Tungsten Powder Market Report 2024 (Global Edition)

Global Tungsten Powder Market Report 2024 Market Size Split by Type (FW-1, FW-2, FWP-1), by Application (Automotive, Mining, Aerospace and Aviation)

Tungsten Powder Market Report Description

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Tungsten Powder Market Insights Video

Competitive Landscape of the Tungsten Powder Market

Key competitors in the fiercely competitive tungsten powder market are concentrating on developing new products, growing their capacities, and forming strategic alliances. Notable businesses include Kennametal Inc., Chongyi Zhangyuan Tungsten Co., and H.C. Starck Tungsten Powders. These companies' established supply chains and R&D capacities give them an advantage. China's monopoly on tungsten mining has a big impact on the dynamics of the global market. Companies trying to meet the growing demand in additive manufacturing, aerospace, and defense while overcoming obstacles, including high production costs and supply chain concerns, are reshaping the competitive environment.

In March 2024, The first of a new line of Hardide Enhanced Components, featuring a JP-5000 4-inch copper nozzle for High-Velocity Oxy Fuel (HVOF) thermal spray painting, has been introduced by Hardide Coatings. When spraying carbide or metallic-based powders, the Hardide chemical vapor deposition (CVD) coating based on tungsten and tungsten carbide has been shown to increase the operating life of HVOF thermal spray copper nozzles by a factor of 5 to 40. (Source: https://hardide.com/hardide-coatings-launches-first-product-in-new-ready-coated-component-range/) In December 2023, The United States-based Buffalo Tungsten, Inc., a producer of tungsten powder and tungsten carbide powder with operations in North America, was purchased by Sweden-based Sandvik. Sandvik would bolster its regional manufacturing capabilities and increase its market share in North America with this acquisition. (Source: https://www.home.sandvik/en/news-and-media/news/2023/12/sandvik-completes-the-acquisition-of-buffalo-tungsten/) In February 2022, Stadler Metalle was fully acquired by Luxembourg-based CERATIZIT S.A. on March 1st, making it the company's sole proprietor. Trading and processing of secondary raw materials is the area of expertise for the latter. In order to ensure a continuous supply of raw materials for the manufacturing of tungsten and tungsten carbide powders, CERATIZIT S.A. reinforced its backward-link through this acquisition by integrating across the value chain. (Source: https://www.ceratizit.com/int/en/media/news---press-releases/2022/ceratizit-acquires-remaining-shares-in-stadler-metalle.html)

Top Companies Market Share in Tungsten Powder Industry: (In no particular order of Rank)

• Ceratizit S.A.
• China Tungsten Online (Xiamen) Manu. & Sales Corp.
• Chongyi ZhangYuan Tungsten Co.
• Ltd
• Extramet
• Federal Carbide Company
• Guangdong Xianglu Tungsten Co.
• Ltd.
• H.C. Starck GmbH
• Japan New Metal Co.
• Ltd
• Kennametal Inc.
• Merck KGaA
• Nanchang Cemented Carbide Co.
• Ltd
• Reade International Corp.
• Sandvik AB
• Umicore
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Tungsten Powder Market

Which Region Dominates the Tungsten Powder Market in 2024?

According to Cognitive Market Research, North America currently dominates the Tungsten Powder market, and the region is expected to have significant growth during the projected period. The growing need from the aerospace, defense, and electronics sectors is propelling the tungsten powder market in North America. Tungsten powder has a chance to produce high-performance components due to the region's focus on innovative manufacturing technologies, specifically 3D printing and additive manufacturing. Growing defense spending in the United States drives up tungsten's use in military products like armor and ammunition. Further encouraging the market's growth is the increasing use of tungsten-based goods in energy-efficient and medical devices. Opportunities also arise from the region's emphasis on environmental practices, which promote tungsten recycling and the development of substitutes to lessen reliance on imported raw materials.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The growing industrial base in the Asia-Pacific region, especially in China, Japan, and South Korea, contributes to the market's rapid expansion for tungsten powder. The market is dominated by China, which is the world's biggest producer and consumer of tungsten due to the high demand from the aerospace, electronics, and automotive sectors. The development of 3D printing technologies and rising defense spending in nations like China and India support demand even more. For instance, the amount of tungsten used in cutting tools and defense equipment has dramatically expanded as a result of China's emphasis on infrastructure development and military modernization. An increased focus on green energy, where tungsten can be used in energy-efficient solutions, additionally supports the region.

