Eastern Asia: Tungsten Market 2024

Tungsten Market Size in Eastern Asia

The East Asian tungsten market reached $X in 2022, flattening at the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Tungsten Production in Eastern Asia

In value terms, tungsten production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt shrinkage. 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, production growth remained at a somewhat lower figure.

Tungsten Exports

Exports in Eastern Asia

Tungsten exports soared to X tons in 2022, picking up by X% against the previous year's figure. In general, exports enjoyed a significant 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 in 2022 and are likely to see gradual growth in years to come.

In value terms, tungsten exports surged to $X in 2022. Overall, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

China was the largest exporter of tungsten in Eastern Asia, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), comprising a X% share of total exports. Japan (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%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Taiwan (Chinese) increased by X and X percentage points, respectively.

In value terms, China ($X) remains the largest tungsten supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports.

In China, tungsten exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, reducing by X% against the previous year. Overall, the export price recorded a mild slump. The pace of growth appeared the most rapid in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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 Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Tungsten Imports

Imports in Eastern Asia

In 2022, imports of tungsten in Eastern Asia rose sharply to X tons, surging by X% compared with the previous year's figure. Over the period under review, imports recorded a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, tungsten imports expanded sharply to $X in 2022. Overall, imports posted prominent growth. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Japan (X tons) and Taiwan (Chinese) (X tons) dominates imports structure, together committing X% of total imports. It was distantly followed by South Korea (X tons), mixing up a X% share of total imports. Hong Kong SAR (X tons) held a relatively small share 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 Taiwan (Chinese) (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Taiwan (Chinese) ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Taiwan (Chinese), with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 Eastern Asia amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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