Africa: Tungsten Market 2024

Tungsten Market Size in Africa

The African tungsten market fell modestly to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Tungsten Production in Africa

In value terms, tungsten production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

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Tungsten Exports

Exports in Africa

In 2022, approx. X kg of tungsten were exported in Africa; falling by X% compared with the previous year's figure. Overall, exports continue to indicate a dramatic decline. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, tungsten exports shrank notably to $X in 2022. In general, exports recorded a sharp decline. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

South Africa dominates exports structure, reaching X kg, which was approx. X% of total exports in 2022. It was distantly followed by Kenya (X kg), achieving a X% share of total exports. Seychelles (X kg) followed a long way behind the leaders.

Exports from South Africa decreased at an average annual rate of X% from 2012 to 2022. Seychelles experienced a relatively flat trend pattern. Kenya (X%) illustrated a downward trend over the same period. While the share of South Africa (X p.p.), Kenya (X p.p.) and Seychelles (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X), Kenya ($X) and Seychelles ($X) were the countries with the highest levels of exports in 2022.

Kenya, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price saw a deep slump. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Seychelles ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kenya (X%).

Tungsten Imports

Imports in Africa

After two years of growth, purchases abroad of tungsten decreased by X% to X tons in 2022. Overall, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, tungsten imports declined slightly to $X in 2022. Over the period under review, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

Madagascar (X kg) and Tanzania (X kg) represented roughly X% of total imports in 2022. Tunisia (X kg) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Algeria (X%), Burkina Faso (X%) and Zimbabwe (X%). South Africa (X kg) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Tunisia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Tunisia ($X) constitutes the largest market for imported tungsten in Africa, comprising X% of total imports. The second position in the ranking was taken by Madagascar ($X), with a X% share of total imports. It was followed by South Africa, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Tunisia totaled X%. In the other countries, the average annual rates were as follows: Madagascar (X% per year) and South Africa (X% per year).

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, increasing by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Tunisia ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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