Report Update Nov 1, 2024

Northern America - Tungsten - Market Analysis, Forecast, Size, Trends and Insights

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Northern America: Tungsten Market 2024

Tungsten Market Size in Northern America

In 2022, the North American tungsten market increased by 21% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, recorded a abrupt shrinkage. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Tungsten Production in Northern America

In value terms, tungsten production declined modestly to $X in 2022 estimated in export price. Overall, production, however, showed a deep reduction. The growth pace was the most rapid in 2016 when the production volume increased by 11% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Tungsten Exports

Exports in Northern America

In 2022, the amount of tungsten exported in Northern America soared to X tons, jumping by 38% compared with the previous year's figure. In general, exports, however, showed a sharp downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 76%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, tungsten exports skyrocketed to $X in 2022. Overall, exports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2016 when exports increased by 129%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada was the major exporter of tungsten in Northern America, with the volume of exports recording X tons, which was approx. 71% of total exports in 2022. It was distantly followed by the United States (X tons), comprising a 29% share of total exports.

Canada was also the fastest-growing in terms of the tungsten exports, with a CAGR of +21.2% from 2012 to 2022. The United States (-30.6%) illustrated a downward trend over the same period. Canada (+70 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -69.7% from 2012 to 2022, respectively.

In value terms, the largest tungsten supplying countries in Northern America were Canada ($X) and the United States ($X).

Canada, with a CAGR of +18.5%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, surging by 5.9% against the previous year. In general, the export price recorded significant growth. The most prominent rate of growth was recorded in 2021 an increase of 148% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

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 United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+32.4%).

Tungsten Imports

Imports in Northern America

In 2022, purchases abroad of tungsten was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a perceptible slump. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, tungsten imports skyrocketed to $X in 2022. Overall, imports, however, showed a perceptible setback. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United States represented the major importing country with an import of around X tons, which amounted to 87% of total imports. It was distantly followed by Canada (X tons), achieving a 13% share of total imports.

The United States was also the fastest-growing in terms of the tungsten imports, with a CAGR of -4.0% from 2012 to 2022. Canada (-5.5%) illustrated a downward trend over the same period. While the share of the United States (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Canada (-1.8 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported tungsten in Northern America, comprising 83% of total imports. The second position in the ranking was taken by Canada ($X), with a 17% share of total imports.

In the United States, tungsten imports contracted by an average annual rate of -3.8% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, increasing by 3.2% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 34%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.2%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tungsten in Northern America?

The country with the largest volume of tungsten consumption was Canada, accounting for 92% of total volume. Moreover, tungsten consumption in Canada exceeded the figures recorded by the second-largest consumer, the United States, more than tenfold.

What are the largest producers of tungsten in Northern America?

The country with the largest volume of tungsten production was Canada, accounting for 88% of total volume. Moreover, tungsten production in Canada exceeded the figures recorded by the second-largest producer, the United States, sevenfold.

What are the leading exporters of tungsten in Northern America?

In value terms, the United States remains the largest tungsten supplier in Northern America.

What are the leading importers of tungsten in Northern America?

In value terms, the United States constitutes the largest market for imported tungsten in Northern America, comprising 71% of total imports. The second position in the ranking was occupied by Canada, with a 29% share of total imports.

What is the average export price for tungsten in Northern America?

In 2021, the export price in Northern America amounted to $20,734 per ton, growing by 4.9% against the previous year.

What is the average import price for tungsten in Northern America?

The import price in Northern America stood at $50,915 per ton in 2021, increasing by 19% against the previous year.

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

Bermuda
Canada
Greenland
Saint Pierre and Miquelon
United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Northern America, split by region and country
Trade (exports and imports) in Northern America
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. CONSUMPTION BY COUNTRY
3. 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
2. PRODUCTION BY COUNTRY
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. 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. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Bermuda
- Canada
- Greenland
- Saint Pierre and Miquelon
- United States
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
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