World - Magnesium - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact
Global Magnesium Production Drops 5% Due to Environmental Issues in China
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.
Global magnesium production decreased from 1M tonnes in 2020 to 950K tonnes in 2021 due to lower output in China. Environmental regulations and power shortages led to a reduction in China's magnesium production.
China remains the largest magnesium producing country worldwide, comprising approx. 86% of total volume. Moreover, magnesium production in China exceeded the figures recorded by the second-largest producer, Russia, more than tenfold. The third position in this ranking was occupied by Kazakhstan, with a 2.1% share.
In 2021, the amount of magnesium exported worldwide surged to 523K tonnes, with an increase of 17% against 2020 figures. The total export volume increased at an average annual rate of +2.8% from 2011 to 2021.
In value terms, supplies surged to $1.6B in 2021. The total export value increased at an average annual rate of +1.9% over the period from 2011 to 2021.
Exports by Country
In 2021, China (305K tonnes) represented the largest exporter of magnesium, comprising 58% of total exports. It was distantly followed by Israel (73K tonnes) and the Netherlands (66K tonnes), together constituting a 27% share of total supplies. The following exporters - the Czech Republic (12K tonnes) and Germany (9K tonnes) - each recorded a 3.9% share of total volume.
In value terms, China ($1B) remains the largest magnesium supplier worldwide, comprising 64% of global exports. The second position in the ranking was occupied by the Netherlands ($195M), with a 12% share of the total value. It was followed by Israel, with a 4.4% share.
From 2011 to 2021, the average annual rate of growth in terms of value in China stood at +1.4%. In the other countries, the average annual rates were as follows: the Netherlands (+27.8% per year) and Israel (-4.6% per year).
Export Prices by Country
In 2021, the average magnesium export price amounted to $3,018 per tonne, growing by 17% against the previous year. There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Germany, while Israel was amongst the lowest.
Leading Magnesium Importers
In 2021, the Netherlands (90K tonnes), distantly followed by Canada (51K tonnes), Germany (38K tonnes) and Japan (31K tonnes) were the largest importers of magnesium, together mixing up 40% of total imports. The U.S. (23K tonnes), India (22K tonnes), South Korea (20K tonnes), Turkey (19K tonnes), Norway (15K tonnes), Italy (15K tonnes), Romania (14K tonnes), Taiwan (Chinese) (13K tonnes) and France (12K tonnes) held a relatively small share of total volume.
In value terms, the largest magnesium importing markets worldwide were the Netherlands ($246M), Canada ($154M) and Japan ($138M), together comprising 34% of global purchases.
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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, January 25th, 2022 @ 04:00 pm ET
Join our live webinar to get insights into the global graphite market.
Tuesday, May 18th, 2021 @ 04:00 pm ET
Join our live webinar to get insights into cooling innovations in the oil and gas industry.
Monday, November 2nd, 2020 @ 04:00 pm ET