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Report GCC - Tungsten - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

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

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GCC: Tungsten Market 2024

Tungsten Market Size in GCC

After four years of growth, the GCC tungsten market decreased by -8.7% to $X in 2022. Over the period under review, consumption recorded a perceptible setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Tungsten Production in GCC

In value terms, tungsten production totaled $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible descent. The pace of growth appeared the most rapid in 2014 when the production volume increased by 81% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Tungsten Exports

Exports in GCC

In 2022, overseas shipments of tungsten were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 1,236% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, tungsten exports declined dramatically to $X in 2022. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 422%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of tungsten, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates was also the fastest-growing in terms of the tungsten exports, with a CAGR of +29.3% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest tungsten supplier in GCC.

In the United Arab Emirates, tungsten exports increased at an average annual rate of +22.4% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, with a decrease of -29.9% against the previous year. Overall, the export price continues to indicate a abrupt downturn. The growth pace was the most rapid in 2015 an increase of 738%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -5.4% per year.

Tungsten Imports

Imports in GCC

In 2022, after four years of growth, there was significant decline in overseas purchases of tungsten, when their volume decreased by -67.3% to X tons. Overall, imports, however, posted a temperate increase. The pace of growth appeared the most rapid in 2021 with an increase of 561% against the previous year. As a result, imports attained the peak of X tons, and then shrank notably in the following year.

In value terms, tungsten imports contracted sharply to $X in 2022. Over the period under review, imports, however, recorded a mild increase. The most prominent rate of growth was recorded in 2018 with an increase of 107% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

The countries with the highest levels of tungsten imports in 2022 were Saudi Arabia (X tons), together recording 98% of total import.

Saudi Arabia was also the fastest-growing in terms of the tungsten imports, with a CAGR of +5.0% from 2012 to 2022. From 2012 to 2022, the share of Saudi Arabia increased by +2.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported tungsten in GCC.

In Saudi Arabia, tungsten imports expanded at an average annual rate of +1.1% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, increasing by 116% against the previous year. In general, the import price, however, continues to indicate a perceptible downturn. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Saudi Arabia.

From 2012 to 2022, the rate of growth in terms of prices for Saudi Arabia amounted to -3.7% per year.

Source: IndexBox Platform

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

    Data coverage:

    • Market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Production in GCC, split by region and country
    • Trade (exports and imports) in GCC
    • 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:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. 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. 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. 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. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. CONSUMPTION BY COUNTRY
      3. MARKET FORECAST TO 2030

    4. 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. 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. 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. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
      2. PRODUCTION BY COUNTRY

    8. 8. IMPORTS

      The Largest Importers on The Market and How They Succeed

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. EXPORTS

      The Largest Exporters on The Market and How They Succeed

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. 11. COUNTRY PROFILES

      The Largest Markets And Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
      • Bahrain
      • Kuwait
      • Oman
      • Qatar
      • Saudi Arabia
      • United Arab Emirates

    12. 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, By Country, 2018–2023
      5. Production, In Physical Terms, By Country, 2012–2023
      6. Imports, In Physical Terms, By Country, 2012–2023
      7. Imports, In Value Terms, By Country, 2012–2023
      8. Import Prices, By Country Of Destination, 2012–2023
      9. Exports, In Physical Terms, By Country, 2012–2023
      10. Exports, In Value Terms, By Country, 2012–2023
      11. Export Prices, By Country Of Origin, 2012–2023

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Consumption, By Country, 2023
      4. Market Volume Forecast to 2030
      5. Market Value Forecast to 2030
      6. Products: Market Size And Growth, By Type
      7. Products: Average Per Capita Consumption, By Type
      8. Products: Exports And Growth, By Type
      9. Products: Export Prices And Growth, By Type
      10. Production Volume And Growth
      11. Exports And Growth
      12. Export Prices And Growth
      13. Market Size And Growth
      14. Per Capita Consumption
      15. Imports And Growth
      16. Import Prices
      17. Production, In Physical Terms, 2012–2023
      18. Production, In Value Terms, 2012–2023
      19. Production, By Country, 2023
      20. Production, In Physical Terms, By Country, 2012–2023
      21. Imports, In Physical Terms, 2012–2023
      22. Imports, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, By Country, 2023
      24. Imports, In Physical Terms, By Country, 2012–2023
      25. Imports, In Value Terms, By Country, 2012–2023
      26. Import Prices, By Country, 2012–2023
      27. Exports, In Physical Terms, 2012–2023
      28. Exports, In Value Terms, 2012–2023
      29. Exports, In Physical Terms, By Country, 2023
      30. Exports, In Physical Terms, By Country, 2012–2023
      31. Exports, In Value Terms, By Country, 2012–2023
      32. Export Prices, 2012–2023

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