Is sodium tungstate demand from catalysts and specialty applications growing faster than supply?

Is sodium tungstate demand from catalysts and specialty applications growing faster than supply?
Sodium tungstate serves as a precursor for tungsten catalysts used in petroleum refining, emission control, and fine chemicals. The push for low-sulfur fuels and stricter environmental regulations globally is boosting catalyst demand. Molybdenum, a sister metal, saw ferromolybdenum prices jump 3,500 yuan per ton in a single day in April 2026, reflecting strong specialty steel and chemical demand. Tungsten catalysts face similar tailwinds. However, supply growth is constrained. China's tungsten concentrate output is plateauing due to resource depletion and environmental costs. The global tungsten market is small, around 80,000-90,000 tonnes of contained metal annually, making it susceptible to demand shocks. Sodium tungstate producers are operating near capacity, and new capacity additions are limited. This supply-demand imbalance suggests sustained upward price pressure for downstream buyers.