World Tungsten

Gains will be fueled by growth in construction, mining and manufacture of aerospace, machinery, and metal products using tungsten cutting tools, dies, drills, weights, and wear parts.

World demand to rise 4.2% annually through 2019

Global demand for processed tungsten is projected to advance 4.2 percent annually to 146,400 metric tons in 2019. Sales gains will be fueled by solid growth in fixed investment expenditures, especially in construction spending and mining activity. Higher manufacturing output will also support gains, particularly in the key aerospace, machinery, and metal products sectors. Increased production in these industries will spur demand for tungsten-containing cutting tools, dies, drills, weights, and wear parts, among others.

Asia/Pacific region to remain dominant market

The Asia/Pacific region, led by China, will continue to dominate both tungsten supply and consumption. In 2019, China alone will account for over half of sales and three-fifths of output. The country’s outsized influence on the global tungsten market is a combination of its vast tungsten reserves (over half of known tungsten deposits in the world) and the Chinese government’s support of industries that manufacture value added tungsten products. These factors, along with China’s restrictions on exports of tungsten ore, caused a rapid spike in prices over the past decade, although this will moderate through 2019 as export restrictions are eased. China’s historically lower mining and labor costs have also played a role in the size of its market and output, although labor costs in the country are rising and increased use of scrap across the globe is making processed tungsten sourced from outside of China more attractive.

India will be the fastest growing major market for processed tungsten through 2019, fueled by a rapidly expanding manufacturing sector with increasingly advanced technological capabilities. Other nations that are expected to record above average tungsten sales increases through 2019 include Turkey, Mexico, China, and Taiwan, as demand in these countries will be driven in large part by rising output of motor vehicles and other durable goods. Demand in the US, Japan, and Western Europe will post slower growth.

Tungsten alloys to record fastest growth

Tungsten alloys will record the fastest growth of any major product category, stimulated largely by aerospace manufacturing increases. However, cemented carbides will continue to account for the largest share of processed tungsten consumption due to their widespread use in replaceable cutting tools and inserts. Mill product sales in lighting applications will shrink through 2019 due to phaseouts of incandescent bulbs across the globe. However, tungsten mill products will demonstrate steady growth, supported by demand for the metal in a number of other electrical and electronic applications.

Study coverage

This Freedonia industry study analyzes the 119,100 metric ton world tungsten industry. It presents historical demand data (2004, 2009 and 2014) and forecasts (2019 and 2024) by product (e.g., cemented carbides, tungsten alloys, tungsten mill products, tungsten chemicals) for six world regions and 16 major countries. The study also considers market environment factors, details industry structure, evaluates company market share and profiles 22 industry players, including Sandvik, Jiangxi Rare Earth, and Rare Metals Tungsten Group.

