The market for critical raw materials, or CRMs in the strategic energy technologies sector, is predicted to continuously grow until the year 2030. Recently, the level of CRM recycling was estimated to be less than 10% compared to the use of these materials. Therefore, the growing need for CRMs poses challenges to their availability and market prices. Tungsten is considered by the US Department of Defense and the European Commission as a member of this group because of its economic importance and supply risk. It is very crucial in improving quality of life but access to it is a major concern around the world. This is why tungsten recycling is very vital to the economy.

Supply and Demand

Due to its unique characteristics of wear rate and heat resistance, tungsten has very few, if any, substitutes for its major applications. The biggest supplier and consumer of tungsten around the world is China, accounting for the majority of its production as well. However, studies showed that with the lessening growth of tungsten production in China, the country will reduce its exports and increase imports of the material. As a result, it is anticipated that other regional suppliers and contributors to tungsten recycling will promote an unrestricted increase in the material’s global demand.

Mining and Recycling

Researchers projected that mine production for tungsten will also rise. In addition, the same estimates project that the amount, timing, and location of future tungsten production depends on the availability and acquisition of the necessary funding required by companies to complete the projects. In the meantime, the development of advanced tungsten recycling processes for scrap metal and other materials provides a great opportunity to address the growing demand for CRMs. This is expected to result in more innovation within the recycling industry where recycling know-how, process technology, environmental expertise, and excellent material development work together to improve CRM production.