Tungsten Mining Market Insights 2025, Analysis and Forecast to 2030, by Manufacturers, Regions, Technology, Application

By: HDIN Research Published: 2025-04-13 Pages: 83
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Tungsten Mining Market Summary
Introduction
Tungsten mining supports a specialized market critical for high-strength alloys, electronics, and industrial applications, with global resources widely distributed across China, Russia, and other regions, though China dominates with over 80% of 2024’s 81,000-ton production, down 1.89% from 2023’s 79,500 tons. The industry is defined by its resilience to high temperatures and corrosion, making tungsten indispensable in cutting tools, aerospace, and defense. China remains the leading consumer, bolstered by its manufacturing and infrastructure sectors, while the U.S. introduced a 25% tariff on Chinese tungsten imports in September 2024, reflecting trade tensions. Tungsten supply is adequate for future needs, but production is constrained by declining output and limited new projects. Consumption, estimated to have risen slightly in 2024, is closely tied to economic conditions and industrial activity, with demand supported by clean energy and infrastructure initiatives globally.

Market Size and Growth Forecast
The global tungsten mining market is projected to reach USD 4 billion to USD 6 billion by 2025, with an estimated CAGR of 2% to 3% through 2030, driven by steady industrial demand and constrained supply growth.

Regional Analysis
Asia Pacific expects growth of 2.5% to 3.5%, with China’s dominance tempered by export controls and tariffs affecting global supply chains. North America anticipates 1.5% to 2.5%, with the U.S. seeking domestic alternatives amid trade disputes. Europe projects 1.8% to 2.8%, relying on imports for industrial needs. South America and Africa expect 1% to 2%, with Bolivia and Rwanda contributing modestly.

Application Analysis
Tungsten Alloy: Projected at 2% to 3%, dominates due to its use in aerospace and tools, with trends toward advanced composites.
Tungsten Metal: Expected at 1.8% to 2.5%, serves electronics and lighting, with stable growth.
Tungsten Chemicals: Anticipated at 1.5% to 2%, used in catalysts, with niche applications expanding.

Key Market Players
China Minmetals: A Chinese state-owned leader, Minmetals controls significant tungsten output.
Rising Nonferrous Metals: A Chinese firm, Rising focuses on tungsten and rare metals.
Xiamen Tungsten: A Chinese company, Xiamen is a top tungsten producer and exporter.
Zhangyuan Tungsten: A Chinese player, Zhangyuan supplies tungsten for industrial uses.
CMOC Group: A Chinese giant, CMOC integrates tungsten with other metals.
MASAN Group: A Vietnamese firm, MASAN mines tungsten for regional markets.
Almonty Industries: A Canadian company, Almonty operates tungsten mines globally.
W Resources: A UK-based firm, W Resources focuses on European tungsten projects.
Saloro: A Spanish company, Saloro develops tungsten mining in Spain.
MALAMET: An Indian firm, MALAMET supplies tungsten to local industries.

Porter’s Five Forces Analysis
●Threat of New Entrants: Low. High barriers and China’s dominance limit entry.
●Threat of Substitutes: Moderate. Alternatives like molybdenum compete in some uses.
●Bargaining Power of Buyers: Moderate. Industrial buyers have options, but supply concentration strengthens producers.
●Bargaining Power of Suppliers: High. China’s control enhances supplier leverage.
●Competitive Rivalry: Moderate. Chinese firms dominate, with Western players vying for diversification.