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  1. World Tungsten

    $6,200.00

    1. 1 INTRODUCTION

      $304.00

    2. 2 EXECUTIVE SUMMARY

      $208.00

      1. Table | WORLD TUNGSTEN DEMAND

    3. 3 MARKET ENVIRONMENT

      $1,653.00

      1. 3.1 General

        $82.00

      2. 3.2 World Economic Overview

        $321.00

        1. Table | WORLD GROSS DOMESTIC PRODUCT BY REGION

        2. 3.2.1 Recent Historical Trends

          $95.00

        3. 3.2.2 World Economic Outlook

          $173.00

      3. 3.3 World Population Outlook

        $137.00

        1. Table | WORLD POPULATION BY REGION

      4. 3.4 Gross Fixed Investment

        $110.00

        1. Table | WORLD GROSS FIXED INVESTMENT BY REGION

      5. 3.5 World Manufacturing Outlook

        $190.00

        1. Table | WORLD MANUFACTURING VALUE ADDED BY REGION

      6. 3.6 World Machinery Overview

        $136.00

        1. Table | WORLD MACHINERY MANUFACTURING VALUE ADDED BY REGION

      7. 3.7 World Lighting Outlook

        $131.00

        1. CHART II-1 WORLD LIGHTING SHIPMENTS BY REGION, 2014

      8. 3.8 Technology Trends

        $120.00

      9. 3.9 Functional Competition

        $96.00

      10. 3.10 Pricing Patterns

        $112.00

        1. CHART II-2 HISTORICAL TUNGSTEN PRICING, 2004-2014

      11. 3.11 Legal & Regulatory Environment

        $239.00

    4. 4 WORLD TUNGSTEN MINING & PROCESSING OVERVIEW

      $754.00

      1. 4.1 General

        $82.00

      2. 4.2 Tungsten Reserves by Country

        $97.00

        1. Table | WORLD TUNGSTEN ORE RESERVES BY COUNTRY, 2014

      3. 4.3 Tungsten Mine Production by Country

        $227.00

        1. Table | WORLD TUNGSTEN MINE PRODUCTION BY COUNTRY

        2. 4.3.1 China

          $82.00

        3. 4.3.2 Russia

          $82.00

        4. 4.3.3 Canada

          $82.00

        5. 4.3.4 Other Countries

          $82.00

      4. 4.4 Tungsten Ore & Concentrates International Trade

        $82.00

        1. CHART III-1 WORLD TUNGSTEN ORE & CONCENTRATES NET EXPORTS BY REGION, 2014

      5. 4.5 Tungsten Processing

        $284.00

        1. 4.5.1 Ammonium Paratungstate

          $84.00

          1. Table | WORLD AMMONIUM PARATUNGSTATE SHIPMENTS BY REGION

        2. 4.5.2 Tungsten Scrap

          $137.00

          1. Table | WORLD TUNGSTEN SCRAP DEMAND BY REGION

    5. 5 WORLD SUPPLY & DEMAND

      $1,185.00

      1. 5.1 General

        $82.00

      2. 5.2 World Tungsten Demand

        $153.00

        1. Table | WORLD TUNGSTEN DEMAND BY REGION

        2. CHART IV-1 WORLD TUNGSTEN DEMAND BY REGION, 2014

      3. 5.3 Demand by Product

        $738.00

        1. Table | WORLD TUNGSTEN DEMAND BY PRODUCT

        2. CHART IV-2 WORLD TUNGSTEN DEMAND BY PRODUCT, 2014

        3. 5.3.1 Cemented Carbides

          $187.00

          1. Table | WORLD TUNGSTEN CEMENTED CARBIDES DEMAND BY APPLICATION & REGION

        4. 5.3.2 Tungsten Alloys

          $160.00

          1. Table | WORLD TUNGSTEN ALLOYS DEMAND BY APPLICATION & REGION

        5. 5.3.3 Tungsten Mill Products

          $151.00

          1. Table | WORLD TUNGSTEN MILL PRODUCTS DEMAND BY APPLICATION & REGION

        6. 5.3.4 Tungsten Chemicals & Other

          $146.00

          1. Table | WORLD TUNGSTEN CHEMICALS & OTHER DEMAND BY APPLICATION & REGION

      4. 5.4 Processed Tungsten Shipments

        $101.00

        1. Table | WORLD TUNGSTEN SHIPMENTS BY REGION

      5. 5.5 International Trade

        $125.00

        1. Table | WORLD TUNGSTEN NET EXPORTS BY REGION

    6. 6 NORTH AMERICA

      $1,407.00

      1. 6.1 North America: Overview

        $100.00

      2. 6.2 North America: Supply & Demand

        $130.00

        1. Table | NORTH AMERICA: TUNGSTEN SUPPLY & DEMAND

        2. CHART V-1 NORTH AMERICA: TUNGSTEN DEMAND BY COUNTRY, 2014

      3. 6.3 North America: Tungsten Applications

        $103.00

