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市場調查報告書

鎢:到2029年的展望 (第14版)

Tungsten: Outlook to 2029, 14th Edition

出版商 Roskill Information Services 商品編碼 930108
出版日期 內容資訊 英文
商品交期: 最快1-2個工作天內
價格
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鎢:到2029年的展望 (第14版) Tungsten: Outlook to 2029, 14th Edition
出版日期: 2020年04月17日內容資訊: 英文
簡介

全球鎢市場,包含消費鎢的3分之一的汽車生產的持續性低迷的可能性,預計面臨幾個逆風。加上美國與中國間持續的貿易糾紛,市場心理依然受抑制。2019年5月,美國的川普總統,對來自中國相當2,000億美元的進口商品適用25%的關稅率,給予包含鎢鐵和含鎢工具的許多化學品,金屬及最終產品影響。

本報告提供全球鎢市場相關調查分析,展現全球生產、消費趨勢,國際貿易,及價格等,消費的展望,並提供主要企業簡介等資訊。

第1章 摘要整理

第2章 鎢的流程圖

第3章 全球生產

第4章 全球消費

第5章 鎢的國際貿易

第6章 價格

第7章 展望

第8章 背景

第9章 國家簡介

第10章 鎢的消費:各首次使用、最終用途

第11章 企業簡介

目錄

China has for several decades been the world's largest mine and refined producer of tungsten, accounting for just over 80% of mine output in 2019, according to Roskill analysis, or some 61kt of contained tungsten metal. It is similarly dominant in the production of the tungsten intermediates ammonium paratungstate (APT) and tungsten oxide, and of tungsten metal powder and tungsten carbide. A large proportion of this output feeds the country's substantial cemented carbide tool sector, but there is also sizeable export of tungsten refined and finished products to the rest of the world--making Chinese mine and refined production of tungsten integral to conditions in the global market.

Upstream and refined tungsten supplies were thus substantially interrupted in 2017 and 2018, when the Chinese government launched a widespread programme of environmental reforms, focused across a swathe of Chinese industries and notably at tungsten mine and smelter sites. There was an immediate effect on tungsten availability, with APT prices buoyed to several-year highs; in September 2017 the European APT price peaked above US$300/mtu, having only recovered to US$200/mtu at the start of the year.

The turnaround in tungsten market fortunes continued into the first half of 2018 as environmental clampdowns in China continued. Year-on-year demand for tungsten also rose by nearly 5%, contributing to tightness in supply. APT prices peaked at US$350/mtu in June 2018, before declining steadily throughout the second half of the year as most large-scale tungsten mines and APT smelters returned to the market.

A second factor behind falling APT prices was falling output from the Chinese automotive sector, which emerged in the second half of 2018 and continued into 2019. Chinese car production is estimated to have fallen 9% y-o-y between 2018 and 2019, with output in 2019 dropping to 19.6M vehicles; the first time in three years the level has dipped under 20M. Car production is an important end-use sector for tungsten-containing tools, in addition to electrical contacts.

The other major Chinese influence on tungsten market fortunes in recent years--large stocks of APT resulting from the defunct Fanya Metals Exchange--saw a partial resolution towards late 2019 as the inventories were successfully auctioned off by the Kunming Intermediate People's Court in September. The stocks, equivalent to 30% of China's APT production in 2018, had contributed to poorer market sentiment in the second half of 2019, also weighed down by continued weakness in several tungsten end use markets but principally automotive and mobile phone sectors.

The winning bid by China Molybdenum was not anticipated by the market and with the unit price achieved in excess of the court guidance, sentiment improved and immediately spurred a jump in the European APT quotation to US$240/mtu in October 2019. Prices remained at this level through to January 2020 and may remain at higher levels after the Chinese Spring Festival when companies return to the market.

Looking ahead, the tungsten market faces several headwinds, including a potential sustained downturn in car production, which ultimately consumes about a third of all tungsten units. In addition, market sentiment remains subdued by the ongoing trade dispute between the USA and China. In May 2019, US President Donald Trump pushed ahead with a 25% tariff rate applied to US$200Bn of Chinese exports, effective 10 May 2019, affecting a host of chemical, metal and finished products, including ferrotungsten and tungsten containing tools. A resolution to trade discussions would be a major boost for tungsten markets.

There remain bright spots for the industry, however, with aerospace and electronics markets (users of tungsten alloys and mill products, respectively) set to continue growing strongly. In addition, there are opportunities further up the supply chain for new mine projects to come online. Several large mines in China and Russia are reaching their end of life and will need to be replaced for the market to remain adequately supplied. Almonty's Los Santos mine in Spain also ceased mining in mid-2019 and will move to tailings reprocessing, which is expected to reduce volumes from this operation.

Roskill experts will answer your questions:

  • What are the likely supply developments across existing operations?
  • Which projects are in the pipeline?
  • How will Chinese environmental policies affect the country's tungsten sector?
  • How is demand from the automotive and electric vehicle industry likely to develop and how will this affect the tungsten industry?
  • How is demand across steel and alloys, mill products and chemicals industries likely to develop in the next decade?
  • What is the outlook for the market balance and prices?

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  • Option to download tables and graphs from the report

Table of Contents

1. Executive summary

  • 1.1. Supply
  • 1.2. Demand
  • 1.3. Market balance
  • 1.4. Trade
  • 1.5. Prices
  • 1.6. Costs
  • 1.7. Outlook
  • 1.8. Impact of the COVID-19 coronavirus outbreak

2. Tungsten flowchart

3. World production

  • 3.1. Mine production
    • 3.1.1. Mine capacity
  • 3.2. Secondary production
    • 3.2.1. Scrap processors
  • 3.3. Refined production
    • 3.3.1. APT
    • 3.3.2. Oxides
    • 3.3.3. Metal
    • 3.3.4. Carbide
    • 3.3.5. Ferrotungsten
  • 3.4. Production costs
  • 3.4.1. Trends in production costs
  • 3.5. Sustainability
    • 3.5.1. Environmental, Social and Governance (ESG)
      • 3.5.1.1. Environmental
      • 3.5.1.2. Resource consumption
      • 3.5.1.3. Social
      • 3.5.1.4. Governance
    • 3.5.2. Critical raw materials
    • 3.5.3. Initiatives
    • 3.5.3.1. Global Reporting Initiative
    • 3.5.3.2. Responsible Minerals Assurance Process (RMAP)
    • 3.5.3.3. Organisation for Economic Cooperation and Development (OECD)
    • 3.5.3.4. Dodd-Frank Act on Conflict Minerals
    • 3.5.3.5. International Tin Supply Chain Initiative (ITSCi)
    • 3.5.3.6. China Chamber of Commerce of Metals, Minerals & Chemicals Importers and Exporters (CCCMC)
    • 3.5.3.7. European Union Conflict Minerals Regulation
    • 3.5.3.8. Initiative for Responsible Mining Assurance
    • 3.5.3.9. Responsible Mining Index
    • 3.5.3.10. Responsible Sourcing Blockchain Network (RSBN)

4. World consumption

  • 4.1. Consumption by first-use
  • 4.2. Consumption by end-use
  • 4.3. Consumption by region
    • 4.3.1. China
    • 4.3.2. Europe
    • 4.3.3. USA
    • 4.3.4. Japan
    • 4.3.5. Others
  • 4.4. Apparent consumption
  • 4.5. Substitution
  • 4.6. Tungsten inventories

5. International trade

  • 5.1. Tungsten ores and concentrates
  • 5.2. Tungstates
  • 5.3. Tungsten oxides and hydroxide
    • 5.3.1. Tungsten trioxide
  • 5.4. Tungsten metal
  • 5.5. Tungsten carbides
  • 5.6. Tungsten waste and scrap
  • 5.7. Ferrotungsten
  • 5.8. Mixed powders
  • 5.9. US/China trade dispute

6. Prices

  • 6.1. Ammonium paratungstate (APT)
  • 6.2. Tungsten concentrates
  • 6.3. Ferrotungsten

7. Outlook

  • 7.1. Outlook for demand
    • 7.1.1. Outlook for demand by region
  • 7.2. Outlook for supply
    • 7.2.1. Outlook for existing mine producers
    • 7.2.2. Outlook for secondary tungsten
    • 7.2.3. Outlook for new mine projects
    • 7.2.4. Supply outlook summary
  • 7.3. Outlook for the supply and demand balance
  • 7.4. Outlook for prices

8. Background

  • 8.1. Tungsten resources and reserves
    • 8.1.1. Tungsten occurrences
    • 8.1.2. Tungsten resources
  • 8.2. Tungsten mining, processing and products
    • 8.2.1. Tungsten ores and concentrates
    • 8.2.2. Ammonium paratungstate
    • 8.2.3. Tungsten oxides and trioxide
    • 8.2.4. Tungstic acid
    • 8.2.5. Tungsten metal powder
    • 8.2.6. Tungsten carbide powder
    • 8.2.7. Ferrotungsten
    • 8.2.8. Tungsten melting base
    • 8.2.9. Other tungsten chemicals
  • 8.3. Secondary tungsten processing methods

