Global Tungsten Market Insights and Forecast to 2028

Tungsten (CAS 7440-33-7) is very stable element, as pure metal, tungsten has not only the highest melting point of all metals (3,422 °C) and the lowest degree of thermal expansion, but it is also very dense (19.3 g/cm³), has a high degree of mechanical strength and rigidity and very low vapor pressure. Meanwhile, it has excellent corrosion resistance, thermal conductivity and electric conductivity.
Market Analysis and Insights: Global Tungsten Market
Due to the COVID-19 pandemic, the global Tungsten market size is estimated to be worth US$ 1207.3 million in 2022 and is forecast to a readjusted size of US$ 1791.5 million by 2028 with a CAGR of 6.8% during the review period. Fully considering the economic change by this health crisis, Up to 1μm accounting for % of the Tungsten global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Cemented Carbide segment is altered to an % CAGR throughout this forecast period.
China is the largest Tungsten (CAS 7440-33-7) market with about 62% market share. North America is follower, accounting for about 13% market share.
The key players are Xiamen Tungsten, Chongyi ZhangYuan Tungsten, GuangDong XiangLu Tungsten, Global Tungsten & Powders, China Tungsten & Hightech, JXTC, Japan New Metals, Jiangxi Yaosheng Tungsten, China Molybdenum, Ganzhou Haichuang Tungsten, Kennametal, A.L.M.T. Corp, Ganzhou Yatai Tungsten, Wolfram Company JSC, Treibacher Industrie, H.C. Starck, TaeguTec Ltd, Eurotungstene (Umicore), Buffalo Tungsten etc. Top 3 companies occupied about 40% market share.
In terms of production side, this report researches the Tungsten capacity, production, growth rate, market share by manufacturers and by region (region level and country level), from 2017 to 2022, and forecast to 2028.
In terms of sales side, this report focuses on the sales of Tungsten by region (region level and country level), by company, by Type and by Application. from 2017 to 2022 and forecast to 2028.
Global Tungsten Scope and Segment
Tungsten market is segmented by Type and by Application. Players, stakeholders, and other participants in the global Tungsten market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2017-2028.
Segment by Type
Up to 1μm
1-10μm
10-50μm
Others
Segment by Application
Cemented Carbide
Tungsten Mill Products
Steel and Alloy
Others
By Company
Xiamen Tungsten
Chongyi ZhangYuan Tungsten
GuangDong XiangLu Tungsten
Global Tungsten & Powders
China Tungsten & Hightech
JXTC
Japan New Metals
Jiangxi Yaosheng Tungsten
China Molybdenum
Ganzhou Haichuang Tungsten
Kennametal
A.L.M.T. Corp
Ganzhou Yatai Tungsten
Wolfram Company JSC
Treibacher Industrie
H.C. Starck
TaeguTec Ltd
Eurotungstene (Umicore)
Buffalo Tungsten
Production by Region
North America
Europe
China
Japan
South Korea
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE