Iceland: Magnesite Market Overview 2020

Magnesite Market Size in Iceland

The revenue of the magnesite market in Iceland amounted to $X in 2018, jumping by X% against the previous year. Over the period under review, magnesite consumption continues to indicate a moderate drop. The most prominent rate of growth was recorded in 2017 when the market value increased by X% y-o-y. Over the period under review, the magnesite market attained its peak figure level at $X in 2007; however, from 2008 to 2018, consumption remained at a lower figure.

Magnesite Production in Iceland

In value terms, magnesite production stood at $X in 2018 estimated in export prices. Over the period under review, magnesite production continues to indicate a relatively flat trend pattern. Over the period under review, magnesite production reached its peak figure level in 2018 and is expected to retain its growth in the immediate term.

Magnesite Exports

Exports from Iceland

In 2018, the exports of magnesite from Iceland stood at X kg, approximately reflecting the previous year. In general, magnesite exports continue to indicate a precipitous decrease. Over the period under review, magnesite exports attained their peak figure at X tonnes in 2016; however, from 2017 to 2018, exports failed to regain their momentum.

In value terms, magnesite exports stood at $X in 2018. Overall, magnesite exports continue to indicate a dramatic shrinkage. Over the period under review, magnesite exports attained their peak figure at $X in 2016; however, from 2017 to 2018, exports stood at a somewhat lower figure.

Exports by Country

China represented the major exporting country with an export of about X tonnes, which resulted at X% of total exports. It was distantly followed by Turkey (X tonnes), Pakistan (X tonnes), Guatemala (X tonnes), South Africa (X tonnes), Russia (X tonnes) and Ireland (X tonnes), together making up a X% share of total exports. Germany (X tonnes), Slovakia (X tonnes), Zambia (X tonnes), Australia (X tonnes) and Zimbabwe (X tonnes) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to magnesite exports from China stood at -X%. At the same time, Pakistan (+X%), Australia (+X%), Russia (+X%), Zambia (+X%), Ireland (+X%), South Africa (+X%), Zimbabwe (+X%), Guatemala (+X%), Slovakia (+X%), Germany (+X%) and Turkey (+X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. While the share of Pakistan (+X p.p.), Russia (+X p.p.), South Africa (+X p.p.), Ireland (+X p.p.), Guatemala (+X p.p.), Turkey (+X p.p.), Zambia (+X p.p.), Germany (+X p.p.), Slovakia (+X p.p.) and Australia (+X p.p.) increased significantly in terms of the global exports from 2007-2018, the share of China (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest magnesite supplier from Iceland, comprising X% of global exports. The second position in the ranking was occupied by South Africa ($X), with a X% share of global exports. It was followed by Ireland, with a X% share.

In China, magnesite exports increased at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: South Africa (+X% per year) and Ireland (+X% per year).

Export Prices by Country

The magnesite export price in Iceland stood at $X per tonne in 2018, remaining relatively unchanged against the previous year. Overall, the magnesite export price continues to indicate a mild expansion. Over the period under review, the export prices for magnesite reached their maximum in 2018 and is likely to see steady growth in the near future.

Prices varied noticeably by the country of origin; the country with the highest price was Zambia ($X per tonne), while Pakistan ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Magnesite Imports

Imports into Iceland

In 2018, the imports of magnesite into Iceland totaled X kg, waning by -X% against the previous year. In general, magnesite imports continue to indicate a dramatic descent. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, magnesite imports attained their peak figure at X tonnes in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

In value terms, magnesite imports totaled $X in 2018. In general, magnesite imports continue to indicate a sharp setback. The growth pace was the most rapid in 2016 when imports increased by X% year-to-year. Iceland imports peaked at $X in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

Imports by Country

In 2018, India (X tonnes) and the U.S. (X tonnes) were the major importers of magnesiteacross the globe, together amounting to near X% of total imports. It was distantly followed by Democratic Republic of the Congo (X tonnes), generating a X% share of total imports. South Africa (X tonnes), Malaysia (X tonnes), Zambia (X tonnes), Poland (X tonnes), Ireland (X tonnes), New Zealand (X tonnes), Germany (X tonnes), the Czech Republic (X tonnes) and Italy (X tonnes) took a relatively small share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Poland, while the other leaders experienced more modest paces of growth.

In value terms, Democratic Republic of the Congo ($X), India ($X) and Zambia ($X) constituted the countries with the highest levels of imports in 2018, with a combined X% share of total imports. These countries were followed by the U.S., Ireland, Germany, Malaysia, South Africa, New Zealand, the Czech Republic, Poland, Italy and Iceland, which together accounted for a further X experienced the highest growth rate of imports, among the main importing countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the magnesite import price in Iceland amounted to $X per tonne, jumping by X% against the previous year. Over the period under review, the magnesite import price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. In that year, the import prices for magnesite reached their peak level and is likely to continue its growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was Zambia ($X per tonne), while Poland ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Democratic Republic of the Congo, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform