Why Is Ferrotungsten So Valuable?

Ferrotungsten is an important and will be an important industrial material in the future. The production method of ferrotungsten will be continuously optimised to further increase product quality and production efficiency as science and technology develop.

Market Demand And Supply

Ferrotungsten is seeing an increase in demand from the automotive, aerospace, electronics, and other industries.

With the continued expansion of the new energy vehicle market, ferrotungsten, as a significant raw material for the fabrication of automotive parts, has constantly increased in demand. Due to its exceptional mechanical and physical qualities, ferrotungsten is frequently utilised in the production of engines and other high-temperature components, meeting the aerospace industry’s growing need for high-performance materials. High performance and thinness are the directions that electronic gadgets are moving towards. Ferrotungsten is becoming more and more in demand as a necessary element for electronic packaging and chip fabrication.

When looking at the distribution of ferrotungsten production worldwide, the major producers are China, the US, Russia, and other countries, with China making up a significant share of the total. China remained the world’s largest producer of tungsten ore, accounting for more than 80% of the global production, with global tungsten ore production (metal volume) estimated to be close to 80,000 tonnes in 2021.

Regarding pricing patterns, the ferrotungsten market price in 2023 showed a cyclical increasing tendency that was primarily influenced by supply and demand, global circumstances, and other variables. The market for ferrotungsten will likely continue to increase in the coming years due to the ongoing development of new energy vehicles, aerospace, electronics, and other industries, which will likely result in higher prices. However, the ferrotungsten market may also be impacted by variables including international affairs and environmental protection laws.

Characteristics And Uses Of Ferrotungsten

(I) High resilience to wear and hardness

Relevant evidence indicates that tungsten iron has a hardness several times higher than that of regular steel. For example, tungsten iron drill bits can operate on hard materials for extended periods without showing signs of wear in some high-intensity industrial processing applications. This lowers the expense of replacing tools more frequently while also increasing production efficiency. After using tungsten iron tools, the frequency of tool change has decreased by almost 70% in some large-scale mechanical processing industries, saving a significant amount of time and labour expenses.

(II) High heat transfer efficiency

Tungsten iron can efficiently reduce heat accumulation and prevent equipment from overheating damage because of its rapid absorption and release of heat. Examples of this type of equipment include radiators and heat pipes. Using tungsten iron material for the radiator on some high-performance computer hosts as an example, this material can swiftly conduct the heat produced by CPUs and graphics cards, allowing the equipment to operate at a consistent temperature. In addition, tungsten iron can be used to extend the equipment’s service life and stabilise performance by ensuring that electronic components operate at a constant temperature on the heat-dissipation substrate of electronic devices.

(III) Outstanding resistance to corrosion

Ferrotungsten can be utilised as an anti-corrosion material, although many acid and alkali solutions employed in the chemical production process are extremely corrosive to metals. For instance, the use of ferrotungsten components in industrial equipment can lower maintenance costs and increase equipment life in some chemical firms. Seawater in maritime engineering has a stronger effect on metals to corrode, and ferrotungsten components can lower the risk of corrosion and increase equipment durability in challenging conditions.

(IV) High density and high melting point

Ferrotungsten satisfies the need for high-density materials in the aerospace industry, which is required to produce the balance weights of aircraft. For instance, ferrotungsten can be used as a balance weight in some sophisticated aeroplanes to increase the aircraft’s stability and performance during flight. Because ferrotungsten has a high melting point and can tolerate erosion and thermal stress in high-temperature environments, it may also be utilised to make high-temperature furnaces and high-temperature smelting equipment. Ferrotungsten materials are used in the construction of high-temperature furnaces because they can tolerate temperatures of up to thousands of degrees, guaranteeing the furnaces’ reliable and safe operation.

Challenges And Opportunities Facing The Ferrotungsten Industry

(I) Difficulties

1. Scarcity of resources: Tungsten is a rare metal with unequal distribution and finite worldwide reserves. The tungsten industry’s swift growth has led to a gradual increase in supply strain on tungsten resources, resulting in resource shortages in certain places. However, as the ferrotungsten business continues to grow, tungsten resource consumption is also increasing, which has created significant obstacles to the industry’s ability to grow sustainably.
2. Environmental pressure: Countries are imposing more and more strict environmental protection regulations on the ferrotungsten business as a result of growing environmental consciousness worldwide. Production costs rise as a result of the requirement for businesses to invest more in environmental protection and respond to many environmental inspections. Businesses must spend a significant amount of money building and running environmental protection facilities to comply with environmental protection regulations, which surely raises the costs of production for businesses.
3. Intense rivalry in the market: The ferrotungsten industry is home to several businesses, which leads to intense rivalry in the market. To obtain a competitive edge, businesses must constantly enhance the quality of their products, cut expenses, widen their sales channels, etc. When it comes to price rivalry, some businesses will lower their product prices to gain market share, which causes industry profit margins to contract. At the same time, firms also need to consistently enhance product quality and service to suit client needs.

(II) Possibilities

1. Fresh vitality: Ferrotungsten is finding more and more uses in the realm of new energy as science and technology progress. For instance, ferrotungsten, a high-performance material, has numerous application opportunities in the new energy domains of solar panels and wind power production equipment. Analysts predict that throughout the next several years, there will be a significant increase in the need for ferrotungsten in the emerging energy sector.
2. Novel materials: The ferrotungsten business has benefited from the ongoing discovery of novel materials. While some new materials, including tungsten carbide and titanium alloys, have made ferrotungsten more competitive to replace, they have also encouraged innovation within the ferrotungsten sector. Tungsten iron firms can increase product quality and technical content through technological innovation to fulfil the ever-changing market demand.
3. National policy support: Governments throughout the world have implemented several policies to promote the ferrotungsten industry, offering a favourable development environment for businesses, promoting resource recycling and bolstering the real economy. To encourage ferrotungsten firms to enhance investment in technical innovation and improve resource utilisation efficiency, for instance, the state has implemented policies such as industrial support, tax incentives, and technological innovation support. Ferrotungsten companies have also been compelled by the state’s emphasis on environmental protection and sustainable development to fortify environmental protection governance and encourage the sector to grow in an environmentally friendly and low-carbon manner.
4. Enterprise technical innovation: Ferrotungsten businesses continue to innovate to enhance product quality, lower production costs, and provide their businesses with a competitive edge. This is done in response to market rivalry. To meet market demand, businesses might also boost their R&D expenditures and create high-performance, high-value ferrotungsten goods. The ferrotungsten sector will have more development opportunities as long as technological innovation continues to progress.