Asia-Pacific: Tungsten Market 2024

Tungsten Market Size in Asia-Pacific

The Asia-Pacific tungsten market stood at $X in 2022, remaining relatively unchanged against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Tungsten Production in Asia-Pacific

In value terms, tungsten production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

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Tungsten Exports

Exports in Asia-Pacific

In 2022, the amount of tungsten exported in Asia-Pacific soared to X tons, increasing by X% on 2021 figures. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, tungsten exports soared to $X in 2022. Over the period under review, exports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

In 2022, China (X tons) represented the major exporter of tungsten, mixing up X% of total exports. Taiwan (Chinese) (X tons) took the second position in the ranking, followed by Singapore (X tons) and India (X tons). All these countries together took approx. X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tungsten exports from China stood at X%. At the same time, Taiwan (Chinese) (X%), Singapore (X%) and India (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. China (X p.p.), Taiwan (Chinese) (X p.p.) and Singapore (X p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest tungsten supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by India, with a X% share.

In China, tungsten exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the export price figures.

Tungsten Imports

Imports in Asia-Pacific

Tungsten imports skyrocketed to X tons in 2022, picking up by X% compared with 2021. In general, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, tungsten imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a strong expansion. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

The purchases of the three major importers of tungsten, namely Japan, Malaysia and Taiwan (Chinese), represented more than two-thirds of total import. It was distantly followed by South Korea (X tons), making up a X% share of total imports. India (X tons) and Australia (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Taiwan (Chinese) ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Among the main importing countries, Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, declining by X% against the previous year. Overall, the import price recorded a deep slump. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked 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 South Korea ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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