Market Opportunities and Challenges
Opportunities
●Industrial Demand: Infrastructure and clean energy boost consumption.
●Diversification: Non-Chinese projects gain traction.
●Tech Advances: Improved extraction enhances efficiency.
●Stable Reserves: Global resources ensure supply.
●Defense Needs: Military applications sustain demand.
Challenges
●China Dependency: Overreliance risks supply disruptions.
●Tariff Impacts: U.S. trade policies increase costs.
●Declining Output: Production dips challenge growth.
●Environmental Regulations: Stricter rules raise costs.
●Economic Sensitivity: Demand fluctuates with industrial cycles.
Table of Contents
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Sources
3.2.1 Data Sources
3.2.2 Assumptions
3.3 Research Method
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Tungsten Mining Analysis
6.2.1 Technology Analysis
6.2.2 Cost Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Trading Analysis
8.1 Export of Tungsten Mining by Region
8.2 Import of Tungsten Mining by Region
8.3 Balance of Trade
Chapter 9 Historical and Forecast Tungsten Mining Market in North America (2020-2030)
9.1 Tungsten Mining Market Size
9.2 Tungsten Mining Demand by End Use
9.3 Competition by Players/Suppliers
9.4 Type Segmentation and Price
9.5 Key Countries Analysis
9.5.1 United States
9.5.2 Canada
9.5.3 Mexico
Chapter 10 Historical and Forecast Tungsten Mining Market in South America (2020-2030)
10.1 Tungsten Mining Market Size
10.2 Tungsten Mining Demand by End Use
10.3 Competition by Players/Suppliers
10.4 Type Segmentation and Price
10.5 Key Countries Analysis
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Chile
10.5.4 Peru
Chapter 11 Historical and Forecast Tungsten Mining Market in Asia & Pacific (2020-2030)
11.1 Tungsten Mining Market Size
11.2 Tungsten Mining Demand by End Use
11.3 Competition by Players/Suppliers
11.4 Type Segmentation and Price
11.5 Key Countries Analysis
11.5.1 China
11.5.2 India
11.5.3 Japan
11.5.4 South Korea
11.5.5 Asean
11.5.6 Australia
Chapter 12 Historical and Forecast Tungsten Mining Market in Europe (2020-2030)
12.1 Tungsten Mining Market Size
12.2 Tungsten Mining Demand by End Use
12.3 Competition by Players/Suppliers
12.4 Type Segmentation and Price
12.5 Key Countries Analysis
12.5.1 Germany
12.5.2 France
12.5.3 United Kingdom
12.5.4 Italy
12.5.5 Spain
12.5.6 Belgium
12.5.7 Netherlands
12.5.8 Austria
12.5.9 Poland
12.5.10 Russia
Chapter 13 Historical and Forecast Tungsten Mining Market in MEA (2020-2030)
13.1 Tungsten Mining Market Size
13.2 Tungsten Mining Demand by End Use
13.3 Competition by Players/Suppliers
13.4 Type Segmentation and Price
13.5 Key Countries Analysis
13.5.1 Egypt
13.5.2 Israel
13.5.3 South Africa
13.5.4 Gulf Cooperation Council Countries
13.5.5 Turkey
Chapter 14 Summary For Global Tungsten Mining Market (2020-2030)
14.1 Tungsten Mining Market Size
14.2 Tungsten Mining Demand by End Use
14.3 Competition by Players/Suppliers
14.4 Type Segmentation and Price
Chapter 15 Global Tungsten Mining Market Forecast (2021-2026)
15.1 Tungsten Mining Market Size Forecast
15.2 Tungsten Mining Demand Forecast
15.3 Competition by Players/Suppliers
15.4 Type Segmentation and Price Forecast
Chapter 16 Analysis of Global Key Vendors
15.1 China Minmetals
15.1.1 Company Profile
15.1.2 Main Business and Tungsten Mining Information
15.1.3 SWOT Analysis of China Minmetals
15.1.4 China Minmetals Tungsten Mining Sales, Revenue, Price and Gross Margin (2020-2025)
15.2 Rising Nonferrous Metals
15.2.1 Company Profile
15.2.2 Main Business and Tungsten Mining Information
15.2.3 SWOT Analysis of Rising Nonferrous Metals
15.2.4 Rising Nonferrous Metals Tungsten Mining Sales, Revenue, Price and Gross Margin (2020-2025)
15.3 Xiamen Tungsten
15.3.1 Company Profile
15.3.2 Main Business and Tungsten Mining Information
15.3.3 SWOT Analysis of Xiamen Tungsten
15.3.4 Xiamen Tungsten Tungsten Mining Sales, Revenue, Price and Gross Margin (2020-2025)
15.4 Zhangyuan Tungsten
15.4.1 Company Profile
15.4.2 Main Business and Tungsten Mining Information
15.4.3 SWOT Analysis of Zhangyuan Tungsten
15.4.4 Zhangyuan Tungsten Tungsten Mining Sales, Revenue, Price and Gross Margin (2020-2025)
15.5 CMOC Group
15.5.1 Company Profile
15.5.2 Main Business and Tungsten Mining Information
15.5.3 SWOT Analysis of CMOC Group
15.5.4 CMOC Group Tungsten Mining Sales, Revenue, Price and Gross Margin (2020-2025)
15.6 MASAN Group
15.6.1 Company Profile
15.6.2 Main Business and Tungsten Mining Information
15.6.3 SWOT Analysis of MASAN Group
15.6.4 MASAN Group Tungsten Mining Sales, Revenue, Price and Gross Margin (2020-2025)
Please ask for sample pages for full companies list
Table Abbreviation And Acronyms List
Table Research Scope Of Tungsten Mining Report
Table Data Sources Of Tungsten Mining Report
Table Major Assumptions Of Tungsten Mining Report
Table Tungsten Mining Classification
Table Tungsten Mining Applications List
Table Drivers Of Tungsten Mining Market
Table Restraints Of Tungsten Mining Market
Table Opportunities Of Tungsten Mining Market
Table Threats Of Tungsten Mining Market
Table Raw Materials Suppliers List
Table Different Production Methods Of Tungsten Mining
Table Cost Structure Analysis Of Tungsten Mining
Table Key End Users List
Table Latest News Of Tungsten Mining Market
Table Merger And Acquisition List
Table Planned/Future Project Of Tungsten Mining Market
Table Policy Of Tungsten Mining Market
Table 2020-2030 Regional Export Of Tungsten Mining
Table 2020-2030 Regional Import Of Tungsten Mining
Table 2020-2030 Regional Trade Balance
Table 2020-2030 North America Tungsten Mining Market Size And Market Volume List
Table 2020-2030 North America Tungsten Mining Demand List By Application
Table 2020-2025 North America Tungsten Mining Key Players Sales List
Table 2020-2025 North America Tungsten Mining Key Players Market Share List
Table 2020-2030 North America Tungsten Mining Demand List By Type
Table 2020-2025 North America Tungsten Mining Price List By Type
Table 2020-2030 United States Tungsten Mining Market Size And Market Volume List
Table 2020-2030 United States Tungsten Mining Import & Export List
Table 2020-2030 Canada Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Canada Tungsten Mining Import & Export List
Table 2020-2030 Mexico Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Mexico Tungsten Mining Import & Export List
Table 2020-2030 South America Tungsten Mining Market Size And Market Volume List
Table 2020-2030 South America Tungsten Mining Demand List By Application
Table 2020-2025 South America Tungsten Mining Key Players Sales List
Table 2020-2025 South America Tungsten Mining Key Players Market Share List
