The Tungsten Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Tungsten Market?
The Tungsten Global Market Report 2025 indicates an upward trend in market growth. The market size has expanded substantially from $5.66 billion in 2024 to an expected $6.22 billion in 2025. This growth depicts a compound annual growth rate (CAGR) of 9.8%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Tungsten Industry?
The tungsten market is projected to expand to a size of $8.92 billion by 2029, with a compound annual growth rate (CAGR) of 9.4%.
Download Your Free Sample of the 2025 Tungsten Market Report and Uncover Key Trends Now!
What are the Key Growth Drivers Fueling the Tungsten Market?
The key drivers in the tungsten market are:
• Electrification of vehicles driving demand for tungsten
• Increasing use of tungsten in biomedical applications
• Infrastructure development requiring larger quantities of tungsten
• Growing focus on recycling initiatives that utilize tungsten
Global Market Segmentation: Identifying Major Tungsten Industry Segments
The tungsten market covered in this report is segmented –
1) By Product: Carbides, Tungsten Alloys, Tungsten Mill Products, Tungsten Chemicals
2) By Form: Foils, Ribbons, Wires, Tubes
3) By End-User Industry: Automotive, Aerospace, Machine Tools And Equipment, Electrical And Electronics, Other End-User Industries
Pre-order the 2025 Tungsten Global Market Report for Fast Delivery & Comprehensive Insights!
What are the Emerging Trends Shaping the Future of the Tungsten Market?
The key trends in the tungsten market are:
• Technological innovations in tungsten processing are emerging as a key trend.
• Strategic stockpiling by end-users is significantly influencing the market.
• There are advancements in tungsten carbide shifting the market dynamics.
• International collaborations aligning with green energy technologies signify a major trend.
Who Are the Top Competitors & Leading Players in the Tungsten Market?
Major companies in the tungsten market are:
• CMOC Group Ltd.
• Sandvik AB
• Xiamen Tungsten Co. Ltd.
• Umicore N.V.
• IMC International Metalworking Companies B.V.
• Plansee SE
• Kennametal Inc.
• China Tungsten & Hightech Materials Co. Ltd.
• Masan High-Tech Materials Corporation
• Chongyi Zhangyuan Tungsten Co. Ltd.
• Global Tungsten & Powders Corp.
• Betek GmbH & Co. KG
• Guangdong XiangLu Tungsten Co. Ltd.
• Treibacher Industrie AG
• H.C. Starck GmbH
• Nippon Tungsten Co. Ltd.
• A.L.M.T. Corp.
• Elmet Technologies LLC
• T&D Materials Manufacturing LLC
• Almonty Industries Inc.
• Wolf Minerals Limited
• Woltech Korea Co. Ltd.
• Buffalo Tungsten Inc.
• WOLFRAM Company JSC
• Federal Carbide Company
• QuesTek Innovations LLC
• Tungco Inc.
• Tungsten Heavy Powder Inc.
• Midwest Tungsten Service Inc.
• Tungsten West PLC
Regional Dominance: Which Area Leads the Global Tungsten Market?
Asia-Pacific was the largest region in the tungsten market in 2024