        1. Table | NORTH AMERICA: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      4. 6.4 United States

        $435.00

        1. 6.4.1 United States: Overview

          $98.00

        2. 6.4.2 United States: Supply & Demand

          $193.00

          1. CHART V-2 US NATIONAL DEFENSE STOCKPILE ORE & CONCENTRATES STOCKS & SALES, 2004-2014

          2. Table | UNITED STATES: TUNGSTEN SUPPLY & DEMAND

        3. 6.4.3 United States: Tungsten Applications

          $143.00

          1. Table | UNITED STATES: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      5. 6.5 Canada

        $322.00

        1. 6.5.1 Canada: Overview

          $94.00

        2. 6.5.2 Canada: Supply & Demand

          $141.00

          1. Table | CANADA: TUNGSTEN SUPPLY & DEMAND

        3. 6.5.3 Canada: Tungsten Applications

          $86.00

          1. Table | CANADA: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      6. 6.6 Mexico

        $316.00

        1. 6.6.1 Mexico: Overview

          $104.00

        2. 6.6.2 Mexico: Supply & Demand

          $114.00

          1. Table | MEXICO: TUNGSTEN SUPPLY & DEMAND

        3. 6.6.3 Mexico: Tungsten Applications

          $98.00

          1. Table | MEXICO: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

    7. 7 WESTERN EUROPE

      $2,651.00

      1. 7.1 Western Europe: Overview

        $123.00

      2. 7.2 Western Europe: Supply & Demand

        $137.00

        1. Table | WESTERN EUROPE: TUNGSTEN SUPPLY & DEMAND

        2. CHART VI-1 WESTERN EUROPE: TUNGSTEN DEMAND BY COUNTRY, 2014

      3. 7.3 Western Europe: Tungsten Applications

        $103.00

        1. Table | WESTERN EUROPE: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      4. 7.4 Germany

        $355.00

        1. 7.4.1 Germany: Overview

          $103.00

        2. 7.4.2 Germany: Supply & Demand

          $160.00

          1. Table | GERMANY: TUNGSTEN SUPPLY & DEMAND

        3. 7.4.3 Germany: Tungsten Applications

          $92.00

          1. Table | GERMANY: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      5. 7.5 United Kingdom

        $327.00

        1. 7.5.1 United Kingdom: Overview

          $104.00

        2. 7.5.2 United Kingdom: Supply & Demand

          $123.00

          1. Table | UNITED KINGDOM: TUNGSTEN SUPPLY & DEMAND

        3. 7.5.3 United Kingdom: Tungsten Applications

          $99.00

          1. Table | UNITED KINGDOM: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      6. 7.6 Italy

        $324.00

        1. 7.6.1 Italy: Overview

          $139.00

        2. 7.6.2 Italy: Supply & Demand

          $100.00

          1. Table | ITALY: TUNGSTEN SUPPLY & DEMAND

        3. 7.6.3 Italy: Tungsten Applications

          $85.00

          1. Table | ITALY: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      7. 7.7 France

        $333.00

        1. 7.7.1 France: Overview

          $134.00

        2. 7.7.2 France: Supply & Demand

          $101.00

          1. Table | FRANCE: TUNGSTEN SUPPLY & DEMAND

        3. 7.7.3 France: Tungsten Applications

          $98.00

          1. Table | FRANCE: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      8. 7.8 Sweden

        $266.00

        1. 7.8.1 Sweden: Overview

          $82.00

        2. 7.8.2 Sweden: Supply & Demand

          $94.00

          1. Table | SWEDEN: TUNGSTEN SUPPLY & DEMAND

        3. 7.8.3 Sweden: Tungsten Applications

          $92.00

          1. Table | SWEDEN: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      9. 7.9 Spain

        $318.00

        1. 7.9.1 Spain: Overview

          $112.00

        2. 7.9.2 Spain: Supply & Demand

          $115.00

          1. Table | SPAIN: TUNGSTEN SUPPLY & DEMAND

        3. 7.9.3 Spain: Tungsten Applications

          $91.00

          1. Table | SPAIN: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      10. 7.10 Other Western Europe

        $363.00

        1. 7.10.1 Other Western Europe: Overview

