In 2023, the UK imported approximately 160.0 thousand kilograms of tungsten (wolfram) powder. The forecast from 2024 to 2028 shows a declining trend in imports: 145.9 in 2024, 128.39 in 2025, 111.23 in 2026, 94.4 in 2027, and 77.92 by 2028. The annual reduction from 2023 is noteworthy, reflecting an average annual decline (CAGR) of approximately 12.1% over five years.
Future trends to watch for include:
- Global demand shifts, potentially influenced by industrial and technological advancements that may use tungsten efficiently reducing imports.
- Potential disruptions in supply chains or geopolitical tensions affecting the global tungsten market.
