The Global Refined Tungsten Market was valued at US$ 6.45 Billion in 2024 and is projected to reach US$ 8.92 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period (2024–2030). This growth is being driven by rising demand from aerospace, defense, electronics, and renewable energy sectors, along with accelerating adoption of high-performance tungsten alloys and recycling technologies across industrial applications.

As the advanced materials industry evolves toward high-performance and sustainable solutions, the focus shifts to key tungsten producers driving innovation, quality control, and strategic metal supply chains. In this blog, we profile the Top 10 Companies in the Refined Tungsten Industry—a mix of mining giants, processors, and recycling innovators shaping the future of critical materials.

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🔟 1. Xiamen Tungsten

Headquarters: Xiamen, Fujian, China
Key Offering: APT (Ammonium Paratungstate), tungsten powder, tungsten alloys

Xiamen Tungsten is one of the world’s leading integrated tungsten producers, controlling the entire value chain from mining to processing. The company serves global markets with high-purity tungsten products for cemented carbides, superalloys, and electronic applications.

Sustainability Initiatives:

• Development of recycling technologies for tungsten scrap

• Energy-efficient production processes and waste reduction

• Investment in rare earth and new energy materials

Download FREE Sample Report: Refined Tungsten Market – View in Detailed Research Report

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9️⃣ 2. China Tungsten and Hightech

Headquarters: Ganzhou, Jiangxi, China
Key Offering: Tungsten concentrate, APT, tungsten powder, and alloys

China Tungsten and Hightech operates one of China’s largest tungsten mining and processing networks, supplying over 25% of the domestic market. The company specializes in high-performance tungsten products for cutting tools and wear-resistant applications.

Sustainability Initiatives:

• Implementing cleaner production standards in mining operations

• R&D focus on tungsten carbide and hardmetal innovations

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8️⃣ 3. RISING NONFERROUS METALS

Headquarters: Ganzhou, Jiangxi, China
Key Offering: Tungsten trioxide, ammonium metatungstate, tungsten mill products

RISING NONFERROUS METALS maintains significant mining assets and advanced processing capabilities, positioning it as a key supplier to both domestic Chinese and international markets.

Sustainability Initiatives:

• Vertical integration reducing environmental footprint

• Quality control systems meeting international standards

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7️⃣ 4. Henan Glod

Headquarters: Zhengzhou, Henan, China
Key Offering: Tungsten powder, tungsten carbide powder, tungsten rods

Henan Glod specializes in deep processing of tungsten, producing high-value tungsten chemicals and powder products for various industrial applications.

Sustainability Initiatives:

• Energy-efficient furnace technology in tungsten processing

• Development of tungsten-based materials for green technologies

Download FREE Sample Report: Refined Tungsten Market – View in Detailed Research Report

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6️⃣ 5. Kennametal

Headquarters: Pittsburgh, Pennsylvania, USA
Key Offering: Tungsten carbide tools, wear parts, hardfacing alloys

Kennametal is a global leader in tungsten-based hardmetals, serving manufacturing, mining, and construction industries with high-performance cutting and wear solutions.

Sustainability Initiatives:

• Advanced tungsten carbide recycling program recovering over 90% material

• Development of more sustainable tungsten carbide grades with improved performance

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5️⃣ 6. Sandvik

Headquarters: Sandviken, Sweden
Key Offering: Cemented carbide products, tungsten wire, heavy alloys

Sandvik’s materials technology division produces advanced tungsten materials for demanding applications in aerospace, energy, and industrial sectors.

Sustainability Initiatives:

• Life cycle assessment for tungsten carbide products

• Partnerships with customers to optimize material usage and reduce waste

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4️⃣ 7. Japan New Metals

Headquarters: Osaka, Japan
Key Offering: Tungsten powder, tungsten heavy alloy, tungsten composite materials

Japan New Metals specializes in high-purity tungsten products, particularly for semiconductor and electronics manufacturing applications demanding extreme material purity.

Sustainability Initiatives:

• Advanced quality control systems ensuring material consistency

• Development of tungsten materials for next-generation electronics

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3️⃣ 8. ALMT Corp

Headquarters: Tokyo, Japan
Key Offering: Tungsten mill products, tungsten chemicals, tungsten-based specialty materials

ALMT Corp focuses on high-value tungsten products for specialized applications, maintaining strong positions in both Japanese domestic and Asian export markets.

Sustainability Initiatives:

• Development of cobalt-free tungsten carbide alternatives

• Energy-efficient powder metallurgy processes

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2️⃣ 9. Plansee Group

Headquarters: Reutte, Austria
Key Offering: Tungsten heavy alloy, tungsten composites, molybdenum-tungsten materials

Plansee Group manufactures high-performance tungsten and molybdenum products for extreme environments in aerospace, medical, and industrial heating applications.

Sustainability Initiatives:

• Recycling programs for tungsten scrap and end-of-life products

• Development of tungsten materials for fusion reactor applications

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1️⃣ 10. Buffalo Tungsten

Headquarters: Buffalo, New York, USA
Key Offering: Tungsten powder, tungsten carbide powder, tungsten heavy alloy

Buffalo Tungsten specializes in fine tungsten and tungsten carbide powders, serving global markets with specialized materials for aerospace, defense, and energy sectors.

Sustainability Initiatives:

• Implementation of energy-efficient powder production technologies

• Quality management systems ensuring material traceability and performance

Get Full Report Here: Refined Tungsten Market – View in Detailed Research Report

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🌍 Outlook: The Future of Refined Tungsten Is High-Performance and Sustainable

The refined tungsten market is undergoing a significant transformation. While traditional tungsten products continue to serve core industries, the sector is investing heavily in advanced alloys, recycling technologies, and next-generation materials for emerging applications.

📈 Key Trends Shaping the Market:

• Rising demand for tungsten carbide in cutting tools and wear parts

• Strategic importance of tungsten in defense and aerospace applications

• Increasing tungsten recycling rates to reduce primary mining dependence

• Development of tungsten-based materials for green energy technologies

Get Full Report Here: Refined Tungsten Market – View in Detailed Research Report

The companies listed above are not only powering advanced manufacturing—they’re driving the innovation in critical materials for tomorrow’s technologies.