The current report Scope analyzes Tungsten Powder Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Tungsten Powder

According to Cognitive Market Research, the global Tungsten Powder market size was estimated at USD 17542.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 7017 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Tungsten Powder market with a market size of USD 5536.41 million in 2024 and is projected to grow at a CAGR of 4.2% during the forecast period. Tungsten powder is used more frequently in US cutting tools and battery components as a result of the need for electric automobiles.
• The Canada Tungsten Powder market had a market share of USD 842.04 million in 2024 and is projected to grow at a CAGR of 5.2% during the forecast period. Canada's thriving mining industry needs tungsten powder to make sturdy drilling instruments.
• The Mexico Tungsten Powder market is projected to witness growth at a CAGR of 4.9% during the forecast period, with a market size of USD 638.55 million in 2024.

Europe Tungsten Powder

According to Cognitive Market Research, the global Tungsten Powder market size was estimated at USD 17542.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 5262.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.

• The United Kingdom Tungsten Powder market had a market share of USD 884.14 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. The UK's aircraft sector drives the demand for high-performance tungsten powder components.
• The France Tungsten Powder market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 484.17 million in 2024.
• According to Cognitive Market Research, the German Tungsten Powder market size was valued at USD 1042.02 million in 2024 and is projected to grow at a CAGR of 4.9% during the forecast period. Tungsten powder is used more frequently in Germany's battery and component production as a result of the country's move toward electric and hybrid automobiles.
• The Italy Tungsten Powder market is projected to witness growth at a CAGR of 4.1% during the forecast period, with a market size of USD 452.60 million in 2024.
• The Russia Tungsten Powder market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 815.73 million in 2024.
• The Spain Tungsten Powder market is projected to witness growth at a CAGR of 3.8% during the forecast period with a market size of USD 431.55 million in 2024
• The Luxembourg Tungsten Powder market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 163.15 million in 2024.
• The Portugal Tungsten Powder market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 110.52 million in 2024.
• The Greece Tungsten Powder market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 63.15 million in 2024.
• The Rest of Europe's Tungsten Powder market is projected to witness growth at a CAGR of 3.4% during the forecast period, with a market size of USD 815.73 million in 2024.

Asia Pacific Tungsten Powder

According to Cognitive Market Research, the global Tungsten Powder market size was estimated at USD 17542.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 4034.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.

• According to Cognitive Market Research, the China Tungsten Powder market size was valued at USD 1815.65 million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period. China commands a large portion of the tungsten powder market due to its wide range of industrial uses.
• The Japan Tungsten Powder market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 556.80 million in 2024.
• The India Tungsten Powder market had a market share of USD 484.17 million in 2024 and is projected to grow at a CAGR of 10.0% during the forecast period. Rising defense expenditures in India are driving up the need for tungsten powder in military applications.
• The South Korean Tungsten Powder market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 403.48 million in 2024.
• The Australian Tungsten Powder market is projected to witness growth at a CAGR of 7.9% during the forecast period, with a market size of USD 209.81 million in 2024.
• The Southeast Asia Tungsten Powder market is projected to witness growth at a CAGR of 9.2% during the forecast period, with a market size of USD 278.40 million in 2024.
• The Rest of Asia Pacific Tungsten Powder market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 286.47 million in 2024.

South America Tungsten Powder

According to Cognitive Market Research, the global Tungsten Powder market size was estimated at USD 17542.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 877.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Tungsten Powder market size was valued at USD 375.41 million in 2024 and is projected to grow at a CAGR of 6.2% during the forecast period. In Brazil, tungsten powder is being used in more and more technologies as a result of the increased focus on diversifying energy sources.
• Argentina's Tungsten Powder market had a market share of USD 147.36 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. Rising investments in renewable energy increase Argentina's use of tungsten powder in energy-efficient applications.
• Colombia's Tungsten Powder market is projected to witness growth at a CAGR of 5.4% during the forecast period, with a market size of USD 78.06 million in 2024.
• Peru's Tungsten Powder market is projected to witness growth at a CAGR of 5.8% during the forecast period, with a market size of USD 71.92 million in 2024.
• Chile's Tungsten Powder market is projected to witness growth at a CAGR of 5.9% during the forecast period, with a market size of USD 63.15 million in 2024.
• The Rest of Latin America's Tungsten Powder market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 141.22 million in 2024.

