Italy: Tungsten Market 2024

Tungsten Market Size in Italy

In 2022, the Italian tungsten market increased by 31% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, saw a deep slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Tungsten Production in Italy

In value terms, tungsten production stood at $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with a decrease of 99.9% against the previous year. Tungsten production peaked in 2022 and is expected to retain growth in the immediate term.

Tungsten Exports

Exports from Italy

In 2022, exports of tungsten from Italy reduced dramatically to X tons, falling by -70.6% compared with the previous year. Over the period under review, exports faced a abrupt decrease. The pace of growth was the most pronounced in 2021 when exports increased by 373% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tungsten exports shrank rapidly to $X in 2022. Overall, exports saw a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 100% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

France (X kg), Egypt (X kg) and China (X kg) were the main destinations of tungsten exports from Italy, with a combined 76% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +100.0%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), the UK ($X) and Egypt ($X) were the largest markets for tungsten exported from Italy worldwide, with a combined 49% share of total exports. Kazakhstan, China, Turkey, Portugal and Poland lagged somewhat behind, together accounting for a further 30%.

In terms of the main countries of destination, Kazakhstan, with a CAGR of +24.3%, 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

The average tungsten export price stood at $X per ton in 2022, jumping by 64% against the previous year. In general, the export price continues to indicate strong growth. The pace of growth was the most pronounced in 2019 when the average export price increased by 81% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Tungsten Imports

Imports into Italy

In 2022, tungsten imports into Italy shrank dramatically to X tons, with a decrease of -21.6% against 2021 figures. In general, imports saw a abrupt decrease. The growth pace was the most rapid in 2021 when imports increased by 128% against the previous year. 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 to $X in 2022. Over the period under review, imports showed a abrupt setback. The growth pace was the most rapid in 2021 with an increase of 78%. 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 UK (X tons), China (X tons) and Germany (X tons) were the main suppliers of tungsten imports to Italy, with a combined 88% share of total imports. The Netherlands, India, Japan and Switzerland lagged somewhat behind, together comprising a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +239.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), China ($X) and the Netherlands ($X) were the largest tungsten suppliers to Italy, with a combined 84% share of total imports. Germany, Japan, India and Switzerland lagged somewhat behind, together comprising a further 13%.

Among the main suppliers, Japan, with a CAGR of +155.0%, 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 more modest paces of growth.

Import Prices by Country

The average tungsten import price stood at $X per ton in 2022, picking up by 16% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tungsten import price decreased by -9.6% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 56%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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