has also proven useful in the production of smart windows or electro chromic windows. Smart windows are essentially electrically switchable glass that can alter its light transmission properties when a certain voltage is applied. This allows the user to obtain the desired level of tint on their windows by deciding how much light they want passing through.
The growth in end user industries is expected to increase consumption of tungsten oxide. The growth in medical and firefighting industry is set to drive the tungsten oxide market. In addition, rising consumption of semi-conducting compounds in emerging economies of Asia Pacific and Latin America is expected to boost demand for tungsten oxide. However, availability of substitutes and fluctuating raw material prices could hamper the growth of the market.
Tungsten Oxide Market: Regional Dynamics
Growth in tungsten oxide demand is expected to be led by the Asia Pacific market, particularly China which accounted for majority of consumption in 2013. Major manufacturers of tungsten compounds are relocating their production facilities to China due to availability of cheap labor, infrastructure and attractive government policies. Republic of Korea, India, Vietnam, Malaysia, Cambodia, Australia, New Zealand and Sri Lanka are other major consumers of tungsten oxide in Asia Pacific. North America and Europe are mature markets and expected to experience moderate growth.
Tungsten Oxide Market: Competitive Overview
The tungsten oxide market is dominated by large and medium corporations. Some of the key players in the market are The Metal Powder Company Limited( India), Triveni Chemicals( India), Intelligent Materials Pvt. Ltd( India), Kurt J. Lesker Company( North Ameria), Wolf Minerals Ltd( Australia), Ormonde Mining plc( Ireland), Midwest Tungsten Service( U. S.), Chengdu Huarui Industrial Materials Co., Ltd.( China) and Ganxian Shirui New Material Co., Ltd.( China) among others.
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