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Report World - Tungsten - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

World - Tungsten - Market Analysis, Forecast, Size, Trends and Insights

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Global Tungsten Market 2024

Tungsten Market Size

The global tungsten market reached $X in 2022, picking up by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the global market remained at a lower figure.

Tungsten Production

In value terms, tungsten production reduced to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2022, global production growth failed to regain momentum.

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Tungsten Exports

Exports

In 2022, shipments abroad of tungsten increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the global exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tungsten exports soared to $X in 2022. In general, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), Singapore (X tons), India (X tons) and Canada (X tons), together committing a X% share of total exports. The UK (X tons) and the Netherlands (X tons) followed a long way behind the leaders.

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%), Canada (X%), India (X%), the Netherlands (X%) and the UK (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. While the share of China (X p.p.), Taiwan (Chinese) (X p.p.), Singapore (X p.p.), India (X p.p.) and Canada (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

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

Export Prices by Country

The average tungsten export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price saw a remarkable increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. The global export price peaked in 2022 and is expected to retain growth in the near future.

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

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

Tungsten Imports

Imports

Global tungsten imports surged to X tons in 2022, with an increase of X% against the year before. In general, imports posted a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, tungsten imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a pronounced 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, global imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Japan (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons) represented the key importer of tungsten in the world, achieving X% of total import. It was distantly followed by the United States (X tons), constituting a X% share of total imports. The following importers - South Korea (X tons), the UK (X tons), Russia (X tons), India (X tons) and Australia (X tons) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Russia (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest tungsten importing markets worldwide were Japan ($X), Taiwan (Chinese) ($X) and the United States ($X), with a combined X% share of global imports. Malaysia, South Korea, the UK, India, Australia and Russia lagged somewhat behind, together accounting for a further X%.

Malaysia, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average tungsten import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Global import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 the United States (X%), while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of tungsten consumption was China, accounting for 84% of total volume. It was followed by Russia, with a 2.4% share of total consumption.
The country with the largest volume of tungsten production was China, accounting for 87% of total volume. It was followed by Russia, with a 2.3% share of total production.
In value terms, China remains the largest tungsten supplier worldwide, comprising 56% of global exports. The second position in the ranking was held by the UK, with a 10% share of global exports. It was followed by Singapore, with a 4.5% share.
In value terms, the largest tungsten importing markets worldwide were Japan, Taiwan Chinese) and the United States, with a combined 57% share of global imports. Malaysia, South Korea, the UK, India, Australia and Russia lagged somewhat behind, together accounting for a further 26%.
The average tungsten export price stood at $42,247 per ton in 2022, increasing by 7.1% against the previous year.
The average tungsten import price stood at $37,800 per ton in 2022, with a decrease of -4.8% against the previous year.

This report provides an in-depth analysis of the global tungsten market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

    + the largest producing countries

    Data coverage:

    • Global market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Global production, split by region and country
    • Global trade (exports and imports)
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. CONSUMPTION BY COUNTRY
      3. MARKET FORECAST TO 2030

    4. 4. MOST PROMISING PRODUCT

      Finding New Products to Diversify Your Business

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCT
      4. MOST TRADED PRODUCT
      5. MOST PROFITABLE PRODUCT FOR EXPORT

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Exports

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. GLOBAL PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
      2. PRODUCTION BY COUNTRY

    8. 8. GLOBAL IMPORTS

      The Largest Importers on The Market and How They Succeed

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. GLOBAL EXPORTS

      The Largest Exporters on The Market and How They Succeed

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. 11. COUNTRY PROFILES

      The Largest Markets And Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
      • United States
      • China
      • Japan
      • Germany
      • United Kingdom
      • France
      • Brazil
      • Italy
      • Russian Federation
      • India
      • Canada
      • Australia
      • Republic of Korea
      • Spain
      • Mexico
      • Indonesia
      • Netherlands
      • Turkey
      • Saudi Arabia
      • Switzerland
      • Sweden
      • Nigeria
      • Poland
      • Belgium
      • Argentina
      • Norway
      • Austria
      • Thailand
      • United Arab Emirates
      • Colombia
      • Denmark
      • South Africa
      • Malaysia
      • Israel
      • Singapore
      • Egypt
      • Philippines
      • Finland
      • Chile
      • Ireland
      • Pakistan
      • Greece
      • Portugal
      • Kazakhstan
      • Algeria
      • Czech Republic
      • Qatar
      • Peru
      • Romania
      • Vietnam

    12. LIST OF TABLES

      1. Key Findings In 2023
      2. Market Volume, In Physical Terms, 2012–2023
      3. Market Value, 2012–2023
      4. Per Capita Consumption, By Country, 2018–2023
      5. Production, In Physical Terms, By Country, 2012–2023
      6. Imports, In Physical Terms, By Country, 2012–2023
      7. Imports, In Value Terms, By Country, 2012–2023
      8. Import Prices, By Country Of Destination, 2012–2023
      9. Exports, In Physical Terms, By Country, 2012–2023
      10. Exports, In Value Terms, By Country, 2012–2023
      11. Export Prices, By Country Of Origin, 2012–2023

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Consumption, By Country, 2023
      4. Market Volume Forecast to 2030
      5. Market Value Forecast to 2030
      6. Products: Market Size And Growth, By Type
      7. Products: Average Per Capita Consumption, By Type
      8. Products: Exports And Growth, By Type
      9. Products: Export Prices And Growth, By Type
      10. Production Volume And Growth
      11. Exports And Growth
      12. Export Prices And Growth
      13. Market Size And Growth
      14. Per Capita Consumption
      15. Imports And Growth
      16. Import Prices
      17. Production, In Physical Terms, 2012–2023
      18. Production, In Value Terms, 2012–2023
      19. Production, By Country, 2023
      20. Production, In Physical Terms, By Country, 2012–2023
      21. Imports, In Physical Terms, 2012–2023
      22. Imports, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, By Country, 2023
      24. Imports, In Physical Terms, By Country, 2012–2023
      25. Imports, In Value Terms, By Country, 2012–2023
      26. Import Prices, By Country, 2012–2023
      27. Exports, In Physical Terms, 2012–2023
      28. Exports, In Value Terms, 2012–2023
      29. Exports, In Physical Terms, By Country, 2023
      30. Exports, In Physical Terms, By Country, 2012–2023
      31. Exports, In Value Terms, By Country, 2012–2023
      32. Export Prices, 2012–2023

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