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Tungsten Market to Reach 177 Kilotons by 2031 at 4.65% CAGR, according to a 2026 Mordor Intelligence Report

globenewswire.com
BHP BHP is mentioned as a major company operating in the base metals market, which is related to tungsten. The article does not provide specific sentiment for BHP regarding tungsten. FCX Freeport-McMoRan is listed as a major company in the base metals market. The article does not offer specific sentiment or details about their involvement with tungsten. RIO Rio Tinto is mentioned twice, once as a major company in the base metals market and again for its subsidiary Rio Tinto Metal Powders. The article lacks specific sentiment for Rio Tinto concerning the tungsten market.

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

By Product Form

By End-use Industry

By Geography

Tungsten Companies

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.

Check out related reports published by Mordor Intelligence

Base Metals Market Size: The report is segmented by metal type, end-use industry, source, and geography, including Asia-Pacific, North America, Europe, South America, and the Middle East and Africa.

BHP, Freeport-McMoRan, Glencore PLC, Jiangxi Copper Corporation, and Rio Tinto are major companies operating in the market: https://www.mordorintelligence.com/industry-reports/base-metals-market/companies?utm_source=globenewswire

Metal Powder Market Share: The report is segmented by type, production process, manufacturing method, end-use industry, and region, covering Asia-Pacific, North America, Europe, South America, and the Middle East and Africa. Market forecasts are presented in value terms (USD).

Sandvik AB, Rio Tinto Metal Powders, Höganäs AB, GKN Powder Metallurgy, CRS Holdings, LLC are major companies operating in the market: https://www.mordorintelligence.com/industry-reports/metal-powder-market/companies?utm_source=globenewswire

About Mordor Intelligence:

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