United Arab Emirates: Tungsten Market 2024

Tungsten Market Size in the United Arab Emirates

The tungsten market in the United Arab Emirates was finally on the rise to reach $X in 2022, after six years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Tungsten Production in the United Arab Emirates

In value terms, tungsten production amounted 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 consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Tungsten Exports

Exports from the United Arab Emirates

After six years of growth, overseas shipments of tungsten decreased by X% to X kg in 2022. In general, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then declined significantly in the following year.

In value terms, tungsten exports dropped dramatically to $X in 2022. Overall, exports, however, posted a prominent increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank sharply in the following year.

Exports by Country

Qatar (X kg), the United States (X kg) and Romania (X kg) were the main destinations of tungsten exports from the United Arab Emirates, together comprising X% of total exports.

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

In value terms, the largest markets for tungsten exported from the United Arab Emirates were Qatar ($X), Romania ($X) and the United States ($X), with a combined X% share of total exports.

Romania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tungsten export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tungsten Imports

Imports into the United Arab Emirates

In 2022, purchases abroad of tungsten increased by X% to X kg, rising for the third year in a row after two years of decline. Over the period under review, imports recorded a strong expansion. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of X kg. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, tungsten imports surged to $X in 2022. Overall, imports saw buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X kg) constituted the largest supplier of tungsten to the United Arab Emirates, with a X% share of total imports. Moreover, tungsten imports from the United States exceeded the figures recorded by the second-largest supplier, India (X kg), more than tenfold.

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

In value terms, the largest tungsten suppliers to the United Arab Emirates were the United States ($X), Israel ($X) and India ($X), with a combined X% share of total imports.

Israel, with a CAGR of X.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tungsten import price amounted to $X per ton, surging by X% against the previous year. In general, import price indicated a mild increase 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. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :