MENA: Tungsten Market 2025

Tungsten Market Size in MENA

In 2022, the MENA's tungsten market increased by 7.7% to $X, rising for the third year in a row after three years of decline. Over the period under review, consumption saw a pronounced downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Tungsten Production in MENA

In value terms, tungsten production contracted to $X in 2022 estimated in export price. In general, production, however, showed a noticeable expansion. The pace of growth was the most pronounced in 2016 when the production volume increased by 95%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Tungsten Exports

Exports in MENA

For the third year in a row, MENA recorded decline in shipments abroad of tungsten, which decreased by -23% to X tons in 2022. In general, exports, however, continue to indicate moderate growth. The most prominent rate of growth was recorded in 2014 when exports increased by 156% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, tungsten exports surged to $X in 2022. Over the period under review, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 113%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Israel was the main exporter of tungsten in MENA, with the volume of exports reaching X tons, which was approx. 60% of total exports in 2022. The United Arab Emirates (X kg) held the second position in the ranking, distantly followed by Turkey (X kg). All these countries together held approx. 40% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Turkey (with a CAGR of +36.6%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Israel ($X) remains the largest tungsten supplier in MENA, comprising 70% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 16% share of total exports.

In Israel, tungsten exports increased at an average annual rate of +4.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+22.4% per year) and Turkey (+42.4% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, growing by 100% against the previous year. Overall, the export price recorded notable growth. The pace of growth appeared the most rapid in 2015 when the export price increased by 182% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+4.8%), while the other leaders experienced mixed trends in the export price figures.

Tungsten Imports

Imports in MENA

After three years of growth, purchases abroad of tungsten decreased by -41.1% to X tons in 2022. In general, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of 82% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, tungsten imports declined to $X in 2022. Overall, imports continue to indicate a abrupt descent. The growth pace was the most rapid in 2017 with an increase of 86%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of tungsten imports in 2022 were Turkey (X tons), Saudi Arabia (X tons) and Israel (X tons), together recording 93% of total import. Algeria (X kg) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Turkey (with a CAGR of +35.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tungsten importing markets in MENA were Turkey ($X), Israel ($X) and Saudi Arabia ($X), together accounting for 92% of total imports.

Turkey, with a CAGR of +20.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, with an increase of 51% against the previous year. Overall, the import price, however, continues to indicate a perceptible curtailment. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform