DataM IntelligenceGlobal Refractory Metals Market is expected to grow at a high CAGR during the forecasting period (2022-2029).Market Overview
Refractory metals will be metals that have superb obstruction towards intensity and water when utilized in material science, designing, and metallurgy. Instances of such metals incorporate molybdenum, niobium, and rhenium among others. Unmanageable metals are extricated from mineral thinks and are additionally handled into synthetic compounds and powders. These metals have an incredibly high dissolving point. Obstinate metals are utilized in the development of heaters, fibers, atomic reactor control poles, and other comparative applications that include openness to outrageous temperatures.
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Market Dynamics
This market is expected to fill in the figure period attributable to driving variables like high requests from the steel business in the development of heaters and the electrical and gadgets industry in fibers and curls. Expanded uses of the item in carbide and wear parts further power the development of the unmanageable metals market. In any case, poor fabricable qualities of the item at lower temperatures and high oxidability at high temperatures are major limiting elements for the recalcitrant metals market.
Market Segmentation
By Material Type
- Tungsten
- Molybdenum
- Niobium
- Tantalum
- Thenium
- Others
By Application
- Electronics
- Nuclear Power Generation
- Aerospace
- Manufacturing
- Medical
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Competitive Landscape
Global refractory metals market is moderately consolidated with few numbers of global players and regional players in the industry. The industry is highly competitive with respect to individual materials, besides the presence of a high number of recyclers and suppliers across the regions.
Some of the key players in the global metal cutting tool market includes Terubacher Industrie AG, Advanced Metallurgical Group, N.V, Rember Corporation, Climax Molybdenum, and Codelco.
The key strategies adopted by the prominent players in the global refractory metals market includes merger and acquisition between the global players and regional players to improve their presence in respective nations and increase in technological innovation in usage of refractory metals for deep space explorations.
In July 2019, Geoplasma Research has initiated the development of additive manufacturing technologies with refractory alloys for the manufacturing of nuclear thermal propulsion components for the reduction in travel time in deep space exploration with minimum exposure of radiation towards the crew.
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