Middle East and Africa Tungsten Powder

According to Cognitive Market Research, the global Tungsten Powder market size was estimated at USD 17542.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 350.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031..

• The GCC Countries Tungsten Powder market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 150.16 million in 2024. Growth in the energy sector causes the GCC countries to utilize more tungsten powder in their drilling and extraction techniques.
• The Egypt Tungsten Powder market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 36.84 million in 2024.
• The South Africa Tungsten Powder market is projected to witness growth at a CAGR of 6.9% during the forecast period, with a market size of USD 55.43 million in 2024. South Africa needs more sophisticated tungsten powder utilization due to ongoing advancements in mining technology.
• The Turkey Tungsten Powder market is projected to witness growth at a CAGR of 5.4% during the forecast period, with a market size of USD 30.17 million in 2024.
• The Nigeria Tungsten Powder market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 36.84 million in 2024.
• The Rest of the MEA Tungsten Powder market is projected to witness growth at a CAGR of 4.9% during the forecast period, with a market size of USD 41.40 million in 2024.

Tungsten Powder Market Analysis

Tungsten Powder Market Type Segment Analysis

According to Cognitive Market Research, the FW-1 category is likely to dominate the Tungsten Powder Market over the forecast period. The demand for FW-1 type tungsten powder, which is renowned for its high purity and small particle size, is rising across several industries. In applications where accuracy and material quality are essential, such as powder metallurgy, 3D printing, and advanced coatings, it is especially sought after. FW-1 tungsten powder is used in the electronics and aerospace industries to make high-performance components because of its excellent conductivity and temperature resistance. Its qualities for radiation shielding and military-grade equipment also generate demand, as seen in the case of the defense and medical sectors. Global demand for FW-1 tungsten powder is still rising as additive manufacturing gains traction.

The FW-2 category is the fastest-growing segment in the Tungsten Powder Market. In industries where long-lasting and wear-resistant materials are needed, FW-2 type tungsten powder—which has a little coarser particle size than FW-1—is becoming more and more popular. It is commonly utilized in the manufacturing of heavy-duty components, such as cutting tools, mining equipment, and drilling tools, where strength and resilience to harsh environments are crucial. The powder is also used in defense applications for high-density alloys and ammunition that penetrates armor. The need for FW-2 tungsten powder is continuously rising on a global scale due to expanding industrial and infrastructure development, especially in the mining and building industries.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Tungsten Powder Industry. Request a Free Sample PDF!

Tungsten Powder Market Application Segment Analysis

According to Cognitive Market Research, the automotive segment holds the largest share of the market. Because it's used in high-performance components that need to be strong, durable, and heat resistant, the automotive industry is one of the main drivers of tungsten powder demand. Where heat and mechanical stress are important, tungsten powder is utilized in the production of engine parts, turbochargers, and parts for hybrid and electric cars. Additionally, it can be used in cutting tools for the fabrication and machining of automobile components. Tungsten's use of energy-efficient solutions and high-performance materials is increasing, which has pushed up demand for metal in the automotive industry as it moves toward electric and hybrid vehicles.

In the Tungsten Powder Market, the Mining segment has been expanding at a rapid pace. The need for tungsten powder, which is used to make wear-resistant tools and equipment, is primarily driven by the mining sector. Because of its extraordinary toughness and resilience, tungsten is the perfect material for tools used in drilling, cutting, and boring, which must endure challenging circumstances in mining operations. In order to mine heavy ores efficiently, tungsten powder is used to make tungsten carbide-based tools. The requirement for durable, outstanding performance tools in the mining sector is pushing up demand for tungsten powder globally as the world's need for minerals and infrastructure construction increases.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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