NEW YORK, March 21, 2022 (GLOBE NEWSWIRE) -- IndexBox has just published a new report: 'World - Magnesium - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
Magnesium Market Statistics
| Imports | 1579.7 Million USD |
| Exports | 1579.0 Million USD |
| Top Importers | Netherlands, Canada, Germany |
| Top Exporters | China, Israel, Netherlands |
Magnesium Production
Global magnesium production decreased from 1M tonnes in 2020 to 950K tonnes in 2021 due to lower output in China. Environmental regulations and power shortages led to a reduction in China’s magnesium production. REQUEST FREE DATA
China remains the largest magnesium producing country worldwide, comprising approx. 86% of total volume. Moreover, magnesium production in China exceeded the figures recorded by the second-largest producer, Russia, more than tenfold. The third position in this ranking was occupied by Kazakhstan, with a 2.1% share. REQUEST FREE DATA
Market Forecast to 2030
Driven by increasing demand for magnesium worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.8% for the period from 2021 to 2030, which is projected to bring the market volume to 1.5M tonnes by the end of 2030. REQUEST FREE DATA
Magnesium Exports
In 2021, the amount of magnesium exported worldwide surged to 523K tonnes, with an increase of 17% against 2020 figures. The total export volume increased at an average annual rate of +2.8% from 2011 to 2021.
In value terms, supplies surged to $1.6B in 2021. The total export value increased at an average annual rate of +1.9% over the period from 2011 to 2021.
Exports by Country
In 2021, China (305K tonnes) represented the largest exporter of magnesium, comprising 58% of total exports. It was distantly followed by Israel (73K tonnes) and the Netherlands (66K tonnes), together constituting a 27% share of total supplies. The following exporters - the Czech Republic (12K tonnes) and Germany (9K tonnes) - each recorded a 3.9% share of total volume.
In value terms, China ($1B) remains the largest magnesium supplier worldwide, comprising 64% of global exports. The second position in the ranking was occupied by the Netherlands ($195M), with a 12% share of the total value. It was followed by Israel, with a 4.4% share.
From 2011 to 2021, the average annual rate of growth in terms of value in China stood at +1.4%. In the other countries, the average annual rates were as follows: the Netherlands (+27.8% per year) and Israel (-4.6% per year).
Export Prices by Country
In 2021, the average magnesium export price amounted to $3,018 per tonne, growing by 17% against the previous year. There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Germany, while Israel was amongst the lowest.
Leading Magnesium Importers
In 2021, the Netherlands (90K tonnes), distantly followed by Canada (51K tonnes), Germany (38K tonnes) and Japan (31K tonnes) were the largest importers of magnesium, together mixing up 40% of total imports. The U.S. (23K tonnes), India (22K tonnes), South Korea (20K tonnes), Turkey (19K tonnes), Norway (15K tonnes), Italy (15K tonnes), Romania (14K tonnes), Taiwan (Chinese) (13K tonnes) and France (12K tonnes) held a relatively small share of total volume.
In value terms, the largest magnesium importing markets worldwide were the Netherlands ($246M), Canada ($154M) and Japan ($138M), together comprising 34% of global purchases.
About IndexBox
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Product Coverage
Unwrought magnesium.
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