EU: Tungsten Market 2024

Tungsten Market Size in the EU

The EU tungsten market expanded remarkably to $X in 2022, picking up by X% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2014 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in years to come.

Tungsten Production in the EU

In value terms, tungsten production expanded markedly to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Tungsten Exports

Exports in the EU

In 2022, the amount of tungsten exported in the European Union skyrocketed to X tons, picking up by X% against the year before. Over the period under review, exports showed a buoyant expansion. The growth pace was the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, tungsten exports skyrocketed to $X in 2022. Overall, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Netherlands represented the key exporting country with an export of around X tons, which resulted at X% of total exports. Luxembourg (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Austria (X%) and France (X%). The Czech Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to tungsten exports from the Netherlands stood at X%. At the same time, Luxembourg (X%), the Czech Republic (X%) and France (X%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2022. By contrast, Austria (X%) illustrated a downward trend over the same period. While the share of Luxembourg (X p.p.), the Netherlands (X p.p.), Austria (X p.p.) and the Czech Republic (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of France (X p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) emerged as the largest tungsten supplier in the European Union, comprising X% of total exports. The second position in the ranking was held by France ($X), with a X% share of total exports. It was followed by Austria, with a X% share.

From 2012 to 2022, the average annual growth rate of value in the Netherlands stood at X%. In the other countries, the average annual rates were as follows: France (X% per year) and Austria (X% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, increasing by X% against the previous year. In general, the export price posted a notable increase. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

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

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

Tungsten Imports

Imports in the EU

In 2022, overseas purchases of tungsten decreased by X% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, imports saw a noticeable slump. The pace of growth was the most pronounced in 2018 when imports increased by X%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tungsten imports rose notably to $X in 2022. In general, imports saw a pronounced curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons), distantly followed by the Netherlands (X tons), France (X tons), Spain (X tons) and Italy (X tons) were the largest importers of tungsten, together committing X% of total imports. Poland (X tons) and Ireland (X tons) took a relatively small share of total imports.

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

In value terms, Germany ($X) constitutes the largest market for imported tungsten in the European Union, comprising X% of total imports. The second position in the ranking was taken by France ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Germany stood at X%. In the other countries, the average annual rates were as follows: France (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tungsten import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

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 Italy ($X per ton), while Ireland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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