Global Tungsten Market 2024-2028

The tungsten market is forecasted to grow by USD 1953.71 mn during 2023-2028, accelerating at a CAGR of 7.11% during the forecast period. The report on the tungsten market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by wide use of tungsten in integrated circuits, increasing demand for tungsten carbide from automotive industry, and vast reserves of tungsten ores in China.

Market Scope
Base Year	2023
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	5.69%
CAGR	7.11%
Incremental Value	$1953.71mn

Technavio's tungsten market is segmented as below:

By Product

Hard metal
Steel and alloys
Mill products
Others

By Application

Automotive
Aerospace and defense
Electrical and electronics
Machine tools and equipment
Healthcare

By Geographical Landscape

APAC
Europe
North America
Middle East and Africa
South America

This study identifies the miniaturization of electronic components as one of the prime reasons driving the tungsten market growth during the next few years. Also, recycling of tungsten scrap and emerging future applications of tungsten will lead to sizable demand in the market.

The report on the tungsten market covers the following areas:

Tungsten market sizing
Tungsten market forecast
Tungsten market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading tungsten market vendors that include Almonty Industries Inc., Amalgamated Metal Corp. PLC, Buffalo Tungsten Inc., China Molybdenum Co. Ltd., China Tungsten Online Manu and Sales Corp., Dymet Alloys, Federal Carbide Co., Group 6 Metals Ltd., Masan High Tech Materials, Mitsubishi Materials Corp., MOLTUN, PicoParts, Plansee SE, SALORO SLU, Saxony Minerals and Exploration AG SME AG, Specialty Metals Resources Ltd., T and D Materials Manufacturing LLC, TaeguTec LTD., Tungco INC., and Tungsten Mining NL. Also, the tungsten market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR72985

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Product
Exhibit 06: Executive Summary - Chart on Market Segmentation by Application
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global tungsten market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global tungsten market 2018 - 2022 ($ million)
4.2 Product Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Product Segment 2018 - 2022 ($ million)
4.3 Application Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - Application Segment 2018 - 2022 ($ million)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ million)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Product

6.1 Market segments
Exhibit 30: Chart on Product - Market share 2023-2028 (%)
Exhibit 31: Data Table on Product - Market share 2023-2028 (%)
6.2 Comparison by Product
Exhibit 32: Chart on Comparison by Product
Exhibit 33: Data Table on Comparison by Product
6.3 Hard metal - Market size and forecast 2023-2028
Exhibit 34: Chart on Hard metal - Market size and forecast 2023-2028 ($ million)
Exhibit 35: Data Table on Hard metal - Market size and forecast 2023-2028 ($ million)
Exhibit 36: Chart on Hard metal - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Hard metal - Year-over-year growth 2023-2028 (%)
6.4 Steel and alloys - Market size and forecast 2023-2028
Exhibit 38: Chart on Steel and alloys - Market size and forecast 2023-2028 ($ million)
Exhibit 39: Data Table on Steel and alloys - Market size and forecast 2023-2028 ($ million)
Exhibit 40: Chart on Steel and alloys - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Steel and alloys - Year-over-year growth 2023-2028 (%)
6.5 Mill products - Market size and forecast 2023-2028
Exhibit 42: Chart on Mill products - Market size and forecast 2023-2028 ($ million)
Exhibit 43: Data Table on Mill products - Market size and forecast 2023-2028 ($ million)
Exhibit 44: Chart on Mill products - Year-over-year growth 2023-2028 (%)
Exhibit 45: Data Table on Mill products - Year-over-year growth 2023-2028 (%)
6.6 Others - Market size and forecast 2023-2028
Exhibit 46: Chart on Others - Market size and forecast 2023-2028 ($ million)
Exhibit 47: Data Table on Others - Market size and forecast 2023-2028 ($ million)
Exhibit 48: Chart on Others - Year-over-year growth 2023-2028 (%)
Exhibit 49: Data Table on Others - Year-over-year growth 2023-2028 (%)
6.7 Market opportunity by Product
Exhibit 50: Market opportunity by Product ($ million)
Exhibit 51: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by Application

