Report Update Nov 1, 2024

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

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Canada: Tungsten Market 2024

Tungsten Market Size in Canada

The Canadian tungsten market fell to $X in 2022, reducing by -11% against the previous year. Over the period under review, consumption saw a abrupt curtailment. Tungsten consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Tungsten Production in Canada

In value terms, tungsten production reduced to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt descent. The growth pace was the most rapid in 2018 when the production volume increased by 33% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Tungsten Exports

Exports from Canada

Tungsten exports from Canada skyrocketed to X tons in 2022, with an increase of 73% compared with 2021. Over the period under review, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 217%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, tungsten exports soared to $X in 2022. Overall, exports continue to indicate strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for tungsten exports from Canada, accounting for a 98% share of total exports. It was followed by the United States (X tons), with a 1.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +21.4%.

In value terms, Germany ($X) remains the key foreign market for tungsten exports from Canada, comprising 97% of total exports. The second position in the ranking was held by the United States ($X), with a 1.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +18.4%.

Export Prices by Country

In 2022, the average tungsten export price amounted to $X per ton, surging by 71% against the previous year. Over the period under review, the export price, however, saw a pronounced shrinkage. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Germany stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+6.1%).

Tungsten Imports

Imports into Canada

Tungsten imports into Canada contracted modestly to X tons in 2022, standing approx. at the year before. Over the period under review, imports showed a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 45%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, tungsten imports contracted to $X in 2022. In general, imports showed a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 29%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and the UK (X kg) were the main suppliers of tungsten imports to Canada, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +2.9%), while purchases for the other leaders experienced a decline.

In value terms, the largest tungsten suppliers to Canada were China ($X), the United States ($X) and the UK ($X), with a combined 99% share of total imports.

China, with a CAGR of +1.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average tungsten import price stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 45% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average 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 UK ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+5.1%), 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?

China constituted the country with the largest volume of tungsten consumption, 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?

The country with the largest volume of tungsten production was China, accounting for 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 Canada?

In value terms, the United States, China and Israel appeared to be the largest tungsten suppliers to Canada, with a combined 98% share of total imports.

What are the leading importers of tungsten from Canada?

In value terms, Germany remains the key foreign market for tungsten exports from Canada, comprising 88% of total exports. The second position in the ranking was occupied by China $393), with a 0.7% share of total exports.

What is the average export price for tungsten in Canada?

The average tungsten export price stood at $38,106 per ton in 2021, picking up by 23% against the previous year.

What is the average import price for tungsten in Canada?

In 2021, the average tungsten import price amounted to $73,255 per ton, falling by -3.8% against the previous year.

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

Canada

Data coverage:

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