Tungstic Acid Market

Tungstic Acid Market Growth Outlook (2023 to 2033)

Based on the analysis by Fact.MR, the global tungstic acid market is valued to be US$ 40.5 million in 2023 and it is anticipated to grow at a CAGR of 3.1% to reach US$ 55.0 million by the end of 2033.

Tungstic acid is extensively used as the catalyst and a minute share goes to manufacturing textile chemicals such as mordant/dyes. Growing demand for tungsten-based products to bolster the production of the ammonium paratungstate is set to cascade the effect to the tungstic acid market.

Report Attributes	Details
Tungstic acid Market Size (2022A)	US$ 39.3 Million
Estimated Market Value (2023E)	US$ 40.5 Million
Forecasted Market Value (2033F)	US$ 55.0 Million
Global Market Growth Rate (2023-2033)	3.1% CAGR
North America Market Share (2023)	22.4%
US Market Growth Rate (2023-2033)	2.9% CAGR
Key Companies Profiled	American Elements Indian Platinum Evans Chem India Pvt. Ltd Forbes Pharmaceuticals Ganzhou CF Tungsten Co.Ltd. Muby Chem Group Otto Kemi Palladium Chemicals Maruti Enterprise SRL Chemicals

Historic and Future Pathway Analysis for the Tungstic Acid Market

Tungstic acid market growth is dependent on tungsten mining and the rate of consumption. Most manufacturing companies use tungstic acid for a variety of purposes. They are utilized as phosphotungstate, boron tungstate, and other tungstates as well as a mordant, analytical reagent, catalyst, water treatment agent, and other things.

In addition to being utilized in the chemical sector, it is also used to create ammonium para tungstate, which is then used to create a variety of tungsten products, including wires, powders, and sodium tungstate. Numerous chemicals are used as phase transfer agents which leads to inefficient removal of metalloporphyrins. Of all the phase transfer agents used by oil manufacturers, tungstic acid is set to take the top position due to enabling efficient removal of metalloporphyrins from heavy oil. All in all, tungstic acid application as a phase transfer agent is set to have strong growth over the long-term forecast period.

• Short Term (2023-2026): The growing oil and gas industry and increased use of zinc pyrithione in personal care product formulations will drive the market for tungstic acid in short term.
• Medium Term (2026-2029): The growing textile industry along with the presence of the majority of the tungsten mines and tungstic acid manufacturers will drive the market, especially in the United States and China.
• Long Term (2029-2033): Rising number of applications will lead manufacturers to invest even more in research and development of products which in turn will drive the innovations and market in long run.

According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 3.1% CAGR between 2023 and 2033.

Market Dynamics Outlook

“Growing Oil & Gas Industry to Bolster the Demand for Tungstic Acid”

The oil & gas industry is on the fast lane on the back of growing demand from numerous industries. Oil & gas industry uses numerous chemicals for the extraction of heavy oils, bitumen, and others. Tungstic acid is also one of the essential chemicals which is extensively used across the industry ranging from its function as a catalyst to as a phase transfer agent.

In the oil & gas industry, lube oil refining processing contains chemical refining processes and hydrogen refining processes. In the chemical refining process lubricant oil is contacted with sulphuric acid along with neutralization with alkali. The hydrogen refining process uses a mixture of tungsten, cobalt, molybdenum, and nickel on a silica-alumina or alumina-based carrier to remove oxygen, sulfur, and nitrogen.

Lube hydrogen refining process will improve the quality of lube base stock from lube hydrocracking processes for manufacturing specialty oils. Specialty oils contain metalloporphyrins which have to be removed by the use of tungstic acid. Moreover, high-efficiency rates of utilizing tungstic acid promote the overall tungstic acid market growth in the oil & gas sector. All in all, the oil & gas sector has a strong effect on the tungstic acid market’s growth

“Availability of Substitutes and Various Government Regulations: A Hurdle to The Market”

Due to the growth of the chemical industry, various manufacturers are innovating numerous products which can substitute tungstic acid in the chemical industry.

As tungsten raw material cost increases, the cost of its derivatives also increases. Customers are thus showing interest in other products based on their requirements. This helps other substitutes to enter the market, thus reducing the tungstic acid market’s volume.

Tungsten mine exploration across the globe has been restricted by regional governments. Therefore, tungstic acid manufacturers’ willingness to control the market by enhancing production is under the leash.

