Vietnam Tungsten Industry Research Report 2025-2034
Tungsten is an important transition metal with high hardness, high melting point, no air erosion at room temperature, and relatively stable chemical properties. Tungsten mainly exists in the form of scheelite (CaWO?) and wolframite ((Fe,Mn)WO?), which can be extracted as metatungstate by chemical methods and then reduced to metal. With high hardness, heat resistance and good electrical and thermal conductivity, tungsten is widely used in filaments, cutting tools, high-temperature alloys, electronic components, aerospace and military equipment, and medical imaging equipment.
The tungsten industry can be divided into upstream mineral exploration and mining, midstream mineral processing, smelting and deep processing, and downstream application areas. According to CRI analysis, the upstream of the tungsten industry is mainly concentrated in the mining and flotation of wolframite and scheelite. The midstream is mainly based on hydrometallurgy and pyrometallurgy, converting tungsten concentrate into ammonium paratungstate (APT), tungsten oxide (WO?, WO?) and ferrotungsten (FeW).
Downstream applications mainly include cemented carbide, tungsten materials, tungsten special steel and tungsten chemical products. Among them, cemented carbide is the largest application field of tungsten, accounting for more than 50% of the total tungsten consumption, and is widely used in mechanical processing, automobile manufacturing and electronics industries.
In recent years, the global tungsten market demand has shown a steady growth trend. According to public data, the global tungsten demand will reach about 126,000 metric tons in 2023. According to CRI analysis, transportation, mining and construction are the main industries for tungsten consumption, and the total demand for tungsten consumption reaches more than 50%. In addition, tungsten also occupies an important proportion in chemicals, durable consumer goods, energy, defense and other industrial uses. From a regional perspective, the Asia-Pacific region dominates with strong industrialization and infrastructure construction. The European and American markets have strong demand in aerospace, automobiles and electronics.
CRI predicts that with the rapid development of new energy vehicles, aerospace and industrial automation, these fields will become important driving points for tungsten demand, and the global demand for tungsten and its compounds will continue to rise in the next few years.
Vietnam is one of the world's major tungsten producers. According to data from the United States Geological Survey (USGS), Vietnam's proven recoverable tungsten reserves in 2023 are 140,000 tons, and its output is about 3,500 tons, making it the second largest producer after China. The preliminary estimate of tungsten production in 2024 is 3,400 tons, a decrease of 100 tons from the previous year, accounting for about 8% of US imports.
Nui Phao Mine (Masan High-Tech Materials) and Thien Ke (Tuy?n Quang) Mine are the main tungsten mines in Vietnam, among which Nui Phao Mine is also one of the largest tungsten deposits in the world. According to CRI analysis, Vietnam's tungsten industry has formed a dual-main force pattern with Nui Phao and Thien Ke as the core, and companies such as Masan High-Tech Materials and Vietnam Youngsun. In the future, with the implementation of Vietnam's tungsten deep processing projects and the involvement of overseas investors, Vietnam is expected to further enhance its position in the global tungsten market.
According to CRI analysis, in recent years, the Vietnamese government has been focusing on providing differentiated management and support at the legal, planning and special policy levels to improve the efficiency of local tungsten resource utilization, ensure industrial safety and promote the development of medium and deep processing. The "Special Plan for Mineral Development and Utilization in 2025 and 2035" promulgated by the Vietnamese government in 2018 clearly listed tungsten, tin, antimony and other products as priority layout objects, and required governments at all levels to update and refine regional mineral development plans on schedule. In 2024, the Vietnamese government reiterated that "a green circular mining industry will be built by 2045", and the tungsten industry was clearly identified as one of the pilot areas for the circular economy.
CRI predicts that Vietnam's tungsten industry will be expected to usher in a broader development in the future, driven by the dual demands of Vietnam's local tungsten market and the international tungsten market.
CRI recommends that global mining-related companies should conduct timely research on the Vietnamese market and prepare for the layout of the Vietnamese and international tungsten markets. The Shanghai, China and Hanoi, Vietnam offices of CRI will help foreign companies enter Vietnam's tungsten mining, tungsten smelting and related markets.
Topics covered:
Tungsten,tungsten resources, tungsten carbide, tungsten trioxide, tungsten powder, mineral resources, non-ferrous metal industry, metallurgy, aerospace and military manufacturing, machinery manufacturing
Companies Mentioned
Masan High-Tech Materials
The tungsten industry can be divided into upstream mineral exploration and mining, midstream mineral processing, smelting and deep processing, and downstream application areas. According to CRI analysis, the upstream of the tungsten industry is mainly concentrated in the mining and flotation of wolframite and scheelite. The midstream is mainly based on hydrometallurgy and pyrometallurgy, converting tungsten concentrate into ammonium paratungstate (APT), tungsten oxide (WO?, WO?) and ferrotungsten (FeW).
Downstream applications mainly include cemented carbide, tungsten materials, tungsten special steel and tungsten chemical products. Among them, cemented carbide is the largest application field of tungsten, accounting for more than 50% of the total tungsten consumption, and is widely used in mechanical processing, automobile manufacturing and electronics industries.
In recent years, the global tungsten market demand has shown a steady growth trend. According to public data, the global tungsten demand will reach about 126,000 metric tons in 2023. According to CRI analysis, transportation, mining and construction are the main industries for tungsten consumption, and the total demand for tungsten consumption reaches more than 50%. In addition, tungsten also occupies an important proportion in chemicals, durable consumer goods, energy, defense and other industrial uses. From a regional perspective, the Asia-Pacific region dominates with strong industrialization and infrastructure construction. The European and American markets have strong demand in aerospace, automobiles and electronics.
CRI predicts that with the rapid development of new energy vehicles, aerospace and industrial automation, these fields will become important driving points for tungsten demand, and the global demand for tungsten and its compounds will continue to rise in the next few years.
Vietnam is one of the world's major tungsten producers. According to data from the United States Geological Survey (USGS), Vietnam's proven recoverable tungsten reserves in 2023 are 140,000 tons, and its output is about 3,500 tons, making it the second largest producer after China. The preliminary estimate of tungsten production in 2024 is 3,400 tons, a decrease of 100 tons from the previous year, accounting for about 8% of US imports.
Nui Phao Mine (Masan High-Tech Materials) and Thien Ke (Tuy?n Quang) Mine are the main tungsten mines in Vietnam, among which Nui Phao Mine is also one of the largest tungsten deposits in the world. According to CRI analysis, Vietnam's tungsten industry has formed a dual-main force pattern with Nui Phao and Thien Ke as the core, and companies such as Masan High-Tech Materials and Vietnam Youngsun. In the future, with the implementation of Vietnam's tungsten deep processing projects and the involvement of overseas investors, Vietnam is expected to further enhance its position in the global tungsten market.
According to CRI analysis, in recent years, the Vietnamese government has been focusing on providing differentiated management and support at the legal, planning and special policy levels to improve the efficiency of local tungsten resource utilization, ensure industrial safety and promote the development of medium and deep processing. The "Special Plan for Mineral Development and Utilization in 2025 and 2035" promulgated by the Vietnamese government in 2018 clearly listed tungsten, tin, antimony and other products as priority layout objects, and required governments at all levels to update and refine regional mineral development plans on schedule. In 2024, the Vietnamese government reiterated that "a green circular mining industry will be built by 2045", and the tungsten industry was clearly identified as one of the pilot areas for the circular economy.
CRI predicts that Vietnam's tungsten industry will be expected to usher in a broader development in the future, driven by the dual demands of Vietnam's local tungsten market and the international tungsten market.
CRI recommends that global mining-related companies should conduct timely research on the Vietnamese market and prepare for the layout of the Vietnamese and international tungsten markets. The Shanghai, China and Hanoi, Vietnam offices of CRI will help foreign companies enter Vietnam's tungsten mining, tungsten smelting and related markets.
Topics covered:
- Overview of the Tungsten Industry in Vietnam
- The Economic and Policy Environment of Tungsten Industry in Vietnam
- The Market Size of Tungsten Industry in Vietnam (2025-2034)
- Analysis of Major Tungsten Industry Manufacturers in Vietnam
- Main Driving Forces and Market Opportunities of Tungsten Industry in Vietnam
- What are the main driving forces, challenges and opportunities of tungsten industry in Vietnam during the forecast period of 2025-2034?
- Which companies are the main players in Vietnam's tungsten industry market and what are their competitive advantages?
- What is the expected revenue of Vietnam's tungsten industry market during the forecast period of 2025-2034?
- Which part of Vietnam's tungsten industry market will be expected to dominate the market in 2034?
- What are the main disadvantages facing Vietnam's tungsten industry?
- How can foreign capital enter Vietnam's tungsten industry?
