. Furthermore, these tungsten plugs are used extensively in the complementary metal-oxide semiconductor to enhance efficiency,” says a senior analyst at Technavio for research on .
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global tungsten market segmentation
This market research report segments the into the following products (hard metals, steel and alloys, and mill products) and key regions (APAC, Europe, North America, and ROW).
By product, the hard metals segment held the largest market share in 2017, accounting for nearly 59% of the market. This product segment is anticipated to post steady growth during the forecast period.
APAC led the global tungsten market in 2017, contributing to a market share of more than 70%. This region will dominate the global market throughout the forecast period.
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