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India - Magnesium - Market Analysis, Forecast, Size, Trends And Insights
Report Update: May 1, 2025

India - Magnesium - Market Analysis, Forecast, Size, Trends And Insights

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Nov 21, 2023

July 2023 Witnesses $10M Surge in Magnesium Imports in India

India Magnesium Imports

In July 2023, imports of magnesium into India surged to 3K tons, growing by 175% compared with June 2023 figures. Overall, total imports indicated mild growth from July 2022 to July 2023: its volume increased at an average monthly rate of +1.7% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, imports increased by +174.8% against June 2023 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, magnesium imports skyrocketed to $10M (IndexBox estimates) in July 2023. In general, imports, however, showed a pronounced decline.India Magnesium Imports By Country (Million USD)

COUNTRYImport Value of Magnesium in India (million USD)
Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023
China11.711.28.77.66.46.17.93.95.95.55.92.78.8
Singapore0.90.40.6N/A1.10.60.20.51.2N/A0.70.70.8
Hong Kong0.20.20.20.5< 0.1< 0.10.30.50.90.20.30.50.6
Others0.9< 0.1N/A< 0.1N/A< 0.1< 0.1N/A< 0.1< 0.1< 0.1N/AN/A
Total13.711.89.58.17.66.88.54.98.05.77.03.910.1

Imports by Country

In July 2023, China (2.6K tons) constituted the largest magnesium supplier to India, with a 87% share of total imports. Moreover, magnesium imports from China exceeded the figures recorded by the second-largest supplier, Singapore (220 tons), more than tenfold.

From July 2022 to July 2023, the average monthly growth rate of volume from China amounted to +1.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Singapore (+6.4% per month) and Hong Kong (+11.0% per month).

In value terms, China ($8.8M) constituted the largest supplier of magnesium to India, comprising 87% of total imports. The second position in the ranking was held by Singapore ($772K), with a 7.6% share of total imports.

From July 2022 to July 2023, the average monthly growth rate of value from China amounted to -2.3%. The remaining supplying countries recorded the following average monthly rates of imports growth: Singapore (-1.5% per month) and Hong Kong (+7.4% per month).

Imports by Type

In July 2023, unwrought magnesium of at least 99.8% purity (2.9K tons) was the main type of magnesium supplied to India, with a 96% share of total imports. Moreover, unwrought magnesium of at least 99.8% purity exceeded the figures recorded for the second-largest type, unwrought magnesium of less than 99.8% purity (130 tons), more than tenfold.

From July 2022 to July 2023, the average monthly growth rate of the volume of import of unwrought magnesium of at least 99.8% purity amounted to +2.1%.

In value terms, unwrought magnesium of at least 99.8% purity ($9.7M) constituted the largest type of magnesium supplied to India, comprising 95% of total imports. The second position in the ranking was taken by unwrought magnesium of less than 99.8% purity ($471K), with a 4.6% share of total imports.

Import Prices by Country

In July 2023, the magnesium price amounted to $3,332 per ton (CIF, India), waning by -5.1% against the previous month. Over the period under review, the import price showed a pronounced decline. The growth pace was the most rapid in June 2023 when the average import price increased by 4.4% m-o-m. Over the period under review, average import prices attained the peak figure at $5,525 per ton in July 2022; however, from August 2022 to July 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was Singapore ($3,509 per ton), while the price for Hong Kong ($3,246 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Hong Kong (-3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the magnesium market in India. 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.

Product coverage:

    Country coverage:

    • India

    Data coverage:

    • Market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Trade (exports and imports) in India
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND THE AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and its Prospects

      1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      5. MARKET FORECAST TO 2035

    4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

      Finding New Products to Diversify Your Business

      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCTS
      4. MOST TRADED PRODUCTS
      5. MOST PROFITABLE PRODUCTS FOR EXPORTS

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Export

      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

    8. 8. IMPORTS

      The Largest Import Supplying Countries

      1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
      3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

    9. 9. EXPORTS

      The Largest Destinations for Exports

      1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
      3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

    11. LIST OF TABLES

      1. Key Findings In 2024
      2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
      4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
      5. Imports, In Physical Terms, By Country, 2012–2024
      6. Imports, In Value Terms, By Country, 2012–2024
      7. Import Prices, By Country, 2012–2024
      8. Exports, In Physical Terms, By Country, 2012–2024
      9. Exports, In Value Terms, By Country, 2012–2024
      10. Export Prices, By Country, 2012–2024

    12. LIST OF FIGURES

      1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
      3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
      8. Market Volume Forecast to 2035
      9. Market Value Forecast to 2035
      10. Products: Market Size and Growth, By Type
      11. Products: Average Per Capita Consumption, By Type
      12. Products: Exports and Growth, By Type
      13. Products: Export Prices and Growth, By Type
      14. Production Volume and Growth
      15. Exports and Growth
      16. Export Prices and Growth
      17. Market Size and Growth
      18. Per Capita Consumption
      19. Imports and Growth
      20. Import Prices
      21. Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      25. Imports, In Physical Terms, By Country, 2024
      26. Imports, In Physical Terms, By Country, 2012–2024
      27. Imports, In Value Terms, By Country, 2012–2024
      28. Import Prices, By Country, 2012–2024
      29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      31. Exports, In Physical Terms, By Country, 2024
      32. Exports, In Physical Terms, By Country, 2012–2024
      33. Exports, In Value Terms, By Country, 2012–2024
      34. Export Prices, By Country, 2012–2024

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