7.1 Market segments
Exhibit 52: Chart on Application - Market share 2023-2028 (%)
Exhibit 53: Data Table on Application - Market share 2023-2028 (%)
7.2 Comparison by Application
Exhibit 54: Chart on Comparison by Application
Exhibit 55: Data Table on Comparison by Application
7.3 Automotive - Market size and forecast 2023-2028
Exhibit 56: Chart on Automotive - Market size and forecast 2023-2028 ($ million)
Exhibit 57: Data Table on Automotive - Market size and forecast 2023-2028 ($ million)
Exhibit 58: Chart on Automotive - Year-over-year growth 2023-2028 (%)
Exhibit 59: Data Table on Automotive - Year-over-year growth 2023-2028 (%)
7.4 Aerospace and defense - Market size and forecast 2023-2028
Exhibit 60: Chart on Aerospace and defense - Market size and forecast 2023-2028 ($ million)
Exhibit 61: Data Table on Aerospace and defense - Market size and forecast 2023-2028 ($ million)
Exhibit 62: Chart on Aerospace and defense - Year-over-year growth 2023-2028 (%)
Exhibit 63: Data Table on Aerospace and defense - Year-over-year growth 2023-2028 (%)
7.5 Electrical and electronics - Market size and forecast 2023-2028
Exhibit 64: Chart on Electrical and electronics - Market size and forecast 2023-2028 ($ million)
Exhibit 65: Data Table on Electrical and electronics - Market size and forecast 2023-2028 ($ million)
Exhibit 66: Chart on Electrical and electronics - Year-over-year growth 2023-2028 (%)
Exhibit 67: Data Table on Electrical and electronics - Year-over-year growth 2023-2028 (%)
7.6 Machine tools and equipment - Market size and forecast 2023-2028
Exhibit 68: Chart on Machine tools and equipment - Market size and forecast 2023-2028 ($ million)
Exhibit 69: Data Table on Machine tools and equipment - Market size and forecast 2023-2028 ($ million)
Exhibit 70: Chart on Machine tools and equipment - Year-over-year growth 2023-2028 (%)
Exhibit 71: Data Table on Machine tools and equipment - Year-over-year growth 2023-2028 (%)
7.7 Healthcare - Market size and forecast 2023-2028
Exhibit 72: Chart on Healthcare - Market size and forecast 2023-2028 ($ million)
Exhibit 73: Data Table on Healthcare - Market size and forecast 2023-2028 ($ million)
Exhibit 74: Chart on Healthcare - Year-over-year growth 2023-2028 (%)
Exhibit 75: Data Table on Healthcare - Year-over-year growth 2023-2028 (%)
7.8 Market opportunity by Application
Exhibit 76: Market opportunity by Application ($ million)
Exhibit 77: Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 78: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 79: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 80: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 81: Chart on Geographic comparison
Exhibit 82: Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2023-2028
Exhibit 83: Chart on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 84: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 85: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.4 Europe - Market size and forecast 2023-2028
Exhibit 87: Chart on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 88: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 89: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.5 North America - Market size and forecast 2023-2028
Exhibit 91: Chart on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 92: Data Table on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 93: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.6 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 95: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 96: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 97: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.7 South America - Market size and forecast 2023-2028
Exhibit 99: Chart on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 100: Data Table on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 101: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.8 China - Market size and forecast 2023-2028
Exhibit 103: Chart on China - Market size and forecast 2023-2028 ($ million)
Exhibit 104: Data Table on China - Market size and forecast 2023-2028 ($ million)
Exhibit 105: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 106: Data Table on China - Year-over-year growth 2023-2028 (%)
9.9 India - Market size and forecast 2023-2028
Exhibit 107: Chart on India - Market size and forecast 2023-2028 ($ million)
Exhibit 108: Data Table on India - Market size and forecast 2023-2028 ($ million)
Exhibit 109: Chart on India - Year-over-year growth 2023-2028 (%)
Exhibit 110: Data Table on India - Year-over-year growth 2023-2028 (%)
