The forecast for the import of tungsten ores and concentrates to the US shows a consistent decline from 2024 to 2028. In 2023, the volume stood at around 3.35 million kilograms. Compared to this baseline, the 2024 import forecast marks a minor decrease of approximately 3%. Over the subsequent years, the imports are expected to reduce progressively at a steady pace, with a Compound Annual Growth Rate (CAGR) suggesting an average annual decrease of around 3.7% over the five-year period ending in 2028.
Future trends to watch for include:
- Supply chain challenges affecting sourcing and import levels.
- Variations in global tungsten demand due to technological advancements.
- US domestic policy shifts impacting trade agreements.
- Innovation in sustainable and alternative materials reducing dependence on tungsten.