Table 2020-2030 South America Tungsten Mining Demand List By Type
Table 2020-2025 South America Tungsten Mining Price List By Type
Table 2020-2030 Brazil Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Brazil Tungsten Mining Import & Export List
Table 2020-2030 Argentina Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Argentina Tungsten Mining Import & Export List
Table 2020-2030 Chile Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Chile Tungsten Mining Import & Export List
Table 2020-2030 Peru Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Peru Tungsten Mining Import & Export List
Table 2020-2030 Asia & Pacific Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Asia & Pacific Tungsten Mining Demand List By Application
Table 2020-2025 Asia & Pacific Tungsten Mining Key Players Sales List
Table 2020-2025 Asia & Pacific Tungsten Mining Key Players Market Share List
Table 2020-2030 Asia & Pacific Tungsten Mining Demand List By Type
Table 2020-2025 Asia & Pacific Tungsten Mining Price List By Type
Table 2020-2030 China Tungsten Mining Market Size And Market Volume List
Table 2020-2030 China Tungsten Mining Import & Export List
Table 2020-2030 India Tungsten Mining Market Size And Market Volume List
Table 2020-2030 India Tungsten Mining Import & Export List
Table 2020-2030 Japan Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Japan Tungsten Mining Import & Export List
Table 2020-2030 South Korea Tungsten Mining Market Size And Market Volume List
Table 2020-2030 South Korea Tungsten Mining Import & Export List
Table 2020-2030 Southeast Asia Tungsten Mining Market Size List
Table 2020-2030 Southeast Asia Tungsten Mining Market Volume List
Table 2020-2030 Southeast Asia Tungsten Mining Import List
Table 2020-2030 Southeast Asia Tungsten Mining Export List
Table 2020-2030 Australia Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Australia Tungsten Mining Import & Export List
Table 2020-2030 Europe Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Europe Tungsten Mining Demand List By Application
Table 2020-2025 Europe Tungsten Mining Key Players Sales List
Table 2020-2025 Europe Tungsten Mining Key Players Market Share List
Table 2020-2030 Europe Tungsten Mining Demand List By Type
Table 2020-2025 Europe Tungsten Mining Price List By Type
Table 2020-2030 Germany Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Germany Tungsten Mining Import & Export List
Table 2020-2030 France Tungsten Mining Market Size And Market Volume List
Table 2020-2030 France Tungsten Mining Import & Export List
Table 2020-2030 United Kingdom Tungsten Mining Market Size And Market Volume List
Table 2020-2030 United Kingdom Tungsten Mining Import & Export List
Table 2020-2030 Italy Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Italy Tungsten Mining Import & Export List
Table 2020-2030 Spain Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Spain Tungsten Mining Import & Export List
Table 2020-2030 Belgium Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Belgium Tungsten Mining Import & Export List
Table 2020-2030 Netherlands Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Netherlands Tungsten Mining Import & Export List
Table 2020-2030 Austria Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Austria Tungsten Mining Import & Export List
Table 2020-2030 Poland Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Poland Tungsten Mining Import & Export List
Table 2020-2030 Russia Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Russia Tungsten Mining Import & Export List
Table 2020-2030 Mea Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Mea Tungsten Mining Demand List By Application
Table 2020-2025 Mea Tungsten Mining Key Players Sales List
Table 2020-2025 Mea Tungsten Mining Key Players Market Share List
Table 2020-2030 Mea Tungsten Mining Demand List By Type
Table 2020-2025 Mea Tungsten Mining Price List By Type
Table 2020-2030 Egypt Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Egypt Tungsten Mining Import & Export List
Table 2020-2030 Israel Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Israel Tungsten Mining Import & Export List
Table 2020-2030 South Africa Tungsten Mining Market Size And Market Volume List
Table 2020-2030 South Africa Tungsten Mining Import & Export List
Table 2020-2030 Gulf Cooperation Council Countries Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Gulf Cooperation Council Countries Tungsten Mining Import & Export List
Table 2020-2030 Turkey Tungsten Mining Market Size And Market Volume List
Table 2020-2030 Turkey Tungsten Mining Import & Export List
Table 2020-2025 Global Tungsten Mining Market Size List By Region
Table 2020-2025 Global Tungsten Mining Market Size Share List By Region
Table 2020-2025 Global Tungsten Mining Market Volume List By Region
Table 2020-2025 Global Tungsten Mining Market Volume Share List By Region
Table 2020-2025 Global Tungsten Mining Demand List By Application
Table 2020-2025 Global Tungsten Mining Demand Market Share List By Application
Table 2020-2025 Global Tungsten Mining Capacity List
Table 2020-2025 Global Tungsten Mining Key Vendors Capacity Share List
Table 2020-2025 Global Tungsten Mining Key Vendors Production List
Table 2020-2025 Global Tungsten Mining Key Vendors Production Share List
Table 2020-2025 Global Tungsten Mining Key Vendors Production Value List
Table 2020-2025 Global Tungsten Mining Key Vendors Production Value Share List
Table 2020-2025 Global Tungsten Mining Demand List By Type
Table 2020-2025 Global Tungsten Mining Demand Market Share List By Type
Table 2020-2025 Regional Tungsten Mining Price List
Table 2025-2030 Global Tungsten Mining Market Size List By Region
Table 2025-2030 Global Tungsten Mining Market Size Share List By Region
Table 2025-2030 Global Tungsten Mining Market Volume List By Region
Table 2025-2030 Global Tungsten Mining Market Volume Share List By Region
Table 2025-2030 Global Tungsten Mining Demand List By Application
Table 2025-2030 Global Tungsten Mining Demand Market Share List By Application
Table 2025-2030 Global Tungsten Mining Capacity List
Table 2025-2030 Global Tungsten Mining Key Vendors Capacity Share List
Table 2025-2030 Global Tungsten Mining Key Vendors Production List
Table 2025-2030 Global Tungsten Mining Key Vendors Production Share List
Table 2025-2030 Global Tungsten Mining Key Vendors Production Value List
Table 2025-2030 Global Tungsten Mining Key Vendors Production Value Share List
Table 2025-2030 Global Tungsten Mining Demand List By Type
Table 2025-2030 Global Tungsten Mining Demand Market Share List By Type
Table 2025-2030 Tungsten Mining Regional Price List

