Eastern Europe: Tungsten Market 2024

Tungsten Market Size in Eastern Europe

The East European tungsten market fell to $X in 2022, declining by -3.9% against the previous year. Overall, consumption saw a perceptible contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tungsten Production in Eastern Europe

In value terms, tungsten production fell modestly to $X in 2022 estimated in export price. Over the period under review, production saw a noticeable decline. The most prominent rate of growth was recorded in 2018 when the production volume increased by 149% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Tungsten Exports

Exports in Eastern Europe

In 2022, overseas shipments of tungsten decreased by -36.4% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, showed a slight increase. The most prominent rate of growth was recorded in 2019 with an increase of 167%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, tungsten exports contracted significantly to $X in 2022. Overall, exports showed a slight reduction. The pace of growth appeared the most rapid in 2019 when exports increased by 92% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Belarus was the main exporter of tungsten in Eastern Europe, with the volume of exports resulting at X tons, which was near 76% of total exports in 2022. It was distantly followed by the Czech Republic (X tons), committing a 20% share of total exports. Romania (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to tungsten exports from Belarus stood at +93.3%. At the same time, Romania (+125.8%) and the Czech Republic (+25.5%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +125.8% from 2012-2022. From 2012 to 2022, the share of Belarus, the Czech Republic and Romania increased by +75, +17 and +3.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belarus ($X) remains the largest tungsten supplier in Eastern Europe, comprising 74% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 21% share of total exports.

In Belarus, tungsten exports expanded at an average annual rate of +80.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Czech Republic (+24.2% per year) and Romania (+52.3% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the export price, however, saw a noticeable descent. The growth pace was the most rapid in 2018 when the export price increased by 53%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

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 the Czech Republic ($X per ton), while Romania ($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 Czech Republic (-1.0%), while the other leaders experienced a decline in the export price figures.

Tungsten Imports

Imports in Eastern Europe

In 2022, the amount of tungsten imported in Eastern Europe dropped dramatically to X tons, reducing by -29.5% compared with the previous year. Over the period under review, imports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2017 when imports increased by 115%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tungsten imports contracted significantly to $X in 2022. In general, imports faced a abrupt contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 121%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Russia prevails in imports structure, resulting at X tons, which was near 89% of total imports in 2022. Poland (X tons) and Ukraine (X tons) took a little share of total imports.

Imports into Russia decreased at an average annual rate of -5.5% from 2012 to 2022. At the same time, Poland (+6.7%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +6.7% from 2012-2022. By contrast, Ukraine (-21.6%) illustrated a downward trend over the same period. Russia (+15 p.p.) and Poland (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Ukraine saw its share reduced by -14.3% from 2012 to 2022, respectively.

In value terms, Russia ($X) constitutes the largest market for imported tungsten in Eastern Europe, comprising 76% of total imports. The second position in the ranking was held by Ukraine ($X), with a 7.4% share of total imports.

In Russia, tungsten imports decreased by an average annual rate of -9.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ukraine (-18.5% per year) and Poland (+1.2% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, falling by -3.6% against the previous year. Over the period under review, the import price recorded a pronounced downturn. The most prominent rate of growth was recorded in 2018 an increase of 29% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ukraine ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+4.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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