          $127.00

        2. 7.10.2 Other Western Europe: Supply & Demand

          $137.00

          1. Table | OTHER WESTERN EUROPE: TUNGSTEN SUPPLY & DEMAND

        3. 7.10.3 Other Western Europe: Tungsten Applications

          $97.00

          1. Table | OTHER WESTERN EUROPE: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

    8. 8 ASIA/PACIFIC

      $2,428.00

      1. 8.1 Asia/Pacific: Overview

        $103.00

      2. 8.2 Asia/Pacific: Supply & Demand

        $121.00

        1. Table | ASIA/PACIFIC: TUNGSTEN SUPPLY & DEMAND

        2. CHART VII-1 ASIA/PACIFIC: TUNGSTEN DEMAND BY COUNTRY, 2014

      3. 8.3 Asia/Pacific: Tungsten Applications

        $98.00

        1. Table | ASIA/PACIFIC: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      4. 8.4 China

        $442.00

        1. 8.4.1 China: Overview

          $135.00

        2. 8.4.2 China: Supply & Demand

          $182.00

          1. Table | CHINA: TUNGSTEN SUPPLY & DEMAND

        3. 8.4.3 China: Tungsten Applications

          $125.00

          1. Table | CHINA: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      5. 8.5 Japan

        $355.00

        1. 8.5.1 Japan: Overview

          $118.00

        2. 8.5.2 Japan: Supply & Demand

          $120.00

          1. Table | JAPAN: TUNGSTEN SUPPLY & DEMAND

        3. 8.5.3 Japan: Tungsten Applications

          $117.00

          1. Table | JAPAN: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      6. 8.6 South Korea

        $315.00

        1. 8.6.1 South Korea: Overview

          $113.00

        2. 8.6.2 South Korea: Supply & Demand

          $109.00

          1. Table | SOUTH KOREA: TUNGSTEN SUPPLY & DEMAND

        3. 8.6.3 South Korea: Tungsten Applications

          $93.00

          1. Table | SOUTH KOREA: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      7. 8.7 India

        $349.00

        1. 8.7.1 India: Overview

          $127.00

        2. 8.7.2 India: Supply & Demand

          $104.00

          1. Table | INDIA: TUNGSTEN SUPPLY & DEMAND

        3. 8.7.3 India: Tungsten Applications

          $118.00

          1. Table | INDIA: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      8. 8.8 Taiwan

        $310.00

        1. 8.8.1 Taiwan: Overview

          $114.00

        2. 8.8.2 Taiwan: Supply & Demand

          $112.00

          1. Table | TAIWAN: TUNGSTEN SUPPLY & DEMAND

        3. 8.8.3 Taiwan: Tungsten Applications

          $83.00

          1. Table | TAIWAN: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      9. 8.9 Other Asia/Pacific

        $334.00

        1. 8.9.1 Other Asia/Pacific: Overview

          $97.00

        2. 8.9.2 Other Asia/Pacific: Supply & Demand

          $131.00

          1. Table | OTHER ASIA/PACIFIC: TUNGSTEN SUPPLY & DEMAND

        3. 8.9.3 Other Asia/Pacific: Tungsten Applications

          $105.00

          1. Table | OTHER ASIA/PACIFIC: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

    9. 9 OTHER REGIONS

      $2,199.00

      1. 9.1 Central & South America

        $946.00

        1. 9.1.1 Central & South America: Overview

          $104.00

        2. 9.1.2 Central & South America: Supply & Demand

          $108.00

          1. Table | CENTRAL & SOUTH AMERICA: TUNGSTEN SUPPLY & DEMAND

        3. 9.1.3 Central & South America: Tungsten Applications

          $88.00

          1. Table | CENTRAL & SOUTH AMERICA: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

        4. 9.1.4 Brazil

          $348.00

          1. Table | BRAZIL: TUNGSTEN SUPPLY & DEMAND

          2. Table | BRAZIL: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

        5. 9.1.5 Other Central & South America

          $298.00

          1. Table | OTHER CENTRAL & SOUTH AMERICA: TUNGSTEN SUPPLY & DEMAND

          2. Table | OTHER CENTRAL & SOUTH AMERICA: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      2. 9.2 Eastern Europe

