Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Tungsten Market by Type (Wolframite, Scheelite), By Application (Automotive, Mining, Construction, Oil & Gas, Aerospace and Defense, Medical) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Tungsten Market by Type (Wolframite, Scheelite), By Application (Automotive, Mining, Construction, Oil & Gas, Aerospace and Defense, Medical) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 135624 3300 Chemical & Material 377 240 Pages 4.9 (37)

Market Overview:

The global tungsten market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for tungsten in various applications, such as automotive, mining, construction, oil & gas, aerospace and defense, and medical. Wolframite is the most commonly used type of tungsten in the global market. Asia Pacific dominates the global tungsten market with a share of more than 50%. North America and Europe are other major markets for tungsten.

Global Tungsten Industry Outlook

Product Definition:

Tungsten is a rare, hard, heavy metal that is used to make filaments in incandescent light bulbs and in certain types of welding electrodes. It has the highest melting point of any element and is used as a component in high-temperature alloys.


Wolframite is a mineral, which contains tungsten and molybdenum. It has the appearance of a dark-green gemstone and occurs in large crystals that are typically found in metalliferous sedimentary rocks. The chemical composition of the mineral includes potassium (KWO4), sodium (Na2WO4), magnesium (Mg3WO4) & calcium (Ca2WO4).


Scheelite, also known as tungsten trioxide, is a chemical compound of tungsten and oxygen. It is produced on a commercial scale primarily by the reduction of hexachloroplatinate (WO3) with calcium or sodium carbonate or by hydrolysis of tungsten carbide. The most common application involves its use in incandescent light bulbs as it helps to increase the filament temperature which thereby increases the efficiency level.

Application Insights:

The automotive application segment led the global tungsten market in 2017 and is projected to witness significant growth over the forecast period. The increasing use of tungsten in manufacturing electric motors, batteries, and lighting components is expected to drive demand for the metal over the coming years.

Tungsten has a high melting point (3,000°C) which makes it an ideal material for use in filtration applications including oil and gas production equipment filters. It is also used as a replacement element for carbon in cement pastes used across several industry verticals owing to its superior properties including high corrosion resistance and strength against alkali hydroxide attacks.

Regional Analysis:

Asia Pacific was the dominant regional market in 2017 and accounted for a share of over 60% of the global volume. The region is expected to witness significant growth in terms of consumption as well as production owing to high demand from various end-use industries, including automotive, construction, oil & gas and aerospace.

The growing manufacturing sector coupled with increasing foreign investments is likely to have a positive impact on tungsten market growth over the forecast period. In addition, rising government initiatives such as “Make in India” initiative by Indian Government are expected to boost automobile sales which will further propel product demand over the coming years.

Europe was estimated at USD X billion in 2017 and is projected to grow at an estimated CAGR of XX% from 2018 to 2030 due primarily mining products such as scheelite (ferrochrome) that are used for steelmaking along with iron ore pellets imported mainly from Russia followed by South Africa.

Growth Factors:

  • Increasing demand from the electronics and electrical industry for tungsten filaments and electrodes due to its properties of high melting point, good thermal conductivity and low vapor pressure.
  • Rising demand for tungsten in the aerospace industry due to its use in missile components, aircraft engines and other high-performance applications.
  • Growing consumption of tungsten in the automotive sector as a result of increasing production of automobiles worldwide.
  • Robust growth prospects for the chemical processing industry owing to rising demand from developing countries for various products manufactured using this process step.

Scope Of The Report

Report Attributes

Report Details

Report Title

Tungsten Market Research Report

By Type

Wolframite, Scheelite

By Application

Automotive, Mining, Construction, Oil & Gas, Aerospace and Defense, Medical

By Companies

A.L.M.T, Allegheny Technologies, Betek, Buffalo Tungsten, China Minmetals Non-Ferrous Metals, Jiangxi Tungsten Industry Group, China Molybdenum, Chongyi Zhangyuan Tungsten, Eurotungstene Metal Powders, GuangDong XiangLu Tungsten, H.C. Starck

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Tungsten Market Report Segments:

The global Tungsten market is segmented on the basis of:


Wolframite, Scheelite

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.


Automotive, Mining, Construction, Oil & Gas, Aerospace and Defense, Medical

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. A.L.M.T
  2. Allegheny Technologies
  3. Betek
  4. Buffalo Tungsten
  5. China Minmetals Non-Ferrous Metals
  6. Jiangxi Tungsten Industry Group
  7. China Molybdenum
  8. Chongyi Zhangyuan Tungsten
  9. Eurotungstene Metal Powders
  10. GuangDong XiangLu Tungsten
  11. H.C. Starck

Global Tungsten Market Overview

Highlights of The Tungsten Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Wolframite
    2. Scheelite
  1. By Application:

    1. Automotive
    2. Mining
    3. Construction
    4. Oil & Gas
    5. Aerospace and Defense
    6. Medical
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Tungsten Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Tungsten Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

Tungsten is a metal that is often used in the manufacturing of weapons and other tools. It can also be found in jewelry, watches, and other small objects.

