Global Magnesium Market Overview 2020

Magnesium Market Size

The global magnesium market totaled $X in 2019, surging by X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2008 when the market value increased by X% y-o-y. As a result, consumption reached the peak level of $X. From 2009 to 2019, the growth of the global market remained at a somewhat lower figure.

Magnesium Production

In value terms, magnesium production amounted to $X in 2019 estimated in export prices. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when the production volume increased by X% y-o-y. As a result, production attained the peak level of $X. From 2009 to 2019, global production growth remained at a lower figure.

Production By Country

The country with the largest volume of magnesium production was China (X tonnes), comprising approx. X% of total volume. Moreover, magnesium production in China exceeded the figures recorded by the second-largest producer, Israel (X tonnes), eightfold.

In China, magnesium production remained relatively stable over the period from 2007-2019. The remaining producing countries recorded the following average annual rates of production growth: Israel (+X% per year) and the Czech Republic (+X% per year).

Magnesium Exports

Exports

In 2019, approx. X tonnes of magnesium were exported worldwide; with a decrease of -X% compared with the year before. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2010 when exports increased by X% against the previous year. Over the period under review, global exports reached the maximum at X tonnes in 2017; however, from 2018 to 2019, exports failed to regain the momentum.

In value terms, magnesium exports shrank slightly to $X in 2019. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. As a result, exports attained the peak of $X. From 2009 to 2019, the growth of global exports failed to regain the momentum.

Exports by Country

China prevails in magnesium exports structure, amounting to X tonnes, which was approx. X% of total exports in 2019. Israel (X tonnes), Germany (X tonnes), Slovenia (X tonnes), the U.S. (X tonnes), the Czech Republic (X tonnes) and the UK (X tonnes) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of magnesium. At the same time, Slovenia (+X%) and the UK (+X%) displayed positive paces of growth. Moreover, Slovenia emerged as the fastest-growing exporter exported in the world, with a CAGR of +X% from 2007-2019. By contrast, the Czech Republic (-X%), Germany (-X%), the U.S. (-X%) and Israel (-X%) illustrated a downward trend over the same period. From 2007 to 2019, the share of China and Slovenia increased by +X% and +X% percentage points, while Israel (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest magnesium supplier worldwide, comprising X% of global exports. The second position in the ranking was occupied by Israel ($X), with a X% share of global exports. It was followed by the U.S., with a X% share.

In China, magnesium exports remained relatively stable over the period from 2007-2019. In the other countries, the average annual rates were as follows: Israel (-X% per year) and the U.S. (+X% per year).

Export Prices by Country

In 2019, the average magnesium export price amounted to $X per tonne, increasing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2008 when the average export price increased by X% year-to-year. As a result, export price reached the peak level of $X per tonne. From 2009 to 2019, the growth in terms of the average export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per tonne), while China ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the U.S., while the other global leaders experienced more modest paces of growth.

Magnesium Imports

Imports

In 2019, global magnesium imports amounted to X tonnes, approximately reflecting 2018. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Global imports peaked at X tonnes in 2017; however, from 2018 to 2019, imports remained at a lower figure.

In value terms, magnesium imports stood at $X in 2019. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 with an increase of X% y-o-y. As a result, imports reached the peak of $X. From 2009 to 2019, the growth of global imports failed to regain the momentum.

Imports by Country

The countries with the highest levels of magnesium imports in 2019 were Canada (X tonnes), Germany (X tonnes), the U.S. (X tonnes), Japan (X tonnes), South Korea (X tonnes), India (X tonnes), Norway (X tonnes), Austria (X tonnes), France (X tonnes), Romania (X tonnes), Italy (X tonnes) and Taiwan, Chinese (X tonnes), together accounting for X% of total import.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India, while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest magnesium importing markets worldwide were Canada ($X), Germany ($X) and the U.S. ($X), together comprising X% of global imports. Japan, South Korea, India, Norway, France, Italy, Austria, Romania and Taiwan, Chinese lagged somewhat behind, together comprising a further X recorded the highest rates of growth with regard to 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

In 2019, the average magnesium import price amounted to $X per tonne, surging by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2008 when the average import price increased by X% year-to-year. As a result, import price attained the peak level of $X per tonne. From 2009 to 2019, the growth in terms of the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per tonne), while Austria ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the U.S., while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for magnesium in the world?

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The countries with the highest volumes of magnesium consumption in 2019 were China (58K tonnes), Canada (50K tonnes) and Germany (34K tonnes), with a combined 31% share of global consumption. Israel, Japan, the U.S., India, South Korea, Norway, France, Romania and the United Arab Emirates lagged somewhat behind, together accounting for a further 38%.

What are the largest producers of magnesium in the world?

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China (386K tonnes) constituted the country with the largest volume of magnesium production, accounting for 84% of total volume. Moreover, magnesium production in China exceeded the figures recorded by the second-largest producer, Israel (50K tonnes), eightfold.

What are the leading exporters of magnesium in the world?

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In value terms, China ($814M) remains the largest magnesium supplier worldwide, comprising 71% of global exports. The second position in the ranking was occupied by Israel ($75M), with a 6.6% share of global exports. It was followed by the U.S., with a 3.7% share.

What are the leading importers of magnesium in the world?

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In value terms, the largest magnesium importing markets worldwide were Canada ($148M), Germany ($126M) and the U.S. ($121M), together accounting for 34% of global imports. Japan, South Korea, India, Norway, France, Italy, Austria, Romania and Taiwan, Chinese lagged somewhat behind, together comprising a further 33%.

What is the average export price for magnesium in the world?

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In 2019, the average magnesium export price amounted to $2,671 per tonne, rising by 3.3% against the previous year.

What is the average import price for magnesium in the world?

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In 2019, the average magnesium import price amounted to $2,750 per tonne, rising by 1.9% against the previous year.