World - Magnesium - Market Analysis, Forecast, Size, Trends And Insights
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World - Magnesium - Market Analysis, Forecast, Size, Trends And Insights
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Article Publishing Date: Oct 27, 2021

Approaching Magnesium Deficiency Threatens to Disrupt the European Auto Industry

IndexBox has just published a new report: 'World - Magnesium - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

Limiting industrial carbon dioxide emissions in China has halted work in two-thirds of Shaanxi's fifty magnesium plants, while the rest of the factories will be required to halve production. As a result, in the next six months, the global market may face a deficit, hitting the European automotive industry particularly hard. The German Non-Ferrous Metals Association (WVM) calls on the German government to begin negotiations with China to increase magnesium supplies to Europe.

Key Trends and Insights

Over the next six months, a deficit is expected in the world magnesium market. China, the primary supplier of magnesium, is cutting production in order to reduce greenhouse emissions as part of a comprehensive program to reduce energy consumption. According to IndexBox estimates, China accounts for 87% of world production and 81% of the total exports, so a marked reduction in supply in the country will be a shock to the global market.

In the Shaanxi Province, a critical magnesium-producing region in China, 35 of the 50 magnesium plants have been shut down to date. The rest of the factories were forced to cut production in half to save energy. In September of this year, the Yulin Municipal Development and Reform Commission (Shaanxi Province) introduced restrictions that require businesses to suspend or reduce production intensity by 50-60%, depending on the level of energy consumption of the company and the amount of its carbon dioxide emissions.

The world market reacted to the introduction of restrictive measures in China with a jump in prices. European average magnesium prices surpassed the $4,500 per tonne mark in early September, a peak since 2008, while back in June, they were at $2,800 per tonne (according to IndexBox estimates).

The automotive industry, consuming 35% of magnesium produced worldwide, could suffer from the metal shortage. The European market is almost entirely dependent on Chinese supplies, which cover 95% of the total demand for the metal since there is no domestic production within the EU. It is expected that the current reserves of magnesium in Europe, and Germany in particular, a key importer of this metal, will be exhausted by November 2021.

A cross-industry group of associations issued an urgent call for action against the imminent risk of European production shutdowns due to a possible suspension of supply chains. This letter has been signed by European Aluminium, Eurometaux, Eurofer, ECCA, IMA, ESTAL, Metals Packaging Europe, CLEPA, EuroAlliages, EUWA, and the European Automobile Manufacturers' Association (ACEA), representing the 15 major Europe-based automobile manufacturers including BMW, Toyota, Volkswagen, Honda, Hyundai and Ferrari. Earlier, the German Non-Ferrous Metals Association (WVM) has sent a similar letter to the German government calling for negotiations with China to increase magnesium supplies to the EU.

Global Magnesium Production

Global magnesium production dropped to 1M tonnes in 2020, with a decrease of -7.5% on the previous year. In value terms, magnesium production declined from $3B in 2019 to $2.8B in 2020 estimated in export prices.

China (900K tonnes) constituted the country with the largest volume of magnesium production, comprising approx. 87% of total volume. Moreover, magnesium production in China exceeded the figures recorded by the second-largest producer, Russia (60K tonnes), more than tenfold. The third position in this ranking was occupied by Brazil (20K tonnes), with a 1.9% share.

Global Magnesium Exports

Global magnesium exports fell to 385K tonnes in 2020, waning by -9.8% against the previous year. In value terms, magnesium exports shrank from $1.2B in 2019 to $1.1B in 2020.

China prevails in magnesium export structure, recording 311K tonnes, which was approx. 81% of total exports in 2020. The U.S. (11K tonnes), Turkey (9.4K tonnes), Germany (9.3K tonnes), the Czech Republic (6.7K tonnes), Russia (6.7K tonnes) and Taiwan (Chinese) (5.8K tonnes) took a little share of total exports.

In value terms, China ($759M) remains the largest magnesium supplier worldwide, comprising 72% of global exports. The second position in the ranking was occupied by Turkey ($39M), with a 3.7% share of global exports. It was followed by the U.S., with a 3.4% share.

In 2020, the value of supplies from China and the U.S. dropped by -15.6% y-o-y and -15.3% y-o-y, respectively. By contrast, Turkey increased exports in value terms twofold.

