Report Update Apr 1, 2024

Colombia - Magnesium - Market Analysis, Forecast, Size, Trends and Insights

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Colombia: Magnesium Market 2024

Magnesium Market Size in Colombia

In 2022, the Colombian magnesium market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption enjoyed a remarkable increase. Magnesium consumption peaked in 2022 and is likely to see gradual growth in years to come.

Magnesium Exports

Exports from Colombia

In 2022, overseas shipments of magnesium increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, saw a pronounced descent. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, magnesium exports surged to $X in 2022. Overall, exports, however, continue to indicate a perceptible curtailment. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Venezuela (X tons) was the main destination for magnesium exports from Colombia, with a X% share of total exports. Moreover, magnesium exports to Venezuela exceeded the volume sent to the second major destination, Ecuador (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Venezuela totaled X%.

In value terms, Venezuela ($X) remains the key foreign market for magnesium exports from Colombia, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Venezuela totaled X%.

Export Prices by Country

The average magnesium export price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Ecuador amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (X%).

Magnesium Imports

Imports into Colombia

In 2022, purchases abroad of magnesium increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, magnesium imports soared to $X in 2022. Over the period under review, imports posted a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, China (X tons) was the main supplier of magnesium to Colombia, accounting for a X% share of total imports. Moreover, magnesium imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%.

In value terms, China ($X) constituted the largest supplier of magnesium to Colombia, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%.

Import Prices by Country

The average magnesium import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price recorded resilient growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for magnesium in the world?

China remains the largest magnesium consuming country worldwide, comprising approx. 43% of total volume. Moreover, magnesium consumption in China exceeded the figures recorded by the second-largest consumer, the United States, sevenfold. Canada ranked third in terms of total consumption with a 6.2% share.

What are the largest producers of magnesium in the world?

The country with the largest volume of magnesium production was China, comprising approx. 83% 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 taken by Israel, with a 3% share.

What are the leading suppliers of magnesium to Colombia?

In value terms, China constituted the largest supplier of magnesium to Colombia, comprising 97% of total imports. The second position in the ranking was taken by the United States, with a 2.2% share of total imports.

What are the leading importers of magnesium from Colombia?

In value terms, Venezuela remains the key foreign market for magnesium exports from Colombia, comprising 95% of total exports. The second position in the ranking was taken by Ecuador $446), with a 4.6% share of total exports.

What is the average export price for magnesium in Colombia?

The average magnesium export price stood at $4,120 per ton in 2022, rising by 8% against the previous year.

What is the average import price for magnesium in Colombia?

The average magnesium import price stood at $6,287 per ton in 2022, growing by 89% against the previous year.

This report provides an in-depth analysis of the magnesium market in Colombia. 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 2030.

Product coverage:

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023