Tungsten,tungsten resources, tungsten carbide, tungsten trioxide, tungsten powder, mineral resources, non-ferrous metal industry, metallurgy, aerospace and military manufacturing, machinery manufacturing
Companies Mentioned
Masan High-Tech Materials
1 OVERVIEW OF VIETNAM
1.1 Geography of Vietnam
1.2 Demographics of Vietnam
1.3 Economic Condition of Vietnam
1.4 Minimum Wages Standard in Vietnam
2 OVERVIEW OF TUNGSTEN INDUSTRY
2.1 Definition and Classification of the Tungsten Industry
2.1.1 Definition of the Tungsten Industry
2.1.2 Classification of Tungsten
2.2 Tungsten Industry Chain in Vietnam
2.2.1 Upstream: Ore Mining
2.2.2 Midstream: Tungsten Refining and Production
2.2.3 Downstream: Application and Markets
2.3 The Policy Environment of Tungsten Industry in Vietnam
2.4 CRI's Recommendations for Foreign Companies Investing in Vietnam's Tungsten Industry
3 SUPPLY AND DEMAND OF TUNGSTEN INDUSTRY IN VIETNAM
3.1 Supply Analysis
3.1.1 Tungsten Reserves and Distribution in Vietnam
3.1.2 Tungsten Output in Vietnam
3.1.3 Tungsten Purification and Smelting Technology in Vietnam
3.2 Demand Analysis
3.2.1 Tungsten Consumption in the World
3.2.2 Tungsten Consumption in Vietnam
3.2.3 Tungsten Consumption Structure Distribution
4 IMPORT AND EXPORT OF TUNGSTEN INDUSTRY IN VIETNAM
4.1 Import Situation of Vietnam’s Tungsten Industry
4.1.1 Import Volumes of Vietnam’s Tungsten
4.1.2 Import Sources of Vietnam’s Tungsten
4.2 Export Situation of Vietnam’s Tungsten Industry
4.2.1 Export Volumes of Vietnam’s Tungsten
4.2.2 Export Destinations of Vietnam’s Tungsten
5 MARKET COMPETITION OF TUNGSTEN INDUSTRY IN VIETNAM
5.1 Entry Barriers to Vietnam’s Tungsten Industry
5.1.1 Technical Barriers
5.1.2 Regulatory Approval Barriers
5.1.3 Capital Investment Barriers
5.2 Competition Structure in Vietnam’s Tungsten Industry
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Competition in Vietnam’s Tungsten Industry
5.2.4 Potential of New Entrants
5.2.5 Threat of Substitutes
6. ANALYSIS OF MAIN COMPANIES OF VIETNAM’S TUNGSTEN
6.1 Company 1
6.1.1 Development History
6.1.2 Main Business
6.1.3 Operation Model
6.2 Company 2
6.2.1 Development History
6.2.2 Main Business
6.2.3 Operation Model
6.3 Company 3
6.3.1 Development History
6.3.2 Main Business
6.3.3 Operation Model
6.4 Company 4
6.4.1 Development History
6.4.2 Main Business
6.4.3 Operation Model
6.5 Company 5
6.5.1 Development History
6.5.2 Main Business
6.5.3 Operation Model
7. OUTLOOK OF TUNGSTEN INDUSTRY IN VIETNAM 2025-2034
7.1 Analysis of Development Factors of Vietnam’s Tungsten Industry
7.1.1 Driving Force and Development Opportunities of Vietnam’s Tungsten Industry
7.1.2 Threats and Challenges Faced by Vietnam’s Tungsten Industry
7.2 Supply Forecast of Tungsten Industry in Vietnam
7.3 Market Demand Forecast of Tungsten in Vietnam
7.4 Import and Export Forecast of Tungsten in Vietnam
Disclaimer
Service Guarantees
1.1 Geography of Vietnam
1.2 Demographics of Vietnam
1.3 Economic Condition of Vietnam
1.4 Minimum Wages Standard in Vietnam
2 OVERVIEW OF TUNGSTEN INDUSTRY
2.1 Definition and Classification of the Tungsten Industry
2.1.1 Definition of the Tungsten Industry
2.1.2 Classification of Tungsten
2.2 Tungsten Industry Chain in Vietnam
2.2.1 Upstream: Ore Mining
2.2.2 Midstream: Tungsten Refining and Production
2.2.3 Downstream: Application and Markets
2.3 The Policy Environment of Tungsten Industry in Vietnam
2.4 CRI's Recommendations for Foreign Companies Investing in Vietnam's Tungsten Industry
3 SUPPLY AND DEMAND OF TUNGSTEN INDUSTRY IN VIETNAM
3.1 Supply Analysis
3.1.1 Tungsten Reserves and Distribution in Vietnam
