Global Tungsten Market Size & Outlook, 2025-2033
Global tungsten market, 2021-2033 (US$M)
Related Markets
Global tungsten market highlights
- The global tungsten market generated a revenue of USD 1,862.4 million in 2024 and is expected to reach USD 2,838.0 million by 2033.
- The market is expected to grow at a CAGR (2025 - 2033) of 4.7% by 2033.
- In terms of segment, automotive accounted for a revenue of USD 501.4 million in 2024.
- Automotive is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2024.
- Country-wise, China is expected to register the highest CAGR from 2025 to 2033.
Global data book summary
| Market revenue in 2024 | USD 1,862.4 million |
| Market revenue in 2033 | USD 2,838.0 million |
| Growth rate | 4.7% (CAGR from 2025 to 2033) |
| Largest segment | Automotive |
| Fastest growing segment | Automotive |
| Historical data covered | 2021 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Aerospace & Defense, Construction, Automotive, Mining & Energy, Electronics & Robotics |
Other key industry trends
- In terms of revenue, the North America accounted for 18.0% of the global tungsten market in 2024.
- By country, the China is projected to lead the global market in terms of revenue in 2033.
- By country, China is the fastest growing regional market and is projected to reach USD 1,074.0 million by 2033.
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Tungsten Market Scope
Tungsten Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| BETEK | View profile | 251-500 | Aichhalden, Baden-Wurttemberg, Germany, Europe | https://www.betek.de/ |
| Plansee | View profile | 501-1000 | Reutte, Tirol, Austria, Europe | https://www.plansee.com/ |
| Global Tungsten & Powders | View profile | 501-1000 | Towanda, Pennsylvania, United States, North America | http://www.globaltungsten.com/en/ |
| A.L.M.T. | View profile | 1001-5000 | Tokyo, Tokyo, Japan, Asia | https://www.allied-material.co.jp |
| H.C. Starck | View profile | 1001-5000 | Euclid, Ohio, United States, North America | http://www.hcstarck.com |
| China Tungsten and Hightech Materials | View profile | 5001-10000 | Zhuzhou, Hunan, China, Asia | https://www.minmetalstungsten.com/ |
| Umicore SA ADR | View profile | 11948 | Rue du Marais 31 Broekstraat, Brussels, Belgium, B-1000 | https://www.umicore.com |
| Sandvik AB | View profile | 40614 | Kungsbron 1, Section G, Floor 6, Stockholm, Sweden, 111 22 | https://www.sandvik.com |
Global tungsten market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to tungsten market will help companies and investors design strategic landscapes.
Automotive was the largest segment with a revenue share of 26.92% in 2024. Horizon Databook has segmented the Global tungsten market based on aerospace & defense, construction, automotive, mining & energy, electronics & robotics covering the revenue growth of each sub-segment from 2021 to 2033.
- Global Tungsten Application Outlook (Revenue, USD Million, 2021-2033)
- Aerospace & Defense
- Construction
- Automotive
- Mining & Energy
- Electronics & Robotics
- Others
- Global Tungsten Form Outlook (Revenue, USD Million, 2021-2033)
- Powder
- Mill Products
- Tungsten Carbide Components
- Others
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Target buyers of Global tungsten market databook
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Our clientele includes a mix of tungsten market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global tungsten market , including forecasts for subscribers. This global databook contains high-level insights into Global tungsten market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Partial client list
Global tungsten market size, by regions, 2021-2033 (US$M)
Top 10 countries: Tungsten market size, 2024 (US$M)
Global tungsten market share, by application, 2024 & 2033 (%, US$M)
Tungsten market: Opportunity assessment by country
Global tungsten market, by region, 2024 (US$M)
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