Figure Market Size Estimated Method
Figure Major Forecasting Factors
Figure Tungsten Mining Picture
Figure 2020-2030 Regional Trade Balance
Figure 2020-2030 North America Tungsten Mining Market Size And Cagr
Figure 2020-2030 North America Tungsten Mining Market Volume And Cagr
Figure 2020-2030 South America Tungsten Mining Market Size And Cagr
Figure 2020-2030 South America Tungsten Mining Market Volume And Cagr
Figure 2020-2030 Asia & Pacific Tungsten Mining Market Size And Cagr
Figure 2020-2030 Asia & Pacific Tungsten Mining Market Volume And Cagr
Figure 2020-2030 Europe Tungsten Mining Market Size And Cagr
Figure 2020-2030 Europe Tungsten Mining Market Volume And Cagr
Figure 2020-2030 Mea Tungsten Mining Market Size And Cagr
Figure 2020-2030 Mea Tungsten Mining Market Volume And Cagr
Figure 2020-2025 Global Tungsten Mining Capacity Production And Growth Rate
Figure 2020-2025 Global Tungsten Mining Production Value And Growth Rate
Figure 2025-2030 Global Tungsten Mining Capacity Production And Growth Rate
Figure 2025-2030 Global Tungsten Mining Production Value And Growth Rate

