Eastern Europe: Magnesite Market 2024

Magnesite Market Size in Eastern Europe

The East European magnesite market fell to $X in 2022, which is down by X% against the previous year. Overall, consumption showed a pronounced setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Magnesite Production in Eastern Europe

In value terms, magnesite production expanded significantly to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt downturn. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Magnesite Exports

Exports in Eastern Europe

In 2022, magnesite exports in Eastern Europe declined dramatically to X tons, which is down by X% against the year before. In general, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then reduced markedly in the following year.

In value terms, magnesite exports dropped remarkably to $X in 2022. Over the period under review, exports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Slovakia was the key exporter of magnesite in Eastern Europe, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Russia (X tons), comprising an X% share of total exports.

Slovakia was also the fastest-growing in terms of the magnesite exports, with a CAGR of X% from 2012 to 2022. At the same time, Russia (X%) displayed positive paces of growth. While the share of Slovakia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Russia (X p.p.) displayed negative dynamics.

In value terms, the largest magnesite supplying countries in Eastern Europe were Russia ($X) and Slovakia ($X).

Russia, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price continues to indicate a drastic downturn. The growth pace was the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Slovakia totaled $X per ton.

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

Magnesite Imports

Imports in Eastern Europe

In 2022, purchases abroad of magnesite decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, posted strong growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, magnesite imports fell to $X in 2022. Overall, imports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Poland (X tons) was the main importer of magnesite, creating X% of total imports. It was distantly followed by Russia (X tons), the Czech Republic (X tons), Bulgaria (X tons) and Hungary (X tons), together constituting a X% share of total imports.

Poland was also the fastest-growing in terms of the magnesite imports, with a CAGR of X% from 2012 to 2022. At the same time, Russia (X%) and Hungary (X%) displayed positive paces of growth. By contrast, Bulgaria (X%) and the Czech Republic (X%) illustrated a downward trend over the same period. Poland (X p.p.) and Russia (X p.p.) significantly strengthened its position in terms of the total imports, while Bulgaria and the Czech Republic saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported magnesite in Eastern Europe, comprising X% of total imports. The second position in the ranking was held by Hungary ($X), with a X% share of total imports. It was followed by Bulgaria, with an X% share.

In Poland, magnesite imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Bulgaria (X% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, saw a abrupt setback. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hungary ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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