Ireland: Magnesite Market Overview 2021

Magnesite Market Size in Ireland

In 2020, the Irish magnesite market increased by X% to $X, rising for the third consecutive year after two years of decline. In general, consumption saw a pronounced increase. The growth pace was the most rapid in 2015 when the market value increased by X% against the previous year. Magnesite consumption peaked in 2020 and is expected to retain growth in the immediate term.

Magnesite Production in Ireland

In value terms, magnesite production expanded notably to $X in 2020 estimated in export prices. Overall, the total production indicated a prominent expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production increased by +X% against 2017 indices. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs in 2020 and is expected to retain growth in years to come.

Magnesite Exports

Exports from Ireland

In 2020, shipments abroad of magnesite decreased by -X% to X tonnes, falling for the third year in a row after two years of growth. In general, exports recorded a abrupt setback. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, exports attained the peak figure at X tonnes in 2017; however, from 2018 to 2020, exports remained at a lower figure.

In value terms, magnesite exports contracted sharply to $X in 2020. Over the period under review, exports showed a deep reduction. The most prominent rate of growth was recorded in 2014 when exports increased by X% year-to-year. Over the period under review, exports reached the peak figure at $X in 2018; however, from 2019 to 2020, exports stood at a somewhat lower figure.

Exports by Country

India (X tonnes) was the main destination for magnesite exports from Ireland, accounting for a approx. X% share of total exports.

From 2007 to 2020, the average annual growth rate of volume to India stood at -X%.

In value terms, India ($X) also remains the key foreign market for magnesite exports from Ireland.

From 2007 to 2020, the average annual growth rate of value to India stood at -X%.

Export Prices by Country

The average magnesite export price stood at $X per tonne in 2020, dropping by -X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% year-to-year. Over the period under review, average export prices hit record highs at $X per tonne in 2019, and then declined rapidly in the following year.

As there is only one major export destination, the average price level is determined by prices for India.

From 2007 to 2020, the rate of growth in terms of prices for India amounted to +X% per year.

Magnesite Imports

Imports into Ireland

In 2020, magnesite imports into Ireland expanded notably to X tonnes, surging by X% compared with the previous year. In general, imports, however, saw a slight setback. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at X tonnes in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

In value terms, magnesite imports declined to $X in 2020. Overall, imports, however, showed a measured increase. The pace of growth appeared the most rapid in 2017 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Germany (X tonnes) constituted the largest supplier of magnesite to Ireland, accounting for a X% share of total imports. Moreover, magnesite imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tonnes), threefold. The UK (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Germany stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+X% per year) and the UK (-X% per year).

In value terms, Germany ($X), the Netherlands ($X) and the UK ($X) constituted the largest magnesite suppliers to Ireland, together comprising X% of total imports. Austria lagged somewhat behind, comprising a further X the main suppliers, Austria recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average magnesite import price amounted to $X per tonne, dropping by -X% against the previous year. Overall, import price indicated a perceptible increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, magnesite import price increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of X% year-to-year. As a result, import price attained the peak level of $X per tonne. From 2015 to 2020, the growth in terms of the average import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the Netherlands ($X per tonne), while the price for the UK ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Austria, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for magnesite in the world?

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The country with the largest volume of magnesite consumption was China (216K tonnes), comprising approx. 35% of total volume. Moreover, magnesite consumption in China exceeded the figures recorded by the second-largest consumer, India (55K tonnes), fourfold. The third position in this ranking was occupied by the United Arab Emirates (37K tonnes), with a 6.1% share.

What are the largest producers of magnesite in the world?

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The country with the largest volume of magnesite production was China (277K tonnes), accounting for 53% of total volume. Moreover, magnesite production in China exceeded the figures recorded by the second-largest producer, Turkey (62K tonnes), fourfold. The third position in this ranking was occupied by the United Arab Emirates (39K tonnes), with a 7.5% share.

What are the leading suppliers of magnesite to Ireland?

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In value terms, the largest magnesite suppliers to Ireland were Germany ($1.6M), the Netherlands ($1.1M) and the UK ($74K), with a combined 98% share of total imports. Austria lagged somewhat behind, comprising a further 1.8%.

What are the leading importers of magnesite from Ireland?

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In value terms, India ($292K) remains the key foreign market for magnesite exports from Ireland.

What is the average export price for magnesite in Ireland?

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In 2020, the average magnesite export price amounted to $576 per tonne, waning by -48.5% against the previous year.

What is the average import price for magnesite in Ireland?

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In 2020, the average magnesite import price amounted to $518 per tonne, which is down by -16.3% against the previous year.