9. Country profiles

  • 9.1. Australia
    • 9.1.1. Tungsten projects
  • 9.2. Austria
    • 9.2.1. Tungsten operations and projects
  • 9.3. Belgium
  • 9.4. Bolivia
  • 9.5. Brazil
  • 9.6. Bulgaria
  • 9.7. Canada
    • 9.7.1. Tungsten operations and projects
  • 9.8. China
    • 9.8.1. Chinese tungsten production, trade and apparent consumption
    • 9.8.2. Government policies
      • 9.8.2.1. Trade policies
      • 9.8.2.2. Environmental policies
      • 9.8.2.3. Tungsten mine production quotas
      • 9.8.2.4. Fanya stockpiles
    • 9.8.3. Tungsten mineral resources and reserves
    • 9.8.4. Tungsten operations and projects
      • 9.8.4.1. Tungsten concentrates
      • 9.8.4.2. Ammonium paratungstate
      • 9.8.4.3. Tungsten oxides
      • 9.8.4.4. Tungsten metal
      • 9.8.4.5. Tungsten carbide
      • 9.8.4.6. Ferrotungsten
      • 9.8.4.7. Other tungsten chemicals
      • 9.8.4.8. Scrap recyclers
      • 9.8.4.9. Manufacturers of finished tungsten products
  • 9.9. Czech Republic
  • 9.10. Finland
  • 9.11. France
    • 9.11.1. Tungsten operations and projects
  • 9.12. Germany
    • 9.12.1. Tungsten operations and projects
  • 9.13. India
    • 9.13.1. Tungsten operations and projects
  • 9.14. Indonesia
  • 9.15. Israel
  • 9.16. Italy
  • 9.17. Japan
    • 9.17.1. Tungsten operations and projects
  • 9.18. Kazakhstan
  • 9.19. North Korea
  • 9.20. South Korea
    • 9.20.1. Tungsten operations and projects
  • 9.21. Kyrgyzstan
  • 9.22. Luxembourg
  • 9.23. Malaysia
  • 9.24. Mexico
  • 9.25. Mongolia
  • 9.26. Myanmar
  • 9.27. Netherlands
  • 9.28. Nigeria
  • 9.29. Peru
  • 9.30. Philippines
  • 9.31. Portugal
    • 9.31.1. Tungsten operations and projects
  • 9.32. Romania
  • 9.33. Russia
    • 9.33.1. Russian tungsten production, trade and apparent consumption
    • 9.33.2. Tungsten operations and projects
  • 9.34. Rwanda
  • 9.35. Singapore
  • 9.36. South Africa
  • 9.37. Spain
    • 9.37.1. Tungsten operations and projects
  • 9.38. Sweden
  • 9.39. Switzerland
  • 9.40. Taiwan
  • 9.41. Thailand
  • 9.42. Uganda
  • 9.43. UK
    • 9.43.1. Tungsten operations and projects
  • 9.44. USA
    • 9.44.1. Defense National Stockpile
    • 9.44.2. Tungsten operations and projects
  • 9.45. Uzbekistan
  • 9.46. Vietnam
    • 9.46.1. Tungsten operations and projects
  • 9.47. Zimbabwe

10. End uses

  • 10.1. Use of tungsten in cemented carbides
    • 10.1.1. Manufacture of cemented carbides
      • 10.1.1.1. Powder metallurgy processes
      • 10.1.1.2. Additive manufacturing
      • 10.1.1.3. Cemented carbide materials
      • 10.1.1.4. Trends in cemented carbides
    • 10.1.2. Production of cemented carbides
      • 10.1.2.1. Chinese cemented carbide trends
      • 10.1.2.2. European cemented carbide trends
      • 10.1.2.3. US cemented carbide trends
      • 10.1.2.4. Japanese cemented carbide trends
    • 10.1.3. Consumption of cemented carbides
      • 10.1.3.1. Consumption of tungsten in cemented carbides
      • 10.1.3.2. Other uses of cemented carbides
      • 10.1.3.3. Outlook for cemented carbides
  • 10.2. Use of tungsten in steels and alloys
    • 10.2.1. Tungsten in tool steels and high-speed steels
      • 10.2.1.1. High-speed steels
      • 10.2.1.2. Hot-work tool steels
      • 10.2.1.3. Cold-work tool steels
      • 10.2.1.4. Plastic mould tool steels
      • 10.2.1.5. Forecast production of tool steels
    • 10.2.2. Tungsten in nickel-base alloys
      • 10.2.2.1. HPA and superalloys
      • 10.2.2.2. Production of HPA
      • 10.2.2.3. Production of superalloys
      • 10.2.2.4. Consumption and outlook of HPA and superalloys
    • 10.2.3. Other alloys
      • 10.2.3.1. Tungsten heavy alloys
      • 10.2.3.2. Welding and hard-facing alloys
      • 10.2.3.3. Refractory alloys
      • 10.2.3.4. Diamond tools
      • 10.2.3.5. Other metallurgical uses for tungsten
      • 10.2.3.6. Outlook for other alloys
    • 10.2.4. Outlook for tungsten in steels and alloys
  • 10.3. Use of tungsten in mill products
    • 10.3.1. Use of tungsten in lamps
      • 10.3.1.1. Incandescent lamps
      • 10.3.1.2. Electrical discharge lamps
      • 10.3.1.3. Production of lamps
      • 10.3.1.4. Consumption of lamps
      • 10.3.1.5. Outlook for tungsten in lamps
    • 10.3.2. Use of tungsten in other mill products
      • 10.3.2.1. Circuitry
      • 10.3.2.2. Tungsten wires, filaments and electron emitters
      • 10.3.2.3. Welding
      • 10.3.2.4. Sputtering targets
      • 10.3.2.5. LED manufacturing equipment
      • 10.3.2.6. Outlook for tungsten in other mill products
    • 10.3.3. Outlook for tungsten in mill products
  • 10.4. Use of tungsten in chemicals and other applications
    • 10.4.1. Types of tungsten chemicals
    • 10.4.2. Catalysts
    • 10.4.3. Semiconductor circuits and circuit boards
    • 10.4.4. Glazes, pigments and dyes
    • 10.4.5. Lubricants
    • 10.4.6. Laboratory applications
    • 10.4.7. Outlook for tungsten in chemicals and other applications

11. Company profiles

  • 11.1. Almonty Industries
  • 11.2. Asia Tungsten Products Vietnam
  • 11.3. Buffalo Tungsten
  • 11.4. China Minmetals
    • 11.4.1. China Tungsten and Hightech Materials
      • 11.4.1.1. Nanchang Cemented Carbide
      • 11.4.1.2. Zhuzhou Cemented Carbide
      • 11.4.1.3. Zigong Cemented Carbide
    • 11.4.2. Jiangxi Tungsten Holding Group (JXTC)
      • 11.4.2.1. Jiangxi Rare Metals Tungsten Industry Holding Group
      • 11.4.2.2. Jiangxi Tungsten Industry Group
    • 11.4.3. Xiamen Tungsten
      • 11.4.3.1. Xiamen Golden Egret Special Alloy
      • 11.4.3.2. Jiujiang Golden Egret Hard Material
      • 11.4.3.3. Fujian Jinxin Tungsten
  • 11.5. China Molybdenum
  • 11.6. Chongyi Zhangyuan Tungsten
  • 11.7. Ganzhou Grand Sea W & Mo Group
  • 11.8. Guangdong Rising Nonferrous Metals Group
  • 11.9. Guangdong Xianglu Tungsten
  • 11.10. H.C. Starck Group
  • 11.11. Hunan Chenzhou Mining Group
  • 11.12. International Metalworking Companies (IMC)
  • 11.13. Jiangxi Yaosheng Tungsten
  • 11.14. King Island Scheelite
  • 11.15. Kennametal
  • 11.16. Kirovgrad Hard Alloys Plant
  • 11.17. Mitsubishi Materials Corp.
    • 11.17.1. Japan New Metals
  • 11.18. Moliren
  • 11.19. Northcliff Resources
  • 11.20. Novoorlovsky GOK
  • 11.21. Nui Phao Mining Company
  • 11.22. Plansee Group
    • 11.22.1. Plansee High Performance Materials
    • 11.22.2. Ceratizit
    • 11.22.3. Global Tungsten & Powders
  • 11.23. Primorsky GOK
  • 11.24. Saloro
  • 11.25. Sandvik
    • 11.25.1. Wolfram Bergbau und Huetten
  • 11.26. Speciality Metals International
  • 11.27. Sumitomo Electric Industries
  • 11.28. Teijing Tungsten
  • 11.29. Thor Mining
  • 11.30. Treibacher Industrie
  • 11.31. W Resources
  • 11.32. Wolfram Group (Hong Kong)
  • 11.33. Wolfram JSC
    • 11.33.1. Unecha Refractory Metals Plant
    • 11.33.2. Hydrometallurg
    • 11.33.3. Wolfko
    • 11.33.4. Primorwolfram
    • 11.33.5. Kavkazwolfram
  • 11.34. Umicore Specialty Powders France
  • 11.35. Zijin Mining Group

12. Macro economic outlook

List of Tables

  • Table 1: World: Supply of tungsten, 2011-2019
  • Table 2: Consumption of tungsten by first-uses, 2011-2019
  • Table 3: World: Producer shipments of tungsten products, 2011-2019
  • Table 4: Roskill outlook for APT prices to 2029, low, base and high-case scenarios
  • Table 5: World: Production of tungsten concentrates by country, 2011-2019
  • Table 6: Top ten mine producers of tungsten, 2019
  • Table 7: Tungsten concentrate production capacity by operation, 2020
  • Table 8: World: Supply of secondary tungsten, 2011-2019
  • Table 9: World: Tungsten scrap processing capacity by operation, 2020
  • Table 10: World: APT production capacity by operation, 2020
  • Table 11: World: Tungsten oxides production capacity by operation, 2020
  • Table 12: World: Tungsten metal production capacity by operation, 2020
  • Table 13: World: Tungsten carbide production capacity by operation, 2020
  • Table 14: World: Ferrotungsten production capacity by operation, 2020
  • Table 15: Tungsten mine production vs Human Freedom Index
  • Table 16: Tungsten mine production vs Transparency International's Corruption Perceptions Index
  • Table 17: Tungsten mine production vs World Bank's Ease of Doing Business Index
  • Table 18: Critical raw materials identified by key government bodies
  • Table 19: Responsible sourcing initiatives and policies, 2020
  • Table 20: OECD Due Diligence Guidance for minerals - 5-Step Framework for Upstream and Downstream Supply Chains
  • Table 21: World: Consumption of tungsten by region and first-uses, 2019
  • Table 22: Consumption of tungsten by first-uses, 2011-2019
  • Table 23: China: Consumption of tungsten by market, 2011-2019
  • Table 24: Europe: Consumption of tungsten by market, 2011-2019
  • Table 25: USA: Consumption of tungsten by market, 2011-2019
  • Table 26: Japan: Consumption of tungsten by market, 2011-2019
  • Table 27: Rest of world: Consumption of tungsten by market, 2011-2019
  • Table 28: World: Producer shipments of tungsten products, 2011-2019
  • Table 29: World: Exports of tungsten concentrate, 2011-2019
  • Table 30: World: Imports of tungsten concentrates, 2011-2019
  • Table 31: World: Exports of tungstates, 2011-2019
  • Table 32: Imports of tungstates, 2011-2019
  • Table 33: Exports of tungsten oxide and hydroxide, 2011-2019
  • Table 34: Imports of tungsten oxide and hydroxide, 2011-2019
  • Table 35: Exports of tungsten trioxide, 2011-2019
  • Table 36: Imports of tungsten trioxide, 2011-2019
  • Table 37: Exports of tungsten metal, 2011-2019
  • Table 38: Imports of tungsten metal, 2011-2019
  • Table 39: Exports of tungsten carbide, 2011-2019
  • Table 40: Imports of tungsten carbide, 2011-2019
  • Table 41: Exports of tungsten waste and scrap, 2011-2019
  • Table 42: Imports of tungsten waste and scrap, 2011-2019
  • Table 43: Exports of ferrotungsten, 2011-2019
  • Table 44: Imports of ferrotungsten, 2011-2019
  • Table 45: Exports of mixed powders, 2011-2019
  • Table 46: Imports of mixed powders, 2011-2019
  • Table 47: European APT prices, monthly average, 2011-2019
  • Table 48: Chinese tungsten concentrate prices, monthly average, 2011-2019
  • Table 49: Ferrotungsten prices, monthly average, 2011-2019
  • Table 50: World: Outlook for tungsten demand by market, 2019-2029
  • Table 51: Outlook for tungsten demand by main consumers, 2019-2029
  • Table 52: World: Forecast mine production and nameplate capacity from existing producers, 2019, 2024 and 2029
  • Table 53: Outlook for secondary tungsten supply, 2019-2029
  • Table 54: Outlook for advanced tungsten mine projects, 2020-2029
  • Table 55: Roskill's tungsten supply forecast to 2029, by feedstock source
  • Table 56: Tungsten supply and demand balance, 2019, 2024 and 2029
  • Table 57: Roskill outlook for APT prices to 2029, low, base and high-case scenarios
  • Table 58: European APT price outlook, nominal and real basis, 2020-2029
  • Table 59: Physical properties of tungsten
  • Table 60: Commercially exploited tungsten minerals
  • Table 61: World: Tungsten resources by main sources, 2019
  • Table 62: Australia: Summary statistics, 2011-2019
  • Table 63: Australia: Summary of tungsten operations, 2020
  • Table 64: Australia: Tungsten mine projects under development, 2020
  • Table 65: Australia: Measured and indicated resources of tungsten projects, 2020
  • Table 66: Austria: Summary statistics, 2011-2019
  • Table 67: Austria: Summary of tungsten operations, 2020
