Report Update Nov 1, 2024

South Africa - Tungsten - Market Analysis, Forecast, Size, Trends and Insights

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South Africa: Tungsten Market 2024

Tungsten Market Size in South Africa

The South African tungsten market stood at $X in 2022, standing approx. at the previous year. Over the period under review, consumption continues to indicate a significant increase. Tungsten consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Tungsten Production in South Africa

In value terms, tungsten production fell slightly to $X in 2022 estimated in export price. In general, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +0.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 65% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Tungsten Exports

Exports from South Africa

After two years of decline, shipments abroad of tungsten increased by 13% to X kg in 2022. In general, exports, however, saw a precipitous curtailment. The pace of growth appeared the most rapid in 2019 when exports increased by 601% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, tungsten exports contracted rapidly to $X in 2022. Over the period under review, exports, however, recorded a sharp slump. The pace of growth was the most pronounced in 2019 when exports increased by 194% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Zimbabwe (X kg) was the main destination for tungsten exports from South Africa, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Zimbabwe totaled +45.5%.

In value terms, Zimbabwe ($X) emerged as the key foreign market for tungsten exports from South Africa.

From 2012 to 2022, the average annual rate of growth in terms of value to Zimbabwe totaled +57.0%.

Export Prices by Country

The average tungsten export price stood at $X per ton in 2022, shrinking by -73.9% against the previous year. Over the period under review, the export price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2018 an increase of 261%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Democratic Republic of the Congo amounted to +16.2% per year.

Tungsten Imports

Imports into South Africa

In 2022, after three years of decline, there was significant growth in supplies from abroad of tungsten, when their volume increased by 32% to X kg. Overall, imports, however, faced a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 224% against the previous year. As a result, imports reached the peak of X kg. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, tungsten imports surged to $X in 2022. In general, imports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2018 when imports increased by 197%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

India (X kg), China (X kg) and the United States (X kg) were the main suppliers of tungsten imports to South Africa, together comprising 82% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of 0.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tungsten suppliers to South Africa were Israel ($X), India ($X) and China ($X), with a combined 86% share of total imports.

Israel, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tungsten import price amounted to $X per ton, surging by 58% against the previous year. Over the period under review, the import price recorded a prominent increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+28.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tungsten in the world?

The country with the largest volume of tungsten consumption was China, 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, comprising approx. 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 South Africa?

In value terms, the UK, the United States and Germany constituted the largest tungsten suppliers to South Africa, with a combined 91% share of total imports.

What is the average export price for tungsten in South Africa?

The average tungsten export price stood at $35,538 per ton in 2020, remaining constant against the previous year.

What is the average import price for tungsten in South Africa?

In 2021, the average tungsten import price amounted to $91,938 per ton, waning by -17% against the previous year.

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

South Africa

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in South Africa
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