Report Update Nov 1, 2024

Saudi Arabia - Tungsten - Market Analysis, Forecast, Size, Trends and Insights

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Saudi Arabia: Tungsten Market 2024

Tungsten Market Size in Saudi Arabia

In 2022, after four years of growth, there was significant decline in the Saudi tungsten market, when its value decreased by -24.8% to $X. Over the period under review, consumption, however, recorded a modest increase. Tungsten consumption peaked at $X in 2021, and then reduced sharply in the following year.

Tungsten Production in Saudi Arabia

In value terms, tungsten production fell modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -11.9% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by 41%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Tungsten Imports

Imports into Saudi Arabia

In 2022, after four years of growth, there was significant decline in overseas purchases of tungsten, when their volume decreased by -56.3% to X tons. In general, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 411%. As a result, imports reached the peak of X tons, and then fell notably in the following year.

In value terms, tungsten imports shrank markedly to $X in 2022. Over the period under review, imports, however, enjoyed modest growth. The most prominent rate of growth was recorded in 2021 with an increase of 102% against the previous year. As a result, imports attained the peak of $X, and then shrank remarkably in the following year.

Imports by Country

China (X tons) and the United States (X tons) were the main suppliers of tungsten imports to Saudi Arabia.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +402.9%).

In value terms, the largest tungsten suppliers to Saudi Arabia were China ($X) and the United States ($X).

In terms of the main suppliers, the United States, with a CAGR of +96.3%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2022, the average tungsten import price amounted to $X per ton, increasing by 71% against the previous year. Over the period under review, the import price, however, showed a perceptible decrease. Over the period under review, average import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tungsten in the world?

China remains the largest tungsten consuming country worldwide, comprising approx. 86% of total volume. It was followed by Russia, with a 2.5% share of total consumption.

What are the largest producers of tungsten in the world?

China remains the largest tungsten producing country worldwide, accounting for 88% of total volume. It was followed by Russia, with a 2.4% share of total production.

What are the leading suppliers of tungsten to Saudi Arabia?

In value terms, the United States constituted the largest supplier of tungsten to Saudi Arabia, comprising 69% of total imports. The second position in the ranking was occupied by China, with a 21% share of total imports. It was followed by India, with a 0.9% share.

What is the average import price for tungsten in Saudi Arabia?

The average tungsten import price stood at $48,185 per ton in 2021, reducing by -17.3% against the previous year.

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

Saudi Arabia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Saudi Arabia
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. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
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
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 In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023