  • Table 68: Belgium: Summary statistics, 2011-2019
  • Table 69: Bolivia: Summary statistics, 2011-2019
  • Table 70: Brazil: Summary statistics, 2011-2019
  • Table 71: Brazil: Summary of tungsten operations, 2020
  • Table 72: Canada: Summary statistics, 2011-2019
  • Table 73: Canada: Summary of tungsten operations, 2020
  • Table 74: Canada: Tungsten mine projects under development, 2020
  • Table 75: Canada: Measured and indicated resources of tungsten projects, 2020
  • Table 76: China: Summary statistics, 2011-2019
  • Table 77: China: Companies approved for tungsten product exports, 2020
  • Table 78: China: Tungsten production quota by province, 2019
  • Table 79: China: Main tungsten producers by province, 2019
  • Table 80: China: Producers of tungsten concentrates, 2020
  • Table 81: China: Producers of ammonium paratungstate (APT), 2020
  • Table 82: China: Producers of tungsten oxides, 2020
  • Table 83: China: Producers of tungsten metal, 2020
  • Table 84: China: Producers of tungsten carbide, 2020
  • Table 85: China: Producers of ferrotungsten, 2020
  • Table 86: China: Producers of tungsten chemicals by type, 2020
  • Table 87: China: Recyclers of tungsten scrap, 2020
  • Table 88: Czech Republic: Summary statistics, 2011-2019
  • Table 89: Czech Republic: Summary of tungsten operations, 2020
  • Table 90: Finland: Summary statistics, 2011-2019
  • Table 91: Finland: Summary of tungsten operations, 2020
  • Table 92: France: Summary statistics, 2011-2019
  • Table 93: France: Summary of tungsten operations, 2020
  • Table 94: Germany: Summary statistics, 2011-2019
  • Table 95: Germany: Sales of indexable inserts for tools, 2011-2018
  • Table 96: Germany: Summary of tungsten operations, 2020
  • Table 97: India: Summary statistics, 2011-2019
  • Table 98: India: Summary of tungsten operations, 2019
  • Table 99: Italy: Summary statistics, 2011-2019
  • Table 100: Italy: Sales of indexable inserts for tools, 2011-2018
  • Table 101: Italy: Summary of tungsten operations, 2020
  • Table 102: Japan: Summary statistics, 2011-2019
  • Table 103: Japan: Trade in tungsten-based tools, 2012-2019
  • Table 104: Japan: Summary of tungsten operations, 2020
  • Table 105: Kazakhstan: Tungsten projects under development, 2020
  • Table 106: North Korea: Summary statistics, 2011-2019
  • Table 107: South Korea: Summary statistics, 2011-2019
  • Table 108: South Korea: Summary of tungsten operations, 2020
  • Table 109: South Korea: Tungsten mine projects under development, 2020
  • Table 110: Kyrgyzstan: Summary statistics, 2011-2019
  • Table 111: Mexico: Summary statistics, 2011-2019
  • Table 112: Mexico: Tungsten mine projects under development, 2020
  • Table 113: Mongolia: Summary statistics, 2011-2019
  • Table 114: Mongolia: Summary of tungsten operations, 2020
  • Table 115: Mongolia: Tungsten mine projects under development, 2020
  • Table 116: Myanmar: Summary statistics, 2011-2019
  • Table 117: Nigeria: Summary statistics, 2011-2019
  • Table 118: Peru: Summary statistics, 2011-2019
  • Table 119: Philippines: Summary statistics, 2011-2019
  • Table 120: Portugal: Summary statistics, 2011-2019
  • Table 121: Portugal: Tungsten mine projects under development, 2020
  • Table 122: Portugal: Measured and indicated resources of tungsten projects, 2020
  • Table 123: Russia: Summary statistics, 2011-2019
  • Table 124: Russia: Summary of tungsten operations, 2020
  • Table 125: Russia: Tungsten mine projects under development, 2020
  • Table 126: Rwanda: Summary statistics, 2011-2019
  • Table 127: Rwanda: Producers of tungsten concentrates, 2020
  • Table 128: Spain: Summary statistics, 2011-2019
  • Table 129: Spain: Producers of tungsten concentrates, 2020
  • Table 130: Spain: Tungsten mine projects under development, 2020
  • Table 131: Spain: Measured and indicated resources of tungsten projects, 2020
  • Table 132: Sweden: Summary statistics, 2011-2019
  • Table 133: Taiwan: Summary statistics, 2011-2019
  • Table 134: Thailand: Summary statistics, 2011-2019
  • Table 135: Uganda: Summary statistics, 2011-2019
  • Table 136: UK: Summary statistics, 2011-2019
  • Table 137: UK: Summary of tungsten operations, 2020
  • Table 138: USA: Summary statistics, 2011-2019
  • Table 139: USA: National Defense Stockpile: Stocks and sales of tungsten materials, 2011-2019
  • Table 140: USA: Summary of tungsten operations, 2020
  • Table 141: USA: Tungsten mine projects under development1, 2020