        $947.00

        1. 9.2.1 Eastern Europe: Overview

          $106.00

        2. 9.2.2 Eastern Europe: Supply & Demand

          $115.00

          1. Table | EASTERN EUROPE: TUNGSTEN SUPPLY & DEMAND

        3. 9.2.3 Eastern Europe: Tungsten Applications

          $86.00

          1. Table | EASTERN EUROPE: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

        4. 9.2.4 Russia

          $331.00

          1. Table | RUSSIA: TUNGSTEN SUPPLY & DEMAND

          2. Table | RUSSIA: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

        5. 9.2.5 Other Eastern Europe

          $308.00

          1. Table | OTHER EASTERN EUROPE: TUNGSTEN SUPPLY & DEMAND

          2. Table | OTHER EASTERN EUROPE: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

      3. 9.3 Africa/Mideast

        $305.00

        1. 9.3.1 Africa/Mideast: Overview

          $118.00

        2. 9.3.2 Africa/Mideast: Supply & Demand

          $103.00

          1. Table | AFRICA/MIDEAST: TUNGSTEN SUPPLY & DEMAND

        3. 9.3.3 Africa/Mideast: Tungsten Applications

          $83.00

          1. Table | AFRICA/MIDEAST: TUNGSTEN DEMAND BY PRODUCT & APPLICATION

    10. 10 INDUSTRY STRUCTURE

      $4,591.00

      1. 10.1 General

        $82.00

      2. 10.2 Industry Composition

        $126.00

        1. Table | PROCESSED TUNGSTEN SALES BY COMPANY, 2014

      3. 10.3 Market Share

        $361.00

        1. CHART IX-1 WORLD PROCESSED TUNGSTEN MARKET SHARE BY COMPANY, 2014

      4. 10.4 Acquisitions & Divestitures

        $134.00

        1. Table | SELECTED ACQUISITIONS & DIVESTITURES

      5. 10.5 Mining & Manufacturing

        $128.00

        1. CHART IX-2 TUNGSTEN MATERIAL FLOW

      6. 10.6 Competitive Strategies

        $82.00

      7. 10.7 Marketing & Distribution

        $82.00

      8. 10.8 Cooperative Agreements

        $159.00

        1. Table | SELECTED COOPERATIVE AGREEMENTS

      9. 10.9 Company Profiles

        $3,420.00

        1. 10.9.1 Berkshire Hathaway Incorporated

          $112.00

        2. 10.9.2 Buffalo Tungsten Incorporated

          $111.00

        3. 10.9.3 China Minmetals Corporation

          $306.00

        4. 10.9.4 China Molybdenum Company Limited

          $129.00

        5. 10.9.5 Chongyi Zhangyuan Tungsten Company Limited

          $82.00

        6. 10.9.6 Eramet SA

          $164.00

        7. 10.9.7 Federal Carbide Company

          $105.00

        8. 10.9.8 Guangdong Xianglu Tungsten Company Limited

          $82.00

        9. 10.9.9 HC Starck GmbH

          $238.00

        10. 10.9.10 INDUS Holding AG

          $84.00

        11. 10.9.11 Jiangxi Rare Earth and Rare Metals Tungsten Group Corporation

          $183.00

        12. 10.9.12 Jiangxi Yaosheng Tungsten Company Limited

          $82.00

        13. 10.9.13 Kennametal Incorporated

          $224.00

        14. 10.9.14 Metalico Incorporated

          $82.00

        15. 10.9.15 Mitsubishi Materials Corporation

          $123.00

        16. 10.9.16 Nippon Tungsten Company Limited

          $82.00

        17. 10.9.17 Noble Group Limited

          $84.00

        18. 10.9.18 Plansee Holding AG

          $378.00

        19. 10.9.19 Sandvik AB

          $211.00

        20. 10.9.20 Sumitomo Electric Industries Limited

          $253.00

        21. 10.9.21 WOLFRAM Company CJSC

          $102.00

        22. 10.9.22 Xiamen Tungsten Company Limited

          $270.00

      10. 10.10 Other Companies Mentioned in Study

        $82.00

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