Report Update Nov 1, 2024

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

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Venezuela: Tungsten Market 2024

Tungsten Market Size in Venezuela

In 2022, after two years of growth, there was significant decline in the Venezuelan tungsten market, when its value decreased by -31.5% to $X. In general, consumption saw a precipitous curtailment. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Tungsten Production in Venezuela

In value terms, tungsten production expanded modestly to $X in 2022 estimated in export price. Overall, production recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 23% against the previous year. Tungsten production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Tungsten Exports

Exports from Venezuela

Tungsten exports from Venezuela dropped significantly to X kg in 2014, declining by -18.9% compared with the previous year's figure. In general, exports recorded a abrupt descent. The exports peaked at X kg in 2013, and then dropped markedly in the following year.

In value terms, tungsten exports shrank to $X in 2014. Over the period under review, exports showed a noticeable contraction. The exports peaked at $X in 2013, and then contracted slightly in the following year.

Exports by Country

El Salvador (X kg) was the main destination for tungsten exports from Venezuela, accounting for a approx. 100% share of total exports.

From 2013 to 2014, the average annual rate of growth in terms of volume to El Salvador totaled -18.9%.

In value terms, El Salvador ($X) also remains the key foreign market for tungsten exports from Venezuela.

From 2013 to 2014, the average annual growth rate of value to El Salvador amounted to -3.2%.

Export Prices by Country

In 2014, the average tungsten export price amounted to $X per ton, jumping by 19% against the previous year. Over the period from 2013 to 2014, it increased at an average annual rate of +19.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2013 to 2014, the rate of growth in terms of prices for El Salvador amounted to +19.4% per year.

Tungsten Imports

Imports into Venezuela

In 2022, approx. X kg of tungsten were imported into Venezuela; dropping by -38.1% on the previous year. Over the period under review, imports showed a sharp shrinkage. The growth pace was the most rapid in 2021 with an increase of 200%. Over the period under review, imports attained the peak figure at X kg in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, tungsten imports shrank sharply to $X in 2022. Overall, imports recorded a sharp slump. The pace of growth appeared the most rapid in 2021 with an increase of 268% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X kg) was the main tungsten supplier to Venezuela, accounting for a 92% share of total imports. Moreover, tungsten imports from the United States exceeded the figures recorded by the second-largest supplier, Italy (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at -18.5%.

In value terms, the United States ($X) constituted the largest supplier of tungsten to Venezuela, comprising 99% of total imports. The second position in the ranking was taken by Italy ($X), with a 1.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at -20.0%.

Import Prices by Country

The average tungsten import price stood at $X per ton in 2022, picking up by 2.5% against the previous year. Overall, the import price, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 32%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Italy 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 (-1.8%).

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, 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, 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 Venezuela?

In value terms, the United States $536) constituted the largest supplier of tungsten to Venezuela, comprising 87% of total imports. The second position in the ranking was occupied by Italy $80), with a 13% share of total imports.

What are the leading importers of tungsten from Venezuela?

In value terms, El Salvador remains the key foreign market for tungsten exports from Venezuela.

What is the average export price for tungsten in Venezuela?

In 2014, the average tungsten export price amounted to $248,700 per ton, surging by 19% against the previous year.

What is the average import price for tungsten in Venezuela?

In 2021, the average tungsten import price amounted to $30,800 per ton, almost unchanged from the previous year.

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

Venezuela

Data coverage:

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