South-Eastern Asia: Magnesite Market 2024

Magnesite Market Size in South-Eastern Asia

In 2022, the Southeast Asian magnesite market increased by X% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption enjoyed significant growth. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Magnesite Production in South-Eastern Asia

In value terms, magnesite production expanded modestly to $X in 2022 estimated in export price. In general, production posted a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Magnesite Exports

Exports in South-Eastern Asia

Magnesite exports reached X tons in 2022, increasing by X% compared with 2021 figures. Overall, exports, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, magnesite exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a pronounced decline. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) and Indonesia (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Vietnam (X tons) and the Philippines (X tons), together creating a X% share of total exports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Malaysia and the Philippines lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, recorded a mild reduction. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Magnesite Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of magnesite increased by X% to X tons, rising for the third year in a row after two years of decline. In general, imports showed a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, magnesite imports skyrocketed to $X in 2022. Overall, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Indonesia prevails in imports structure, accounting for X tons, which was approx. X% of total imports in 2022. The Philippines (X tons) held a relatively small share of total imports.

Imports into Indonesia increased at an average annual rate of X% from 2012 to 2022. At the same time, the Philippines (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. While the share of Indonesia (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported magnesite in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was held by the Philippines ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Indonesia amounted to X%.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, waning by X% against the previous year. Overall, the import price saw a drastic downturn. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the Philippines totaled $X per ton.

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

Source: IndexBox Platform

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