Malaysia: Tungsten Market 2024

Tungsten Market Size in Malaysia

The Malaysian tungsten market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption recorded a significant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Tungsten Production in Malaysia

In value terms, tungsten production contracted modestly to $X in 2022 estimated in export price. In general, the total production indicated a modest 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, production increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Tungsten production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

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Tungsten Exports

Exports from Malaysia

In 2022, exports of tungsten from Malaysia rose significantly to X tons, picking up by X% against the previous year. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tungsten exports fell dramatically to $X in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Lao People's Democratic Republic (X tons), Thailand (X tons) and Indonesia (X kg) were the main destinations of tungsten exports from Malaysia, with a combined X% share of total exports.

From 2014 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) remains the key foreign market for tungsten exports from Malaysia, comprising X% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2014 to 2022, the average annual rate of growth in terms of value to Thailand stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (X% per year) and Indonesia (X% per year).

Export Prices by Country

The average tungsten export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tungsten Imports

Imports into Malaysia

In 2022, after two years of decline, there was significant growth in overseas purchases of tungsten, when their volume increased by X% to X tons. Overall, imports saw a significant increase. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, tungsten imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Singapore (X tons) constituted the largest supplier of tungsten to Malaysia, with a X% share of total imports. Moreover, tungsten imports from Singapore exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The United States (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United States (X% per year).

In value terms, Singapore ($X) constituted the largest supplier of tungsten to Malaysia, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Singapore amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

Import Prices by Country

The average tungsten import price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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