Key Market Indicators
Korean imports and exports of tungsten are expected to grow modestly over the coming five years. In 2021, the country imported $50.7 million worth of tungsten and exported $33.3 million. This is expected to increase to $55 million and $34 million, respectively, by 2026. Since 1993, Korean demand for tungsten has grown at an average of 5.4% each year, while supply has grown at a rate of 9.6%. In 2021, the country ranked sixth in tungsten imports, with the United Kingdom overtaking them at $50.7 million. Germany, Japan, and Austria followed as the second, third, and fourth largest importers respectively. In terms of exports, the Czech Republic overtook Korea at $33.3 million. Germany, the United States, and Japan then came in second, third, and fourth.