Thailand - Magnesium - Market Analysis, Forecast, Size, Trends And Insights
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View PricingThailand's Magnesium Purchases Drop to $25M in 2023
Thailand Magnesium Imports
In 2023, the amount of magnesium imported into Thailand fell to 6.7K tons, which is down by -12.3% against the previous year. Over the period under review, imports, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 66%. As a result, imports reached the peak of 8.1K tons. From 2022 to 2023, the growth of imports remained at a lower figure.
In value terms, magnesium imports shrank rapidly to $25M (IndexBox estimates) in 2023. Overall, imports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of 175%. Over the period under review, imports hit record highs at $43M in 2022, and then fell rapidly in the following year.
| COUNTRY | Import Value of Magnesium in Thailand (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| China | 8.4 | 8.0 | 8.6 | 11.9 | 14.0 | 16.4 | 17.7 | 10.9 | 30.4 | 41.6 | 23.7 |
| Japan | N/A | N/A | 0.5 | 0.1 | 0.3 | 0.3 | 0.2 | 0.1 | 0.1 | 0.6 | 1.0 |
| Taiwan (Chinese) | 0.6 | 0.5 | 0.7 | 0.7 | 0.2 | 0.1 | 0.1 | N/A | N/A | N/A | 0.2 |
| Others | 0.3 | 0.3 | 0.5 | 0.2 | 0.2 | 0.3 | 0.3 | 0.1 | 0.3 | 0.5 | N/A |
| Total | 9.3 | 8.9 | 10.3 | 12.9 | 14.8 | 17.1 | 18.3 | 11.2 | 30.8 | 42.6 | 24.9 |
Imports by Country
In 2023, China (6.4K tons) was the main magnesium supplier to Thailand, with a 96% share of total imports. Moreover, magnesium imports from China exceeded the figures recorded by the second-largest supplier, Japan (237 tons), more than tenfold.
From 2013 to 2023, the average annual rate of growth in terms of volume from China stood at +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+56.4% per year) and Taiwan (Chinese) (-12.5% per year).
In value terms, China ($24M) constituted the largest supplier of magnesium to Thailand, comprising 95% of total imports. The second position in the ranking was held by Japan ($995K), with a 4% share of total imports.
From 2013 to 2023, the average annual growth rate of value from China amounted to +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+57.6% per year) and Taiwan (Chinese) (-11.6% per year).
Imports by Type
Unwrought magnesium of at least 99.8% purity (4.4K tons) and unwrought magnesium of less than 99.8% purity (2.4K tons) were the main products of magnesium imports to Thailand.
From 2013 to 2023, the biggest increases were recorded for unwrought magnesium of at least 99.8% purity (with a CAGR of +14.7%).
In value terms, magnesium with the largest imports in Thailand were unwrought magnesium of at least 99.8% purity ($15M) and unwrought magnesium of less than 99.8% purity ($9.8M).
Import Prices by Country
In 2023, the magnesium price amounted to $3,712 per ton (CIF, Thailand), with a decrease of -33.4% against the previous year. Overall, the import price, however, continues to indicate mild growth. The most prominent rate of growth was recorded in 2021 when the average import price increased by 66%. Over the period under review, average import prices attained the maximum at $5,576 per ton in 2022, and then reduced notably in the following year.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($4,194 per ton), while the price for China stood at $3,684 per ton.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by China (+1.4%).
This report provides an in-depth analysis of the magnesium market in Thailand. 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:
- Thailand
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Thailand
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