Apart from the over-exploitation of resources, countries across the globe have environmental bodies which protect the exploitation of mines beyond the limits of nature which tend to act as a major barrier to the tungsten products market growth including tungstic acid.

Country-wise Insights

What Factors are Driving Demand for Tungstic Acid in the U.S.?

Heavy oils contain metalloporphyrins that need to be removed using an oxidizing agent and catalytic amounts of phosphoric acid, preferably in combination with tungstic acid, which serves as a phase-transfer agent.

The primary consumer of tungstic acid is the textile industry, which employs the chemical as a mordant and an intermediary in the dyeing of wool fabrics. Tungsten acid gives the cloth waterproofing and fireproofing qualities after mixing with the fabric.

According to EIA, the total crude oil production in the U.S. is expected to rise from 19.78 million B/D in 2021 to 20.8 million B/D in 2023. According to the National Council of Textile Organization, the U.S. is the second largest exporter of textile products in the world.

What Are the Factors Making China the Leading Producer and Consumer for Tungstic Acid?

Local markets in China are being supported by economies of density and smooth supply chain management. China has a strong tungsten mine producing capacity and holds a major share of more than 2/3rd of the global tungsten supply across the globe.

The majority of the dyes consumed across the globe are supplied by China. Over the past half-decade, China has held more than one-third of the tungstic acid demand for dye manufacturing.

Key players in China dominate in terms of economic benefits owing to the factors such as economies of proximity, density, and transportation. Moreover, lower cost of production and labor costs are reflected in the market prices of the tungstic acid produced in the region.

The presence of major consumers such as zinc pyrithione, dye/mordant manufacturers in the country will complement demand growth for tungstic acid over the forecast period in the region.

Category-wise Insights

Why Application of Tungstic Acid as Mordant / Dyes Is Growing Faster Compared to Others?

A mordant is a substance that colors fabric by coloring some intermediate material. Organic compounds that enable basic dyes to dye cellulose fibers are also called mordants. There are many types of color-rich tungstic acids that can be used as mordants.

In addition, by changing the dosage and composition of the mordant, it overcomes the directional shortcomings of a single product targeting strong mordants and is suitable for a variety of mordant dyes with good market prospects. It improves the dyeing and printing efficiency of dye stuff, such as reducing the consumption of dyestuffs and fixing agents.

Yellow tungstic acid is used as a mordant and analytical reagent, a catalyst for the production of synthetic resin, water treatment agent, chemical intermediate, and dye.

Why Demand from Textile Industry is Expected to Grow Rapidly During the Forecast Period?

Extensive usage of tungstic acid is encountered in textile production. It is used as a mordant/dye for coloring the fabrics. The growth of the garment industry and the growing population have both contributed significantly to the rise in textile consumption. It is used to set the dye on fabric as it acts as a mordant by generating a coordination complex with the dye. Increasing tungstic acid use in the textile sector to help the overall global tungstic market.

The increased number of natural calamities and industrial disasters that led to fire accidents in the past has been a major reason for the growing demand for fire-resistant fabric. Fire-resistant fabrics are used for manufacturing fireproof suits. These fabrics are made by coating the fabrics with a mixture of tungstic acid and ammonium sulfate

Tungstic acid is used in textiles to provide the right texture and improve the weight properties of the fabric. Overall, the growth of the textile industry should strengthen the demand for tungstic acid in the coming years.

Eminent Players Key Stratagems

Prominent tungstic acid manufacturers are American Elements, Indian Platinum, Evans Chem India Pvt. Ltd, Otto Kemi, Palladium Chemicals, Maruti Enterprise, and SRL Chemicals among others.

The world’s leading manufacturers of tungstic acid products are employing sustainable technologies and optimization systems for diverse end users. Key manufacturers and new players are focused to expand and grow in international markets by acquiring new customers and avenues for revenue growth. Manufacturers are practicing a sales diversification strategy to get an extra edge.

Fact.MR has provided detailed information about the price points of key manufacturers of tungstic acid positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Tungstic Acid Industry Research

• By Grade:

  • 2N
  • 3N
  • 4N
  • 5N

• By Product Type:

  • Monohydrate
  • Dihydrate

• By Function:

  • Reagent
  • Intermediates
  • Mordants / Dyes
  • Others

• By Application:

  • Chemical Production
    • Catalysts
    • Tungsten products
  • Textile Production

• By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa