Scandinavia: Tungsten Market 2024

Tungsten Market Size in Scandinavia

The Scandinavia tungsten market contracted markedly to $X in 2022, waning by X% against the previous year. Over the period under review, consumption faced a deep reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tungsten Production in Scandinavia

In value terms, tungsten production fell to $X in 2022 estimated in export price. In general, production, however, showed a pronounced reduction. The growth pace was the most rapid in 2016 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Tungsten Exports

Exports in Scandinavia

For the third year in a row, Scandinavia recorded growth in shipments abroad of tungsten, which increased by X% to X kg in 2022. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, tungsten exports surged to $X in 2022. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Sweden (X kg) was the key exporter of tungsten, creating X% of total exports. It was distantly followed by Finland (X kg), mixing up a X% share of total exports. Norway (X kg) followed a long way behind the leaders.

Exports from Sweden increased at an average annual rate of X% from 2012 to 2022. At the same time, Finland (X%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of X% from 2012-2022. Norway experienced a relatively flat trend pattern. Finland (X p.p.) and Norway (X p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Sweden ($X) remains the largest tungsten supplier in Scandinavia, comprising X% of total exports. The second position in the ranking was held by Finland ($X), with a X% share of total exports.

In Sweden, tungsten exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Finland (X% per year) and Norway (X% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price recorded a pronounced contraction. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Norway ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (X%), while the other leaders experienced a decline in the export price figures.

Tungsten Imports

Imports in Scandinavia

After two years of growth, overseas purchases of tungsten decreased by X% to X tons in 2022. Over the period under review, imports faced a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, tungsten imports dropped remarkably to $X in 2022. Overall, imports recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then fell rapidly in the following year.

Imports by Country

Sweden was the largest importer of tungsten in Scandinavia, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. Finland (X kg) ranks second in terms of the total imports with an X% share, followed by Norway (X%).

Imports into Sweden decreased at an average annual rate of X% from 2012 to 2022. At the same time, Finland (X%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of X% from 2012-2022. By contrast, Norway (X%) illustrated a downward trend over the same period. Finland (X p.p.) significantly strengthened its position in terms of the total imports, while Sweden and Norway saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported tungsten in Scandinavia, comprising X% of total imports. The second position in the ranking was held by Norway ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Sweden totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Norway (X% per year) and Finland (X% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2019 an increase of X%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sweden ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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