Tungsten (wolfram): unwrought, including bars and rods obtained simply by sintering

In 2024, tungsten (wolfram): unwrought, including bars and rods obtained simply by sintering trade exhibited strong growth, with global flows reaching $109,230,519 and a three-year compound annual growth rate of +7.5% (five-year: +7.8%). The all-time peak of $109,230,519 was recorded in 2024.

Over the 30-year observation window (1995–2024), 62% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is steady (+2.1% acceleration).

The supply side is concentrated (Herfindahl-Hirschman Index 0.356). The three largest exporters — China ($64.3M), United Kingdom ($10.0M), and United States ($9.2M) — collectively dominate supply flows. The leading exporter has grown at +11.3% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.148). The three largest import markets are Japan ($33.6M), Taiwan ($17.7M), and United States ($13.5M). The largest importing market sources from 5 different supplying countries.

Estimated substitution elasticity: -13.37. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is China → Japan at $33.6M, representing 99.9% of the importer's total demand.

The volatility score for tungsten (wolfram): unwrought, including bars and rods obtained simply by sintering is 3 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, strong demand tailwinds create a favourable entry environment. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.