Research Methodology

  • Market Estimated Methodology:

    Bottom-up & top-down approach, supply & demand approach are the most important method which is used by HDIN Research to estimate the market size.

1)Top-down & Bottom-up Approach

Top-down approach uses a general market size figure and determines the percentage that the objective market represents.

Bottom-up approach size the objective market by collecting the sub-segment information.

2)Supply & Demand Approach

Supply approach is based on assessments of the size of each competitor supplying the objective market.

Demand approach combine end-user data within a market to estimate the objective market size. It is sometimes referred to as bottom-up approach.

  • Forecasting Methodology
  • Numerous factors impacting the market trend are considered for forecast model:
  • New technology and application in the future;
  • New project planned/under contraction;
  • Global and regional underlying economic growth;
  • Threatens of substitute products;
  • Industry expert opinion;
  • Policy and Society implication.
  • Analysis Tools

1)PEST Analysis

PEST Analysis is a simple and widely used tool that helps our client analyze the Political, Economic, Socio-Cultural, and Technological changes in their business environment.

  • Benefits of a PEST analysis:
  • It helps you to spot business opportunities, and it gives you advanced warning of significant threats.
  • It reveals the direction of change within your business environment. This helps you shape what you’re doing, so that you work with change, rather than against it.
  • It helps you avoid starting projects that are likely to fail, for reasons beyond your control.
  • It can help you break free of unconscious assumptions when you enter a new country, region, or market; because it helps you develop an objective view of this new environment.

2)Porter’s Five Force Model Analysis

The Porter’s Five Force Model is a tool that can be used to analyze the opportunities and overall competitive advantage. The five forces that can assist in determining the competitive intensity and potential attractiveness within a specific area.

  • Threat of New Entrants: Profitable industries that yield high returns will attract new firms.
  • Threat of Substitutes: A substitute product uses a different technology to try to solve the same economic need.
  • Bargaining Power of Customers: the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.
  • Bargaining Power of Suppliers: Suppliers of raw materials, components, labor, and services (such as expertise) to the firm can be a source of power over the firm when there are few substitutes.
  • Competitive Rivalry: For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.

3)Value Chain Analysis

Value chain analysis is a tool to identify activities, within and around the firm and relating these activities to an assessment of competitive strength. Value chain can be analyzed by primary activities and supportive activities. Primary activities include: inbound logistics, operations, outbound logistics, marketing & sales, service. Support activities include: technology development, human resource management, management, finance, legal, planning.

4)SWOT Analysis

SWOT analysis is a tool used to evaluate a company's competitive position by identifying its strengths, weaknesses, opportunities and threats. The strengths and weakness is the inner factor; the opportunities and threats are the external factor. By analyzing the inner and external factors, the analysis can provide the detail information of the position of a player and the characteristics of the industry.

  • Strengths describe what the player excels at and separates it from the competition
  • Weaknesses stop the player from performing at its optimum level.
  • Opportunities refer to favorable external factors that the player can use to give it a competitive advantage.
  • Threats refer to factors that have the potential to harm the player.
  • Data Sources
Primary Sources Secondary Sources
Face to face/Phone Interviews with market participants, such as:
Manufactures;
Distributors;
End-users;
Experts.
Online Survey
Government/International Organization Data:
Annual Report/Presentation/Fact Book
Internet Source Information
Industry Association Data
Free/Purchased Database
Market Research Report
Book/Journal/News

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