Myanmar: Magnesite Market 2023

Magnesite Market Size in Myanmar

The Myanmar's magnesite market shrank markedly to $X in 2021, declining by -53.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption faced a abrupt downturn. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Magnesite Exports

Exports from Myanmar

In 2021, exports of magnesite from Myanmar totaled less than X kg, leveling off at 2020 figures. In general, exports recorded a relatively flat trend pattern.

In value terms, magnesite exports totaled less than $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern.

Magnesite Imports

Imports into Myanmar

In 2021, overseas purchases of magnesite decreased by -55.9% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports saw a drastic downturn. The growth pace was the most rapid in 2013 when imports increased by 84% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, magnesite imports fell rapidly to $X in 2021. Overall, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2013 when imports increased by 84% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest magnesite supplier to Myanmar, with a 56% share of total imports. Moreover, magnesite imports from India exceeded the figures recorded by the second-largest supplier, Norway (X tons), twofold. Japan (X tons) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India stood at +55.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-0.6% per year) and Japan (-15.8% per year).

In value terms, Norway ($X), Japan ($X) and Thailand ($X) appeared to be the largest magnesite suppliers to Myanmar, with a combined 75% share of total imports. India and China lagged somewhat behind, together accounting for a further 25%.

India, with a CAGR of +75.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average magnesite import price stood at $X per ton in 2021, surging by 12% against the previous year. Overall, the import price, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2020 an increase of 30% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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