United Kingdom - Tungsten - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRecord $9.6M in Tungsten Exports Achieved by UK in 2023
United Kingdom Tungsten Exports
After two years of growth, shipments abroad of tungsten decreased by -1% to 151 tons in 2023. In general, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2022 with an increase of 225% against the previous year. As a result, the exports attained the peak of 153 tons, and then shrank in the following year.
In value terms, tungsten exports expanded to $9.6M (IndexBox estimates) in 2023. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when exports increased by 91%. Over the period under review, the exports attained the maximum at $10M in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.
| COUNTRY | Export Value of Tungsten in United Kingdom (thousand USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Australia | 1,651 | 923 | 2,947 | 1,847 | 3,230 | 3,727 | 3,989 | 530 | 822 | 2,440 | 2,488 |
| Germany | 239 | 262 | 257 | 293 | 378 | 219 | 372 | 609 | 508 | 1,528 | 1,737 |
| France | 138 | 93.1 | 57.3 | 35.4 | 72.7 | 98.0 | 31.0 | 256 | 935 | 984 | 1,458 |
| Singapore | N/A | N/A | N/A | 35.4 | 6.6 | N/A | N/A | N/A | 2.2 | 9.5 | 647 |
| Mexico | 1.3 | N/A | 58.9 | 208 | 203 | 315 | 245 | 147 | 175 | 291 | 595 |
| United States | 833 | 717 | 1,019 | 1,184 | 746 | 2,099 | 726 | 405 | 580 | 2,056 | 562 |
| Taiwan (Chinese) | 279 | 366 | 230 | 120 | 119 | 158 | 135 | 108 | 59.1 | 208 | 468 |
| Italy | 350 | 476 | 555 | 519 | 275 | 268 | 125 | 478 | 398 | 540 | 440 |
| Thailand | 4,141 | 26.7 | 17.5 | 11.1 | 11.1 | 34.6 | 33.7 | 27.8 | 2.5 | 23.9 | 33.8 |
| Finland | 1,241 | 922 | 279 | 1.9 | 0.6 | N/A | N/A | 13.6 | 28.9 | N/A | N/A |
| Others | 1,574 | 1,205 | 1,196 | 863 | 1,373 | 1,536 | 2,592 | 1,432 | 1,374 | 1,249 | 1,213 |
| Total | 10,445 | 4,991 | 6,616 | 5,119 | 6,414 | 8,455 | 8,248 | 4,006 | 4,885 | 9,330 | 9,642 |
Exports by Country
Germany (85 tons) was the main destination for tungsten exports from the UK, with a 56% share of total exports. Moreover, tungsten exports to Germany exceeded the volume sent to the second major destination, Australia (23 tons), fourfold. France (13 tons) ranked third in terms of total exports with an 8.7% share.
From 2013 to 2023, the average annual growth rate of volume to Germany totaled +54.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+11.7% per year) and France (+46.0% per year).
In value terms, Australia ($2.5M), Germany ($1.7M) and France ($1.5M) were the largest markets for tungsten exported from the UK worldwide, with a combined 59% share of total exports. Singapore, Mexico, the United States, Taiwan (Chinese), Italy and Thailand lagged somewhat behind, together accounting for a further 28%.
Among the main countries of destination, Mexico, with a CAGR of +85.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the tungsten price stood at $63,783 per ton (FOB, United Kingdom), surging by 4.4% against the previous year. In general, the export price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 an increase of 21% against the previous year. The export price peaked at $255,206 per ton in 2013; however, from 2014 to 2023, 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 Mexico ($247,464 per ton), while the average price for exports to Germany ($20,518 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (-5.1%), while the prices for the other major destinations experienced a decline.
This report provides an in-depth analysis of the tungsten market in the UK. 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:
- United Kingdom
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the UK
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