9.10 Japan - Market size and forecast 2023-2028
Exhibit 111: Chart on Japan - Market size and forecast 2023-2028 ($ million)
Exhibit 112: Data Table on Japan - Market size and forecast 2023-2028 ($ million)
Exhibit 113: Chart on Japan - Year-over-year growth 2023-2028 (%)
Exhibit 114: Data Table on Japan - Year-over-year growth 2023-2028 (%)
9.11 Russia - Market size and forecast 2023-2028
Exhibit 115: Chart on Russia - Market size and forecast 2023-2028 ($ million)
Exhibit 116: Data Table on Russia - Market size and forecast 2023-2028 ($ million)
Exhibit 117: Chart on Russia - Year-over-year growth 2023-2028 (%)
Exhibit 118: Data Table on Russia - Year-over-year growth 2023-2028 (%)
9.12 US - Market size and forecast 2023-2028
Exhibit 119: Chart on US - Market size and forecast 2023-2028 ($ million)
Exhibit 120: Data Table on US - Market size and forecast 2023-2028 ($ million)
Exhibit 121: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 122: Data Table on US - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 123: Market opportunity By Geographical Landscape ($ million)
Exhibit 124: Data Tables on Market opportunity By Geographical Landscape ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 125: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 126: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 127: Overview on factors of disruption
11.4 Industry risks
Exhibit 128: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 129: Vendors covered
12.2 Market positioning of vendors
Exhibit 130: Matrix on vendor position and classification
12.3 Almonty Industries Inc.
Exhibit 131: Almonty Industries Inc. - Overview
Exhibit 132: Almonty Industries Inc. - Product / Service
Exhibit 133: Almonty Industries Inc. - Key offerings
12.4 Amalgamated Metal Corp. PLC
Exhibit 134: Amalgamated Metal Corp. PLC - Overview
Exhibit 135: Amalgamated Metal Corp. PLC - Product / Service
Exhibit 136: Amalgamated Metal Corp. PLC - Key offerings
12.5 Buffalo Tungsten Inc.
Exhibit 137: Buffalo Tungsten Inc. - Overview
Exhibit 138: Buffalo Tungsten Inc. - Product / Service
Exhibit 139: Buffalo Tungsten Inc. - Key offerings
12.6 China Molybdenum Co. Ltd.
Exhibit 140: China Molybdenum Co. Ltd. - Overview
Exhibit 141: China Molybdenum Co. Ltd. - Product / Service
Exhibit 142: China Molybdenum Co. Ltd. - Key offerings
12.7 China Tungsten Online Manu and Sales Corp.
Exhibit 143: China Tungsten Online Manu and Sales Corp. - Overview
Exhibit 144: China Tungsten Online Manu and Sales Corp. - Product / Service
Exhibit 145: China Tungsten Online Manu and Sales Corp. - Key offerings
12.8 Dymet Alloys
Exhibit 146: Dymet Alloys - Overview
Exhibit 147: Dymet Alloys - Product / Service
Exhibit 148: Dymet Alloys - Key offerings
12.9 Federal Carbide Co.
Exhibit 149: Federal Carbide Co. - Overview
Exhibit 150: Federal Carbide Co. - Product / Service
Exhibit 151: Federal Carbide Co. - Key offerings
12.10 Group 6 Metals Ltd.
Exhibit 152: Group 6 Metals Ltd. - Overview
Exhibit 153: Group 6 Metals Ltd. - Product / Service
Exhibit 154: Group 6 Metals Ltd. - Key offerings
12.11 Masan High Tech Materials
Exhibit 155: Masan High Tech Materials - Overview
Exhibit 156: Masan High Tech Materials - Product / Service
Exhibit 157: Masan High Tech Materials - Key offerings
12.12 Mitsubishi Materials Corp.
Exhibit 158: Mitsubishi Materials Corp. - Overview
Exhibit 159: Mitsubishi Materials Corp. - Business segments
Exhibit 160: Mitsubishi Materials Corp. - Key offerings
Exhibit 161: Mitsubishi Materials Corp. - Segment focus
12.13 MOLTUN
Exhibit 162: MOLTUN - Overview
Exhibit 163: MOLTUN - Product / Service
Exhibit 164: MOLTUN - Key offerings
12.14 PicoParts
Exhibit 165: PicoParts - Overview
Exhibit 166: PicoParts - Product / Service
Exhibit 167: PicoParts - Key offerings
12.15 Plansee SE
Exhibit 168: Plansee SE - Overview
Exhibit 169: Plansee SE - Key offerings
12.16 SALORO SLU
Exhibit 170: SALORO SLU - Overview
Exhibit 171: SALORO SLU - Product / Service
Exhibit 172: SALORO SLU - Key offerings
12.17 TaeguTec LTD.
Exhibit 173: TaeguTec LTD. - Overview
Exhibit 174: TaeguTec LTD. - Product / Service
Exhibit 175: TaeguTec LTD. - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 176: Inclusions checklist
Exhibit 177: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 178: Currency conversion rates for US$
13.4 Research methodology
Exhibit 179: Research methodology
Exhibit 180: Validation techniques employed for market sizing
Exhibit 181: Information sources
13.5 List of abbreviations
Exhibit 182: List of abbreviations