China Business Intelligence Network News: Tungsten is a rare metal with high melting point or refractory rare metal in the field of metallurgy and metal materials. Tungsten and its alloys are one of the most important functional materials in modern industrial, national defense and high-tech applications, and are widely used in aerospace, atomic energy, shipbuilding, automobile industry, electrical industry, electronics industry, chemical industry and many other fields.
Global reserves
With the development of the global economy and the acceleration of industrialization, the demand for industrial raw materials such as tungsten has increased, and according to USGS data, the global detected tungsten reserves will reach 4.4 million metal tons in 2023, a year-on-year increase of 15.79%.
Data source: USGS, China Business Industry Research Institute
Supply structure
Recycled tungsten is an important part of the global tungsten supply, and the current global tungsten supply consists of two parts, one is the supply of primary tungsten concentrate, accounting for 76%. The remaining 24% is the secondary resource utilization of tungsten, such as waste cemented carbide, tungsten material, alloy steel, tungsten contact materials and catalysts.
Data source: USGS, China Business Industry Research Institute
For more information, please refer to the "Research Report on Market Prospects and Investment Opportunities of China's Tungsten Industry" released by China Commercial Industry Research Institute, and China Commercial Industry Research Institute also provides industrial big data, industrial intelligence, industry research reports, industry white papers, industry status certificates, feasibility study reports, industrial planning, industrial chain investment map, industrial investment guidelines, industrial chain investment investigation & promotion meeting, "15th Five-Year Plan" and other consulting services.