MENA: Tungsten Market 2024

Tungsten Market Size in MENA

In 2022, the MENA's tungsten market increased by X% to $X, rising for the third year in a row after three years of decline. In general, consumption, however, showed a perceptible decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tungsten Production in MENA

In value terms, tungsten production dropped sharply to $X in 2022 estimated in export price. In general, production, however, enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Tungsten Exports

Exports in MENA

In 2022, exports of tungsten in MENA declined sharply to X tons, dropping by X% on the previous year. In general, exports showed a perceptible setback. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tungsten exports contracted dramatically to $X in 2022. Overall, exports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Israel (X tons) was the major exporter of tungsten, creating X% of total exports. The United Arab Emirates (X kg) held the second position in the ranking, distantly followed by Turkey (X kg). All these countries together took approx. X% share of total exports.

Exports from Israel decreased at an average annual rate of X% from 2012 to 2022. At the same time, Turkey (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. The United Arab Emirates (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Israel ($X) emerged as the largest tungsten supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Israel totaled X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Tungsten Imports

Imports in MENA

In 2022, the amount of tungsten imported in MENA shrank notably to X tons, waning by X% against the previous year. Over the period under review, imports saw a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, tungsten imports fell to $X in 2022. In general, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons), Saudi Arabia (X tons) and Israel (X tons) represented the largest importer of tungsten in MENA, making up X% of total import. It was distantly followed by Iran (X tons), generating an X% share of total imports. The following importers - Tunisia (X kg), Algeria (X kg) and Kuwait (X kg) - each finished at a X% 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, Turkey ($X), Israel ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Tunisia, Iran, Kuwait and Algeria lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Tunisia, with a CAGR of X%, saw 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

In 2022, the import price in MENA amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a perceptible decline. The pace of growth appeared the most rapid in 2019 when the import price increased by X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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