  • Table 142: Uzbekistan: Summary statistics, 2011-2019
  • Table 143: Uzbekistan: Tungsten mine projects under development, 2020
  • Table 144: Vietnam: Summary statistics, 2011-2019
  • Table 145: Vietnam: Summary of tungsten operations, 2020
  • Table 146: Zimbabwe: Summary statistics, 2011-2019
  • Table 147: Additive manufacturing technology comparisons for tungsten materials
  • Table 148: Basic data for different WC-Co and WC-(W, Ti, Ta, Nb) C-Co hardmetal grades
  • Table 149: Grades of hardmetal by ISO, US and BHMA classification
  • Table 150: World: Output of cemented carbides by main producers, 2011-2019
  • Table 151: World: Consumption of tungsten in cemented carbides, 2011-2019
  • Table 152: Japan: Production of ultra-hard metals by end-use, 2011-2019
  • Table 153: World: Use of tungsten in cemented carbides by main source, 2011-2019
  • Table 154: Forecast use of tungsten in cemented carbides by main source, 2020-2029
  • Table 155: Composition1 of high-speed steels containing tungsten
  • Table 156: World: Major producers of tool steels and high-speed steel, 2019
  • Table 157: Composition of hot-work tool steels
  • Table 158: Composition of cold-work tool steels
  • Table 159: Outlook for tool steel production and tungsten use, 2020-2029
  • Table 160: Elements and their function in HPA
  • Table 161: World leading producers of superalloys, 2020
  • Table 162: Outlook for tungsten demand in nickel-base alloys, 2019-2029
  • Table 163: Comparison of properties of unworked W-Ni-Fe and W-Ni-Co alloys
  • Table 164: Typical classifications of hard-facing materials
  • Table 165: Tungsten-containing niobium and tantalum alloys
  • Table 166: World: Outlook for tungsten demand in steel and alloys, 2020-2029
  • Table 167: Outlook for tungsten in steel and alloys, by region/country, 2020-2029
  • Table 168: USA: Installed stock and market penetration rate of LEDs in lighting applications
  • Table 169: World: Forecast demand for tungsten in lamps, 2020-2029
  • Table 170: Electrodes of tungsten used in TIG welding
  • Table 171: Applications that utilise tungsten sputtering targets in their production
  • Table 172: Uses of tungsten in the LED market
  • Table 173: Forecast demand for tungsten in mill products, 2020-2029
  • Table 174: Producers of tungsten hexafluoride
  • Table 175: Outlook for tungsten demand in chemicals and other applications, 2020-2029
  • Table 176: Almonty Industries: Tungsten mine operations and projects
  • Table 177: Almonty Industries: Production of tungsten concentrates by operation, 2012-2019
  • Table 178: Xiamen Tungsten: Tungsten output by product, 2015-2019
  • Table 179: China Molybdenum: Production of tungsten concentrates, 2012-2019
  • Table 180: Guangdong Rising Nonferrous: Production of tungsten concentrates, 2014-2019
  • Table 181: H.C. Starck: Summary of tungsten operations, 2020
  • Table 182: King Island Scheelite: Dolphin JORC resources, 2019
  • Table 183: Kennametal: Production of tungsten concentrates in Bolivia, 2012-2019
  • Table 184: Kennametal: Summary of tungsten operations, 2019
  • Table 185: Northcliff Resources: Sisson NI 43-101 mineral reserves
  • Table 186: Novoorlovsky GOK: Production of tungsten concentrates, 2011-2019
  • Table 187: Nui Phao Mining Company: Tungsten output by product, 2013-2019
  • Table 188: JSC Primorsky GOK: Production of tungsten concentrates, 2011-2019
  • Table 189: Saloro: Barruecopardo measured, indicated and inferred mineral resources
  • Table 190: WBH: Production of tungsten concentrates, 2011-2019
  • Table 191: Speciality Metals International: Mt Carbine JORC resources
  • Table 192: Sumitomo Electric Industries: Summary of tungsten operations, 2020
  • Table 193: Thor Mining: Molyhil JORC resources
  • Table 194: Thor Mining: Bonya JORC resources
  • Table 195: Thor Mining: Pilot Mountain JORC resources
  • Table 196: W Resources: La Parrilla JORC reserves
  • Table 197: W Resources: Régua JORC resources
  • Table 198: Wolfram JSC: Summary of tungsten operations, 2020
  • Table 199: Forecast GDP for top-30 economies and regions, 2019-2030
  • Table 200: Forecast GDP growth rates for top-30 economies and regions, 2019-2030
  • Table 201: Forecast GDP per capita for top-30 economies and regions, 2019-2030
  • Table 202: Forecast population for top-30 economies and regions, 2019-2030
  • Table 203: Forecast inflation for top-30 economies and regions, 2019-2030
  • Table 204: Forecast exchange rates and energy prices, 2019-2030

