
World - Magnesium - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
Global Magnesium Market 2022
Magnesium Market Size
The global magnesium market totaled $X in 2021, growing by 10% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the global market reached the peak level in 2021 and is likely to see gradual growth in the immediate term.
Magnesium Production
In value terms, magnesium production stood at $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 20%. As a result, production reached the peak level of $X. From 2020 to 2021, global production growth failed to regain momentum.
Magnesium Exports
Exports
Global magnesium exports surged to X tons in 2021, rising by 27% on the previous year's figure. The total export volume increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, magnesium exports soared to $X in 2021. In general, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
Exports by Country
China was the largest exporter of magnesium in the world, with the volume of exports accounting for X tons, which was approx. 70% of total exports in 2021. The Netherlands (X tons) ranks second in terms of the total exports with a 12% share, followed by Israel (2.5%). Israel (X tons), the United States (X tons), the Czech Republic (X tons), Germany (X tons) and Austria (X tons) followed a long way behind the leaders.
From 2012 to 2021, average annual rates of growth with regard to magnesium exports from China stood at +4.6%. At the same time, the Netherlands (+32.0%) and the Czech Republic (+5.2%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +32.0% from 2012-2021. By contrast, Germany (-5.2%), Austria (-6.4%), the United States (-6.8%) and Israel (-8.6%) illustrated a downward trend over the same period. The Netherlands (+11 p.p.) significantly strengthened its position in terms of the global exports, while Austria, Germany, the United States and Israel saw its share reduced by -1.7%, -1.8%, -2.6% and -5.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($X) remains the largest magnesium supplier worldwide, comprising 71% of global exports. The second position in the ranking was held by the Netherlands ($X), with a 9.7% share of global exports. It was followed by Israel, with a 3.7% share.
In China, magnesium exports expanded at an average annual rate of +7.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+30.2% per year) and Israel (-5.0% per year).
Export Prices by Country
In 2021, the average magnesium export price amounted to $X per ton, jumping by 50% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Israel ($X per ton), while Austria ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+3.9%), while the other global leaders experienced more modest paces of growth.
Magnesium Imports
Imports
For the third year in a row, the global market recorded growth in overseas purchases of magnesium, which increased by 20% to X tons in 2021. The total import volume increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, magnesium imports surged to $X in 2021. In general, total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Imports by Country
In 2021, Japan (X tons), the Netherlands (X tons), the United States (X tons), Germany (X tons), South Korea (X tons) and Canada (X tons) represented the key importer of magnesium in the world, constituting 48% of total import. Norway (X tons), India (X tons), Austria (X tons), Taiwan (Chinese) (X tons), the UK (X tons), Romania (X tons), the United Arab Emirates (X tons), Mexico (X tons), South Korea (X tons), Italy (X tons) and France (X tons) took a little share of total imports.
From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +30.2%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, the largest magnesium importing markets worldwide were the Netherlands ($X), Canada ($X) and Japan ($X), together comprising 30% of global imports.
The Netherlands, with a CAGR of +29.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices by Country
The average magnesium import price stood at $X per ton in 2021, with an increase of 34% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Global import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.
Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the UK ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.4%), while the other global leaders experienced more modest paces of growth.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the global magnesium market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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