Some of the major players in the tungsten market are A.L.M.T, Allegheny Technologies, Betek, Buffalo Tungsten, China Minmetals Non-Ferrous Metals, Jiangxi Tungsten Industry Group, China Molybdenum, Chongyi Zhangyuan Tungsten, Eurotungstene Metal Powders, GuangDong XiangLu Tungsten, H.C. Starck.

The tungsten market is expected to grow at a compound annual growth rate of 5.5%.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Tungsten Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Tungsten Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Tungsten Market - Supply Chain
   4.5. Global Tungsten Market Forecast
      4.5.1. Tungsten Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Tungsten Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Tungsten Market Absolute $ Opportunity

5. Global Tungsten Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Tungsten Market Size and Volume Forecast by Type
      5.3.1. Wolframite
      5.3.2. Scheelite
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Tungsten Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Tungsten Market Size and Volume Forecast by Application
      6.3.1. Automotive
      6.3.2. Mining
      6.3.3. Construction
      6.3.4. Oil & Gas
      6.3.5. Aerospace and Defense
      6.3.6. Medical
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Tungsten Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Tungsten Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Tungsten Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Tungsten Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Tungsten Demand Share Forecast, 2019-2029

9. North America Tungsten Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Tungsten Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Tungsten Market Size and Volume Forecast by Application
      9.4.1. Automotive
      9.4.2. Mining
      9.4.3. Construction
      9.4.4. Oil & Gas
      9.4.5. Aerospace and Defense
      9.4.6. Medical
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Tungsten Market Size and Volume Forecast by Type
      9.7.1. Wolframite
      9.7.2. Scheelite
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Tungsten Demand Share Forecast, 2019-2029

10. Latin America Tungsten Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Tungsten Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Tungsten Market Size and Volume Forecast by Application
      10.4.1. Automotive
      10.4.2. Mining
      10.4.3. Construction
      10.4.4. Oil & Gas
      10.4.5. Aerospace and Defense
      10.4.6. Medical
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Tungsten Market Size and Volume Forecast by Type
      10.7.1. Wolframite
      10.7.2. Scheelite
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Tungsten Demand Share Forecast, 2019-2029

11. Europe Tungsten Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Tungsten Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Tungsten Market Size and Volume Forecast by Application
      11.4.1. Automotive
      11.4.2. Mining
      11.4.3. Construction
      11.4.4. Oil & Gas
      11.4.5. Aerospace and Defense
      11.4.6. Medical
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Tungsten Market Size and Volume Forecast by Type
      11.7.1. Wolframite
      11.7.2. Scheelite
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
     11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Tungsten Demand Share, 2019-2029

12. Asia Pacific Tungsten Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Tungsten Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Tungsten Market Size and Volume Forecast by Application
      12.4.1. Automotive
      12.4.2. Mining
      12.4.3. Construction
      12.4.4. Oil & Gas
      12.4.5. Aerospace and Defense
      12.4.6. Medical
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Tungsten Market Size and Volume Forecast by Type
      12.7.1. Wolframite
      12.7.2. Scheelite
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Tungsten Demand Share, 2019-2029

13. Middle East & Africa Tungsten Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Tungsten Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Tungsten Market Size and Volume Forecast by Application
      13.4.1. Automotive
      13.4.2. Mining
      13.4.3. Construction
      13.4.4. Oil & Gas
      13.4.5. Aerospace and Defense
      13.4.6. Medical
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Tungsten Market Size and Volume Forecast by Type
      13.7.1. Wolframite
      13.7.2. Scheelite
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Tungsten Demand Share, 2019-2029

14. Competition Landscape
   14.1. Global Tungsten Market: Market Share Analysis
   14.2. Tungsten Distributors and Customers
   14.3. Tungsten Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. A.L.M.T Overview Financials Developments Strategic Outlook
      14.4.2. Allegheny Technologies Overview Financials Developments Strategic Outlook
      14.4.3. Betek Overview Financials Developments Strategic Outlook
      14.4.4. Buffalo Tungsten Overview Financials Developments Strategic Outlook
      14.4.5. China Minmetals Non-Ferrous Metals Overview Financials Developments Strategic Outlook
      14.4.6. Jiangxi Tungsten Industry Group Overview Financials Developments Strategic Outlook
      14.4.7. China Molybdenum Overview Financials Developments Strategic Outlook
      14.4.8. Chongyi Zhangyuan Tungsten Overview Financials Developments Strategic Outlook
      14.4.9. Eurotungstene Metal Powders Overview Financials Developments Strategic Outlook
      14.4.10. GuangDong XiangLu Tungsten Overview Financials Developments Strategic Outlook
      14.4.11. H.C. Starck Overview Financials Developments Strategic Outlook
      14.4.12. COMPANY 12 Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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