In light of the fact that tungsten wire is gradually replacing high-carbon steel wire as a diamond cutting line, it is particularly important to study tungsten alloy wire with better strength and performance. According to this paper, in addition to various technological factors (powder preparation, press forming, sintering, rolling, rotary forging, annealing, wire drawing, etc.), the main factors affecting the properties of the tungsten alloy wire are the composition of the tungsten alloy, the shape and size of the powder, etc. Combined with the research results in recent years, this paper summarizes the effects of changing the composition of tungsten materials and improving the processing technology on the microstructure and mechanical properties of tungsten and its alloys and points out the development direction and trend of tungsten and its alloy wires in the future.