Belgium: Magnesium Market 2024

Magnesium Market Size in Belgium

The Belgian magnesium market skyrocketed to $X in 2022, growing by X% against the previous year. In general, consumption, however, posted a significant increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Magnesium Production in Belgium

In value terms, magnesium production stood at $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. Over the period under review, production hit record highs in 2022 and is likely to continue growth in the immediate term.

Magnesium Exports

Exports from Belgium

In 2022, overseas shipments of magnesium increased by X% to X tons, rising for the fifth year in a row after five years of decline. Overall, exports enjoyed a pronounced increase. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, magnesium exports soared to $X in 2022. Over the period under review, exports recorded a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons) was the main destination for magnesium exports from Belgium, accounting for a X% share of total exports. Moreover, magnesium exports to Germany exceeded the volume sent to the second major destination, France (X tons), threefold. The Czech Republic (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and the Czech Republic (X% per year).

In value terms, Germany ($X) remains the key foreign market for magnesium exports from Belgium, comprising X% of total exports. The second position in the ranking was held by France ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average magnesium export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, magnesium export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Magnesium Imports

Imports into Belgium

In 2022, after three years of growth, there was decline in purchases abroad of magnesium, when their volume decreased by X% to X tons. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then shrank slightly in the following year.

In value terms, magnesium imports soared to $X in 2022. Over the period under review, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

The Netherlands (X tons), Israel (X tons) and Turkey (X tons) were the main suppliers of magnesium imports to Belgium, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest magnesium suppliers to Belgium were Turkey ($X), Israel ($X) and China ($X), with a combined X% share of total imports.

Among the main suppliers, Turkey, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average magnesium import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price enjoyed a tangible expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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