Report Update Nov 1, 2024

Turkey - Tungsten - Market Analysis, Forecast, Size, Trends and Insights

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Turkey: Tungsten Market 2024

Tungsten Market Size in Turkey

The Turkish tungsten market skyrocketed to $X in 2022, growing by 52% against the previous year. Overall, consumption enjoyed a remarkable increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Tungsten Production in Turkey

In value terms, tungsten production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2013 when the production volume increased by 23%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Tungsten Exports

Exports from Turkey

Tungsten exports from Turkey contracted significantly to X kg in 2022, waning by -90% compared with the year before. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 469%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted dramatically in the following year.

In value terms, tungsten exports contracted significantly to $X in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 441% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X kg) and Iran (X kg) were the main destinations of tungsten exports from Turkey.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of 0.0%).

In value terms, Russia ($X) emerged as the key foreign market for tungsten exports from Turkey, comprising 82% of total exports. The second position in the ranking was taken by Iran ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Russia was relatively modest.

Export Prices by Country

The average tungsten export price stood at $X per ton in 2022, picking up by 636% against the previous year. In general, the export price saw a notable expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Iran stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (-9.5%).

Tungsten Imports

Imports into Turkey

In 2022, purchases abroad of tungsten decreased by -10.2% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 426%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, tungsten imports dropped significantly to $X in 2022. Overall, imports, however, posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 287% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of tungsten to Turkey, with a 94% share of total imports. It was followed by Italy (X kg), with a 2% share of total imports. The United States (X kg) ranked third in terms of total imports with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +89.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+26.8% per year) and the United States (+17.3% per year).

In value terms, China ($X) constituted the largest supplier of tungsten to Turkey, comprising 81% of total imports. The second position in the ranking was held by the United States ($X), with an 8.3% share of total imports. It was followed by Italy, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +83.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+28.9% per year) and Italy (+24.7% per year).

Import Prices by Country

The average tungsten import price stood at $X per ton in 2022, with a decrease of -7.4% against the previous year. Overall, the import price recorded a abrupt decline. The pace of growth appeared the most rapid in 2018 when the average import price increased by 25%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Germany ($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 United States (+9.9%), while the prices for the other major suppliers experienced a decline.

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, accounting for 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 constituted the country with the largest volume of tungsten production, 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 Turkey?

In value terms, China constituted the largest supplier of tungsten to Turkey, comprising 64% of total imports. The second position in the ranking was occupied by Germany, with an 8% share of total imports. It was followed by the Netherlands, with a 7.6% share.

What are the leading importers of tungsten from Turkey?

In value terms, New Zealand remains the key foreign market for tungsten exports from Turkey.

What is the average export price for tungsten in Turkey?

In 2021, the average tungsten export price amounted to $797,286 per ton, with an increase of 43% against the previous year.

What is the average import price for tungsten in Turkey?

The average tungsten import price stood at $98,778 per ton in 2021, jumping by 86% against the previous year.

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

Turkey

Data coverage:

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