Tungsten market growth is accelerating with the rising use of cemented-carbide cutting tools in automotive and aerospace manufacturing, where demand for higher machining accuracy, wear resistance, and longer tool life continues to increase alongside lightweight alloys and advanced composites.
Hyderabad, India, Feb. 11, 2026 (GLOBE NEWSWIRE) — The tungsten market size is projected to grow from about 141 kilotons in 2026 to roughly 177 kilotons by 2031, reflecting a 4.65% CAGR. Tungsten market growth is being fueled by precision manufacturing, defense spending, and emerging energy technologies, even during periods of softer pricing. Tungsten wire remains widely used in EDM processes and high-temperature systems, while tubes are the fastest-growing form as aerospace programs adopt tungsten alloys for hypersonic components. Tungsten carbide still accounts for the largest share due to cutting tools, but chemicals like ammonium paratungstate and tungsten hexafluoride are gaining traction in semiconductors and batteries.
Tungsten Market Trends & Forecast
Shrinking Electronics Driving Advanced Interconnect Materials
As chip designs move to ever-smaller architectures, tungsten is becoming a preferred material for contacts and interconnects due to its stability at extreme scales. Leading semiconductor producers are expanding capacity and investing in next-generation deposition techniques, while new tungsten-based barrier materials are emerging through patent activity. The rise of advanced packaging, including stacked and modular chips, is further increasing tungsten usage per device, strengthening electronics as a long-term demand driver.
Military Shift Toward Tungsten-Based Penetration Systems
Defense programs are increasingly favoring tungsten-heavy alloys for armor-penetrating applications, largely to avoid the environmental and regulatory issues tied to alternative materials. Ongoing procurement programs and domestic qualification efforts across multiple countries are reinforcing demand. As stockpiling and replenishment efforts accelerate, availability in commercial channels is tightening, indirectly supporting pricing and longer delivery timelines
For a full breakdown of market dynamics, segmentation insights, regional analysis, and competitive landscape, access the details of the Mordor Intelligence report: https://www.mordorintelligence.com/industry-reports/tungsten-market?utm_source=globenewswire
Segmentation Dynamics:
By Product Type
- Foils
- Ribbons
- Wires
- Tubes
By Product Form
- Tungsten carbides
- Tungsten alloys
- Tungsten mill products
- Tungsten chemicals
By End-use Industry
- Automotive
- Aerospace
- Electrical and electronics
- Machine tools and equipment
- Other end users
- Energy storage and batteries
- Medical imaging and oncology
By Geography
- Asia-Pacific
- North America
- Europe
- Rest of the World
Tungsten Companies
- A.L.M.T. Corp.
- Allegheny Technologies Inc.
- Avis Metal Industries Limited
- Betek GmbH and Co. KG
- Buffalo Tungsten Inc.
- China Minmetals Non-Ferrous Metals Co.
- China Molybdenum Co., Ltd.
- Chongyi Zhangyuan Tungsten Co.
- Elmet Technologies
- Global Tungsten and Powders
- Guangdong XiangLu Tungsten Co.
- H.C. Starck Tungsten GmbH
- International Metalworking Companies
- Jiangxi Tungsten Holding Group
- Jiangxi Yaosheng Tungsten
- Kennametal Inc.
- Nippon Tungsten Co., Ltd.
- Ormonde Mining plc
- Plansee SE
- QuesTek Innovations LLC
- Sandvik AB
- Treibacher Industrie AG
- Umicore N.V.
- Wolf Minerals Ltd.
- WOLFRAM Company JSC
- Xiamen Tungsten Co., Ltd.
Explore More on Chemicals & Materials Global Research: https://www.mordorintelligence.com/market-analysis/chemicals-materials?utm_source=globenewswire
Regional Performance: Emerging Regions Supporting Incremental Supply Growth
North America continues to rely heavily on external supply, which has pushed governments and industry to invest in local refining and recycling initiatives. Upcoming mining projects in Canada are expected to ease supply risks, and growing automotive manufacturing activity in Mexico is lifting demand for carbide-based tooling across nearshored production lines.
Europe faces intense price pressure from imported materials, prompting a stronger focus on recycling and circular supply chains. Regulatory measures are accelerating investment in scrap-processing capacity, while geopolitical constraints have reshaped sourcing patterns toward alternative suppliers. Beyond these regions, smaller contributions from Latin America, Africa, and the Middle East provide incremental supply, with a handful of countries playing an increasingly visible role.
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