These are the most precious of metals in the world currently. While gold and its relatives might be extremely costly, tungsten is a better option for many people. It is cheaper but at the same time manages to be extremely sophisticated.
The world market says…
However, there is the sad news that tungsten demand is dropping slowly. The demand for tungsten is said to be slowing down to 2.6 percent per year till 2018. This is probably because there is a reduction in the use of tungsten in one of its most popular applications- filaments in the light bulb. People are opting for LED lighting rather than the filament bulbs. Due to this, the demand for tungsten in the world market is going to see a significant drop.
There is still some good news though. The tungsten demand for alloys and other hard metals is set to perform very well within this time. The majority of this demand is set to come from the automotive industry. This is particularly so in Europe, China and North America. The demand for cemented carbides is going to see an increase of about 3.6 percent annually through to 2018. This in turn will see the increase in overall market share of demand for tungsten. There is also the increasing demand for tungsten rings.
There is also an expected increase of about 52 percent by 2018 in the Asian demand for tungsten. It goes without saying that the major share of this demand will be drawn from China. This is a significant increase from the 2013 48 percent. Research reports show that the demand for Tungsten by the Chinese market is going to outrank the North American and European tungsten growth significantly.Wedding band made from tungsten
Tungsten is increasingly becoming a popular material when it comes to creation of wedding bands. This is specifically so when it comes to men. Men are opting for tungsten wedding bands instead of gold, silver and whatever other alternatives available. This is set to make sure that there is an increase in the demand for tungsten.
One thing that you will love about tungsten wedding bands is that they tend to be extremely strong. You can be sure that you will not have to replace your wedding band for a very long time to come. Aside from the strength issue, tungsten rings tend to be extremely stylish. It does not have to be for a wedding only. You can get tungsten rings for just about anything. If you just want a ring to wear for the fun of it all, you can get it easily. The world of fashion is sure set to have an impact on the demand for tungsten.