Switzerland: Tungsten Market 2024

Tungsten Market Size in Switzerland

In 2022, the Swiss tungsten market decreased by -4% to $X, falling for the third year in a row after two years of growth. In general, consumption, however, saw a buoyant increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Tungsten Production in Switzerland

In value terms, tungsten production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 -2.0% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 29% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Tungsten Exports

Exports from Switzerland

After four years of decline, shipments abroad of tungsten increased by 1.7% to X tons in 2022. Over the period under review, exports, however, faced a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of 63% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, tungsten exports totaled $X in 2022. Overall, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 113%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Italy (X tons) and Belgium (X kg) were the main destinations of tungsten exports from Switzerland, with a combined 97% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +89.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) remains the key foreign market for tungsten exports from Switzerland, comprising 62% of total exports. The second position in the ranking was taken by Italy ($X), with a 26% share of total exports. It was followed by Belgium, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-12.0% per year) and Belgium (+90.1% per year).

Export Prices by Country

In 2022, the average tungsten export price amounted to $X per ton, remaining stable against the previous year. In general, the export price, however, showed a resilient increase. The growth pace was the most rapid in 2015 when the average export price increased by 31%. The export price peaked at $X per ton in 2021, and then contracted slightly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Hungary ($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 Italy (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Tungsten Imports

Imports into Switzerland

For the fourth year in a row, Switzerland recorded decline in overseas purchases of tungsten, which decreased by -36.8% to X tons in 2022. In general, imports recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 when imports increased by 96% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, tungsten imports contracted dramatically to $X in 2022. Overall, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 89%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United States (X kg), Germany (X kg) and China (X kg) were the main suppliers of tungsten imports to Switzerland, together accounting for 82% of total imports.

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 +61.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and the UK ($X) were the largest tungsten suppliers to Switzerland, with a combined 85% share of total imports.

The United States, with a CAGR of +43.5%, saw the highest growth rate of 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, with an increase of 21% against the previous year. Overall, the import price, however, recorded a deep setback. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 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 the UK ($X per ton), while the price for China ($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 (-1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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