Mexico: Magnesite Market 2024

Magnesite Market Size in Mexico

In 2022, the Mexican magnesite market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, saw a sharp contraction. Magnesite consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Magnesite Production in Mexico

In value terms, magnesite production reduced markedly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Magnesite production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Magnesite Exports

Exports from Mexico

For the fourth consecutive year, Mexico recorded growth in shipments abroad of magnesite, which increased by X% to X tons in 2022. In general, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, magnesite exports soared to $X in 2022. Over the period under review, exports saw significant growth. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Egypt (X tons) was the main destination for magnesite exports from Mexico, with a X% share of total exports. Moreover, magnesite exports to Egypt exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Egypt amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the UK (X% per year).

In value terms, the UK ($X), Egypt ($X) and the United States ($X) constituted the largest markets for magnesite exported from Mexico worldwide, together comprising X% of total exports.

Egypt, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average magnesite export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price posted buoyant growth. The growth pace was the most rapid in 2014 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Egypt ($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 UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Magnesite Imports

Imports into Mexico

Magnesite imports into Mexico plummeted to X tons in 2022, which is down by X% against the year before. In general, imports saw a deep setback. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, magnesite imports dropped sharply to $X in 2022. Overall, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Guatemala (X tons) constituted the largest magnesite supplier to Mexico, with a X% share of total imports. Moreover, magnesite imports from Guatemala exceeded the figures recorded by the second-largest supplier, Greece (X tons), fourfold. The third position in this ranking was taken by Spain (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Guatemala totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (X% per year) and Spain (X% per year).

In value terms, Greece ($X), Guatemala ($X) and the United States ($X) appeared to be the largest magnesite suppliers to Mexico, with a combined X% share of total imports.

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

Import Prices by Country

In 2022, the average magnesite import price amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :