U.S.: Magnesium Market 2024

Magnesium Market Size in the U.S.

The U.S. magnesium market surged to $X in 2022, with an increase of X% 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). In general, consumption showed significant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Magnesium Exports

Exports from the U.S.

Magnesium exports from the United States surged to X tons in 2022, with an increase of X% on 2021. Overall, exports, however, continue to indicate a abrupt contraction. The growth pace was the most rapid in 2016 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, magnesium exports surged to $X in 2022. In general, exports, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for magnesium exports from the United States, accounting for a X% share of total exports. Moreover, magnesium exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold. The UK (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, Canada ($X) remains the key foreign market for magnesium exports from the United States, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Mexico (X% per year).

Export Prices by Country

In 2022, the average magnesium export price amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Canada ($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 Singapore (X%), while the prices for the other major destinations experienced mixed trend patterns.

Magnesium Imports

Imports into the U.S.

In 2022, approx. X tons of magnesium were imported into the United States; picking up by X% on 2021 figures. In general, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, magnesium imports surged to $X in 2022. Over the period under review, imports continue to indicate a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Czech Republic (X tons), Turkey (X tons) and Hungary (X tons) were the main suppliers of magnesium imports to the United States, with a combined X% share of total imports. Israel, Taiwan (Chinese), South Korea, Canada, Germany, Hong Kong SAR, China and Russia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Turkey ($X) and the Czech Republic ($X) appeared to be the largest magnesium suppliers to the United States, together accounting for X% of total imports. Hungary, Canada, Taiwan (Chinese), South Korea, China, Russia, Germany and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average magnesium import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, magnesium import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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