The import value of tungsten to Canada is projected to gradually increase from 2024 to 2028, starting at 21.461 million USD and reaching 22.55 million USD. This progression indicates a modest year-on-year growth rate, averaging around a 1.5% increase annually. In 2023, the import value was below 21.461 million USD, marking the starting point for the upward trend over the forecast period.

Future trends to watch for include:

Global demand for tungsten, driven by its applications in technology and defense.
Potential impacts of trade policies and tariffs on import costs.
Technological innovations that could alternatively reduce tungsten demand.