In 2020, the average magnesium export price amounted to $2,747 per tonne, waning by -3.8% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was Turkey ($4,110 per tonne), while China ($2,442 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Russia, while the other global leaders experienced more modest paces of growth.

World's Largest Magnesium Importers

The purchases of the twelve major importers of magnesium, namely Canada, Germany, the U.S., Japan, South Korea, India, Taiwan (Chinese), Norway, France, Austria, Romania and Russia, represented more than two-thirds of total import. Mexico (8.6K tonnes) held a minor share of total imports.

In value terms, the largest magnesium importing markets worldwide were the U.S. ($156M), Canada ($92M) and Germany ($89M), with a combined 38% share of global imports.

Source: IndexBox Platform

This report provides an in-depth analysis of the global magnesium market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Product coverage:

Data coverage:
• Global market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Global production, split by region and country
• Global trade (exports and imports)
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Company coverage:
Advanced Magnesium Alloys Corp. (Anderson, IN), MagPro LLC, Meridian Magnesium Products Co., Nevada Clean Magnesium Inc., Latrobe Magnesium Ltd., Alliance Magnesium Inc., West High Yield Resources Inc., Mag One Products Inc., Drinkard Metalox Inc., Century Sunshine Group Holdings Ltd., Qinghai Salt Lake Magnesium Co. Ltd., Esan Eczacıbası Endustriyel Hammaddeler San. ve Tic. A.S, Magnesium Elektron Ltd., Allite Inc., Belmont Metals Inc., CRS Chemicals (a division of C.R. Supply Co.), ProChem Inc., Chemical Store Inc., EdgeTech Industries LLC, Optima Chemical Group LLC, Magnesium Products Inc

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

United States
China
Japan
Germany
United Kingdom
France
Brazil
Italy
Russian Federation
India
Canada
Australia
Republic of Korea
Spain
Mexico
Indonesia
Netherlands
Turkey
Saudi Arabia
Switzerland
Sweden
Nigeria
Poland
Belgium
Argentina
Norway
Austria
Thailand
United Arab Emirates
Colombia
Denmark
South Africa
Malaysia
Israel
Singapore
Egypt
Philippines
Finland
Chile
Ireland
Pakistan
Greece
Portugal
Kazakhstan
Algeria
Czech Republic
Qatar
Peru
Romania
Vietnam
LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2007–2021
Table 3:
Market Value, 2007–2021
Table 4:
Per Capita Consumption, By Country, 2018–2021
Table 5:
Production, In Physical Terms, By Country, 2007–2021
Table 6:
Imports, In Physical Terms, By Country, 2007–2021
Table 7:
Imports, In Value Terms, By Country, 2007–2021
Table 8:
Import Prices, By Country Of Destination, 2007–2021
Table 9:
Exports, In Physical Terms, By Country, 2007–2021
Table 10:
Exports, In Value Terms, By Country, 2007–2021
Table 11:
Export Prices, By Country Of Origin, 2007–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2021
Figure 2:
Market Value, 2007–2021
Figure 3:
Consumption, By Country, 2021
Figure 4:
Market Forecast To 2030
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2007–2021
Figure 17:
Production, In Value Terms, 2007–2021
Figure 18:
Production, By Country, 2021
Figure 19:
Production, In Physical Terms, By Country, 2007–2021
Figure 20:
Imports, In Physical Terms, 2007–2021
Figure 21:
Imports, In Value Terms, 2007–2021
Figure 22:
Imports, In Physical Terms, By Country, 2021
Figure 23:
Imports, In Physical Terms, By Country, 2007–2021
Figure 24:
Imports, In Value Terms, By Country, 2007–2021
Figure 25:
Import Prices, By Country, 2007–2021
Figure 26:
Exports, In Physical Terms, 2007–2021
Figure 27:
Exports, In Value Terms, 2007–2021
Figure 28:
Exports, In Physical Terms, By Country, 2021
Figure 29:
Exports, In Physical Terms, By Country, 2007–2021
Figure 30:
Exports, In Value Terms, By Country, 2007–2021
Figure 31:
Export Prices, 2007–2021
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