Tungsten (wolfram): wire

In 2024, tungsten (wolfram): wire trade exhibited strong growth, with global flows reaching $143,266,841 and a three-year compound annual growth rate of +6.6% (five-year: +2.8%). The all-time peak of $177,951,210 was recorded in 2006; the current level is 19% below that high-water mark.

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 strengthening (+5.6% acceleration).

The supply side is moderately concentrated (Herfindahl-Hirschman Index 0.209). The three largest exporters — China ($59.8M), Japan ($14.4M), and India ($13.9M) — collectively dominate supply flows. The leading exporter has grown at +6.2% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.063). The three largest import markets are United States ($24.4M), India ($12.0M), and Japan ($10.3M). The largest importing market sources from 24 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 $7.5M, representing 72.5% of the importer's total demand.

The volatility score for tungsten (wolfram): wire is 7 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. A moderately concentrated market rewards differentiated positioning and strategic partner selection.

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