List of Figures

  • Figure 1: Mine production of tungsten by main country, 2011-2019
  • Figure 2: Consumption of tungsten by first-uses, 2011-2019
  • Figure 3: Consumption of tungsten by end-use, 2019
  • Figure 4: Tungsten supply and demand balance, 2011-2019
  • Figure 5: Nominal and real European APT prices, 2011-2020
  • Figure 6: Cost curve for tungsten producers by major cost area, 2019
  • Figure 7: Price trends for the main tungsten by-product metals, 2015-2019, Jan 2015=100
  • Figure 8: Outlook for tungsten demand by market, 2019-2029
  • Figure 9: Roskill's tungsten supply and demand forecast to 2029
  • Figure 10: Outlook for tungsten mine projects (adjusted for viability/delays), 2020-2029
  • Figure 11: European APT price outlook, 2020-2029
  • Figure 12: World: Outlook for global GDP and tungsten demand, 2000-2030
  • Figure 13: Tungsten flowchart, 2019
  • Figure 14: Production of tungsten concentrates by main countries, 2011-2019
  • Figure 15: Ex-China tungsten mine production, 2011-2019
  • Figure 16: Consumption of secondary tungsten, 2019
  • Figure 17: Cost curve for tungsten producers by major cost area, 2019
  • Figure 18: Cost curve for tungsten producers by region, 2019
  • Figure 19: Price trends for the main tungsten by-product metals, 2015-2019, Jan 2015=100
  • Figure 20: Exchange rates of major tungsten producing countries, 2015-2019, Jan 2015 =100
  • Figure 21: Comparison of labour and electricity cost within key tungsten producing provinces within China in 2019, Chinese average=100
  • Figure 22: UN Sustainable Development Goals
  • Figure 23: Roskill's ESG framework
  • Figure 24: Primary energy demand and global warming potential for 1kg W powder (in China)
  • Figure 25: Criticality matrix
  • Figure 26: European CRM list 2017
  • Figure 27: Consumption of tungsten by region and first-uses, 2019
  • Figure 28: Consumption of tungsten by first-use, 2019
  • Figure 29: Consumption of tungsten by end-use, 2019
  • Figure 30: China: Consumption of tungsten by market, 2011-2019
  • Figure 31: Europe: Consumption of tungsten by market, 2019
  • Figure 32: USA: Consumption of tungsten by market, 2011-2019
  • Figure 33: Japan: Consumption of tungsten by market, 2019
  • Figure 34: Estimated apparent consumption of tungsten, 2011-2019
  • Figure 35: Tungsten cumulative stock levels, 2011-2029
  • Figure 36: Tungsten concentrates trade flow, 2019
  • Figure 37: World: Tungstates trade flow, 2019
  • Figure 38: World: Tungsten oxides and hydroxide trade flow, 2019
  • Figure 39: World: Tungsten metal trade flow, 2019
  • Figure 40: World: Tungsten carbide trade flow, 2019
  • Figure 41: World: Tungsten waste and scrap trade flow, 2019
  • Figure 42: World: Ferrotungsten trade flow, 2019
  • Figure 43: Nominal and real European APT prices, 2011-2020
  • Figure 44: Premium/discount for European APT vs. Chinese APT prices, 2011-2020
  • Figure 45: APT seasonality effects, 2019
  • Figure 46: Nominal and Real Chinese tungsten concentrate prices, 2011-2020
  • Figure 47: Chinese concentrates price vs. Chinese APT price, 2008-2019
  • Figure 48: Nominal and Real Ferrotungsten prices, 2011-2020
  • Figure 49: Outlook for tungsten demand by market, 2019-2029
  • Figure 50: Outlook for primary and secondary tungsten supply, 2019-2029
  • Figure 51: Outlook for tungsten mine projects (no adjustment for viability/delays), 2019-2029
  • Figure 52: Outlook for tungsten mine projects (adjusted for viability/delays), 2020-2029
  • Figure 53: Roskill's tungsten supply and demand forecast to 2029
  • Figure 54: Tungsten supply and demand balance to 2029
  • Figure 55: European APT price outlook, 2020-2029
  • Figure 56: World: Tungsten resources by country, 2019
  • Figure 57: Simplified flow diagram for tungsten processing and markets
  • Figure 58: Typical wolframite upgrading process
  • Figure 59: Most common production processes for APT
  • Figure 60: Conversion from sodium to ammonium system
  • Figure 61: Production of tungsten carbide powder from APT
  • Figure 62: Simplified recycling flowchart for classical chemical method
  • Figure 63: Simplified recycling flowchart for zinc method
  • Figure 64: Chinese tungsten reserves, 2009-2018
  • Figure 65: Russia: Tungsten reserves by region, 2019
  • Figure 66: Cutting tool materials
  • Figure 67: World: Output of cemented carbides by main producers, 2011-2019
  • Figure 68: China: Cemented carbide output vs. motor vehicle production, 2011-2019
  • Figure 69: China: Consumption of tool materials by type, 2007 vs. 2017
  • Figure 70: China: Main end-use applications for cutting tools, 2019
  • Figure 71: Europe: Cemented carbide end markets, 2019
  • Figure 72: USA: Cemented carbide end markets, 2019
  • Figure 73: USA: Oil and gas rig count, 2011-2020
  • Figure 74: Production of ultra-hard metals by end use, 2019
  • Figure 75: Japan: Hard tools production by type (value)
  • Figure 76: Applications for cemented carbides, 2019
  • Figure 77: End-use markets for cemented carbides, 2019
  • Figure 78: Tungsten use in cemented carbides by source, 2011-2019
  • Figure 79: Outlook for sales of hybrid and electric vehicles, 2011-2029
  • Figure 80: Forecast demand for cemented carbides by end use
  • Figure 81: Elemental effects of metals in HPA
  • Figure 82: Production of superalloy by type, 2019
  • Figure 83: Historical and projected jet airplane deliveries, 1999-2029
  • Figure 84: World gas turbine orders, 1997-2017
  • Figure 85: Historical and projected airplane and helicopter deliveries, 2009-2029
  • Figure 86: Forecast demand for other tungsten alloys by application, 2020-2029
  • Figure 87: World: Installed lamp base by type, 2019
  • Figure 88 General lighting markets, 2019
  • Figure 89: Consumption of tungsten in lamps by region, 2019
  • Figure 90: Worldwide use of semiconductors by percentage end use, 2018
  • Figure 91: Generation of electricity by global region, 2011-2019
  • Figure 92: Historical and forecast production of vehicles by main countries and regions 2005-2029
  • Figure 93: World: Consumption of tungsten in chemicals and other applications, 2019