Report Update Nov 1, 2024

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

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Australia: Tungsten Market 2024

Tungsten Market Size in Australia

The Australian tungsten market soared to $X in 2022, jumping by 17% against the previous year. Overall, consumption enjoyed buoyant growth. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Tungsten Production in Australia

In value terms, tungsten production reached $X in 2022 estimated in export price. In general, production recorded a significant expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 118% against the previous year. Tungsten production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Tungsten Exports

Exports from Australia

In 2022, overseas shipments of tungsten increased by 36% to X kg, rising for the second consecutive year after six years of decline. Over the period under review, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 251% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, tungsten exports declined rapidly to $X in 2022. Overall, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 651% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X kg) was the main destination for tungsten exports from Australia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to New Zealand amounted to +64.5%.

In value terms, New Zealand ($X) also remains the key foreign market for tungsten exports from Australia.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand totaled +71.0%.

Export Prices by Country

The average tungsten export price stood at $X per ton in 2022, falling by -65.2% against the previous year. In general, the export price, however, enjoyed a mild expansion. The pace of growth appeared the most rapid in 2021 an increase of 114%. As a result, the export price attained the peak level of $X per ton, and then declined rapidly in the following year.

As there is only one major export destination, the average price level is determined by prices for New Zealand.

From 2012 to 2022, the rate of growth in terms of prices for South Korea amounted to +11.0% per year.

Tungsten Imports

Imports into Australia

In 2022, approx. X tons of tungsten were imported into Australia; rising by 35% on 2021 figures. In general, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 103% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, tungsten imports surged to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 86%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The UK (X tons), Hong Kong SAR (X tons) and China (X tons) were the main suppliers of tungsten imports to Australia, with a combined 99% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +10.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the UK ($X), Hong Kong SAR ($X) and China ($X) constituted the largest tungsten suppliers to Australia, with a combined 97% share of total imports.

Among the main suppliers, Hong Kong SAR, with a CAGR of +9.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average tungsten import price amounted to $X per ton, growing by 12% against the previous year. Overall, the import price, however, showed a abrupt setback. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Hong Kong SAR ($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 (+16.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tungsten in the world?

The country with the largest volume of tungsten consumption was China, comprising approx. 86% of total volume. It was followed by Russia, with a 2.5% share of total consumption.

What are the largest producers of tungsten in the world?

China constituted the country with the largest volume of tungsten production, comprising approx. 88% of total volume. It was followed by Russia, with a 2.4% share of total production.

What are the leading suppliers of tungsten to Australia?

In value terms, Hong Kong SAR, the UK and China appeared to be the largest tungsten suppliers to Australia, together comprising 95% of total imports.

What are the leading importers of tungsten from Australia?

In value terms, China emerged as the key foreign market for tungsten exports from Australia, comprising 77% of total exports. The second position in the ranking was occupied by Brazil, with a 7.8% share of total exports. It was followed by South Korea, with a 7.4% share.

What is the average export price for tungsten in Australia?

The average tungsten export price stood at $207,821 per ton in 2021, rising by 63% against the previous year.

What is the average import price for tungsten in Australia?

The average tungsten import price stood at $41,749 per ton in 2021, falling by -9.2% against the previous year.

This report provides an in-depth analysis of the tungsten market in Australia. 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:

Australia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Australia
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.

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. 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. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023