Australia Tungsten Market Report and Forecast 2024-2032

Australia Tungsten Market Outlook

The Australia tungsten market size is projected to grow at a CAGR of 7.10% between 2024 and 2032.

Key Takeaways

• Australia, based on figures updated by Geoscience Australia, has an 11% share of world tungsten resources.

• As of December 2018, Australia’s Economic Demonstrated Resources (EDR) of tungsten was 394,000 tonnes.

• Western Australia holds 53% of EDR, followed by Tasmania with 26% and Queensland with 18%1.

• Australia’s one operating tungsten mine is Kara in Tasmania, contributing to the overall reserve figures.

The Australia tungsten market growth is primarily driven by factors such as increasing demand for tungsten across diverse industries like automotive, aerospace, electrical and electronics, and machinery. Additionally, technological advancements, export performance, and application versatility contribute to the market's expansion by creating opportunities for growth and innovation within the industry.

Australia has been a significant exporter of tungsten, with notable increases in export volumes over the years. In 2023, Australia exported 1,708 units of tungsten to various countries, with India, Indonesia, and Vietnam being the primary importers. The country's strong export performance plays a crucial role in increasing Australia tungsten market share in the global economy.

Technological innovations and advancements in tungsten processing and applications are enhancing product quality, efficiency, and performance. These advancements play a key role in shaping the future trajectory of the tungsten market in Australia.

Tungsten finds applications across various industries, including automotive, aerospace, electrical and electronics, and machine tools and equipment. Tungsten is used in automotive applications for dyes and coatings, contributing to improved performance and durability in vehicles. In the aerospace industry, tungsten alloys are used in components, such as turbine blades, rocket nozzles, and ballast due to its high strength-to-weight ratio and resistance to high temperatures.

Furthermore, tungsten is essential in electrical and electronic applications for its conductivity and heat resistance properties, used in components like filaments for light bulbs, semiconductors, and X-ray tubes. Tungsten is also utilised in machine tools and equipment for its hardness and wear resistance, enhancing the durability and efficiency of cutting tools.

Market Segmentation  

Australia Tungsten Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Form

• Foils

• Ribbons

• Wires

• Tubes

Market Breakup by Product

• Carbides

• Tungsten Alloys

• Tungsten Mill Products

• Tungsten Chemicals

Market Breakup by End Use

• Automotive

• Aerospace

• Electrical and Electronics

• Machine Tools and Equipment

• Others

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Western Australia

• Australian Capital Territory

• Others

Competitive Landscape

Market players are providing different types of tungsten across industries to stay ahead in the competition.

• EQ Resources Limited   

• Hypersolid Metal Tech Co. Ltd.  

• ATC Group   

• Techgong Australia Pty Ltd.

Key Highlights of the Report