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W resources plc

By 2025, tungsten market to reach USD 8.5 billion

Tungsten Market will likely surpass USD 8.5 billion by 2025; according to a new research report. Global tungsten market will be propelled by the product’s extensive usage in a broad range of industries including metal working, mining, oil & gas, aerospace, defense, automotive, etc.

The product finds its usage in different forms for a varied array of applications. Tungsten is employed in manufacturing different alloys such as tool steel, high-speed steel, and many more. The product is also used in the fabrication of carbides, which are popularly used as cutting tools, drill bits, and for other such high strength and high temperature applications. Pure tungsten products are used in the electronic industry whereas salts, sulfides, or oxides obtained from the product finds usage in the chemical industry in manufacturing lubricants, catalysts, etc. Since most of the tungsten products finds usage in manufacturing and other related industries, the overall development of the world economy will have a direct effect on the product market.

W Resources Plc (LON:WRES) engages in the exploration and development of tungsten, tin, copper, and gold properties.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.