Award winning market research company Fact.MR has conducted a recent study on the global tungstic acid market. As per its study, a positive growth outlook is expected for 2021, primarily underpinned by growing demand from the chemical and personal care industry. Growth prospects for the upcoming decade are also optimistic, registering a noteworthy expansion to reach a valuation of US$ 50 Mn until 2031, especially from the chemical industry.
According to the study by Fact.MR, burgeoning demand for zinc pyrithione is expected to foster the tungstic acid sales through 2021 and beyond. With diverse function of tungstic acid such as mordant, catalyst, manufacturing of waterproof and fireproof materials is aiding the growth of the market. Hence, fostering the Tungstic Acid sales.
Furthermore, increasing production of chemicals and usage of zinc pyrithione as a main ingredient for skin and hair care is creating a hyped demand in the tungsten acid manufacturers. Therefore, stimulating the demand for Tungstic Acid in upcoming years.
“Surge in demand as a potential catalyst among manufacturers is likely to provide momentum to tungstic acid sales through 2031. Manufacturers rising preference towards production of wide variety of tungsten products such as tungsten powders, wires, and others to create lucrative growth opportunities,” says a Fact.MR analyst.
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Key Takeaways
- By grade, 2N is expected to acquire high priority amid growing preference by the manufacturers
- Zinc pyrithione to be a highly sought after segment owing to the bourgeoning application in personal care industry
- Catalysts segment to dominate the market in the forecast period
- India to emerge as a lucrative market amid burgeoning chemical industry
- China to flourish as a largest manufacturer by 2031, widening tungstic acid growth prospects
- By function, intermediates to retain their dominance as the fastest growing segment
- United States expected to witness a steady growth owing to the rising application in textile industries
Prominent Drivers
- Rising demand for tungstic acid for the application in chemical industry is boosting the demand
- Growing consumption of zinc pyrithione for tungstic acid manufacturers to create growth opportunities in upcoming years
Key Restraints
- Hair problems such as hair loss, burning sensation caused by the usage of zinc pyrithione is causing a restraint
- Organic and natural substitute of zinc pyrithione such as Greentech is creating a challenge for the market
Discover more about the Tungstic Acid market with 97 figures and 102 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/1245/tungstic-acid-market
Competitive Landscape
Ganzhou CF Tungsten Co. Ltd., India Platinum, and Muby Chemicals among others are some of the key players profiled by Fact.MR. Leading players are inclined towards using key strategies such as production of zinc pyrithione to cater the demand from personal care industry to create growth opportunities.
In March 2020, Scientific Committee on Consumer Safety issued a positive opinion on the usage of zinc pyrithione for hair conditioners, face powders and other products that manufacturers are using for their production in cosmetics.
More Valuable Insights on Tungstic Acid Market
In its latest report, Fact.MR offers an unbiased analysis on the global tungstic acid market. The study divulges essential insights on the tungstic acid market on the basis of grade (2N, 3N, 4N, and 5N), function (reagents, intermediates, mordants/dyes, and others), product type (tungstic acid monohydrate and tungstic acid di-hydrate), application (chemical production and textile production), and key regions (North America, Europe, East Asia, South Asia & Oceania, and rest of the world).
Key Questions Covered in the Report
- Which region will account for the largest market share?
- Which segment holds the major market share for tungstic acid?
- What will be the key drivers for the tungstic acid market?
- Why is demand for tungstic acid in chemical industry accelerating?
- Which are the prominent players operating in the Tungstic Acid market?
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