3.1.2 Tungsten Output in Vietnam
3.1.3 Tungsten Purification and Smelting Technology in Vietnam
3.2 Demand Analysis
3.2.1 Tungsten Consumption in the World
3.2.2 Tungsten Consumption in Vietnam
3.2.3 Tungsten Consumption Structure Distribution
4 IMPORT AND EXPORT OF TUNGSTEN INDUSTRY IN VIETNAM
4.1 Import Situation of Vietnam’s Tungsten Industry
4.1.1 Import Volumes of Vietnam’s Tungsten
4.1.2 Import Sources of Vietnam’s Tungsten
4.2 Export Situation of Vietnam’s Tungsten Industry
4.2.1 Export Volumes of Vietnam’s Tungsten
4.2.2 Export Destinations of Vietnam’s Tungsten
5 MARKET COMPETITION OF TUNGSTEN INDUSTRY IN VIETNAM
5.1 Entry Barriers to Vietnam’s Tungsten Industry
5.1.1 Technical Barriers
5.1.2 Regulatory Approval Barriers
5.1.3 Capital Investment Barriers
5.2 Competition Structure in Vietnam’s Tungsten Industry
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Competition in Vietnam’s Tungsten Industry
5.2.4 Potential of New Entrants
5.2.5 Threat of Substitutes
6. ANALYSIS OF MAIN COMPANIES OF VIETNAM’S TUNGSTEN
6.1 Company 1
6.1.1 Development History
6.1.2 Main Business
6.1.3 Operation Model
6.2 Company 2
6.2.1 Development History
6.2.2 Main Business
6.2.3 Operation Model
6.3 Company 3
6.3.1 Development History
6.3.2 Main Business
6.3.3 Operation Model
6.4 Company 4
6.4.1 Development History
6.4.2 Main Business
6.4.3 Operation Model
6.5 Company 5
6.5.1 Development History
6.5.2 Main Business
6.5.3 Operation Model
7. OUTLOOK OF TUNGSTEN INDUSTRY IN VIETNAM 2025-2034
7.1 Analysis of Development Factors of Vietnam’s Tungsten Industry
7.1.1 Driving Force and Development Opportunities of Vietnam’s Tungsten Industry
7.1.2 Threats and Challenges Faced by Vietnam’s Tungsten Industry
7.2 Supply Forecast of Tungsten Industry in Vietnam
7.3 Market Demand Forecast of Tungsten in Vietnam
7.4 Import and Export Forecast of Tungsten in Vietnam
Disclaimer
Service Guarantees
LIST OF CHARTS
Chart 2018-2024 Minimum Wage Standards in Vietnam
Chart Tungsten Industry chain
Chart 2020-2024 Reserves of Tungsten in Vietnam
Chart 2020-2024 Production of Tungsten in Vietnam
Chart 2020-2024 Consumption of Tungsten in the World
Chart 2020-2024 Import Volume of Tungsten in Vietnam
Chart 2020-2024 Export Volume of Tungsten in Vietnam
Chart Basic Information of Vietnamese Tungsten Company 1
Chart Basic Information of Vietnamese Tungsten Company 2
Chart Basic Information of Vietnamese Tungsten Company 3
Chart Basic Information of Vietnamese Tungsten Company 4
Chart Basic Information of Vietnamese Tungsten Company 5
Chart Reserves Forecast of Tungsten in Vietnam (2025-2034)
Chart Supply Forecast of Tungsten in Vietnam (2025-2034)
Chart Demand Forecast of Tungsten in Vietnam (2025-2034)
Chart Import and Export Forecast of Tungsten in Vietnam (2025-2034)
Chart 2018-2024 Minimum Wage Standards in Vietnam
Chart Tungsten Industry chain
Chart 2020-2024 Reserves of Tungsten in Vietnam
Chart 2020-2024 Production of Tungsten in Vietnam
Chart 2020-2024 Consumption of Tungsten in the World
Chart 2020-2024 Import Volume of Tungsten in Vietnam
Chart 2020-2024 Export Volume of Tungsten in Vietnam
Chart Basic Information of Vietnamese Tungsten Company 1
Chart Basic Information of Vietnamese Tungsten Company 2
Chart Basic Information of Vietnamese Tungsten Company 3
Chart Basic Information of Vietnamese Tungsten Company 4
Chart Basic Information of Vietnamese Tungsten Company 5
Chart Reserves Forecast of Tungsten in Vietnam (2025-2034)
Chart Supply Forecast of Tungsten in Vietnam (2025-2034)
Chart Demand Forecast of Tungsten in Vietnam (2025-2034)
Chart Import and Export Forecast of Tungsten in Vietnam (2025-2034)
