Africa: Magnesite Market 2024

Magnesite Market Size in Africa

The African magnesite market soared to $X in 2021, rising by 18% against the previous year. Over the period under review, consumption, however, saw a pronounced descent. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Magnesite Production in Africa

In value terms, magnesite production contracted slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2013 when the production volume increased by 21% against the previous year. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Magnesite Exports

Exports in Africa

In 2021, magnesite exports in Africa declined markedly to X tons, waning by -82.7% against the previous year's figure. Over the period under review, exports showed a deep slump. The pace of growth was the most pronounced in 2020 when exports increased by 76%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, magnesite exports contracted dramatically to $X in 2021. Overall, exports showed a dramatic decline. The most prominent rate of growth was recorded in 2016 when exports increased by 112% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

South Africa (X tons) and Zambia (X tons) represented the key exporters of magnesite in 2021, recording approx. 44% and 44% of total exports, respectively. It was distantly followed by Zimbabwe (X tons), mixing up a 10% share of total exports. Egypt (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Zambia (with a CAGR of -11.5%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Zambia ($X) remains the largest magnesite supplier in Africa, comprising 64% of total exports. The second position in the ranking was held by South Africa ($X), with a 25% share of total exports. It was followed by Zimbabwe, with an 8.4% share.

In Zambia, magnesite exports decreased by an average annual rate of -15.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Africa (-28.5% per year) and Zimbabwe (-19.9% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, picking up by 76% against the previous year. Overall, the export price, however, recorded a perceptible slump. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Zambia ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+19.1%), while the other leaders experienced mixed trends in the export price figures.

Magnesite Imports

Imports in Africa

In 2021, overseas purchases of magnesite were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, showed a deep reduction. The pace of growth appeared the most rapid in 2015 with an increase of 35%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, magnesite imports contracted slightly to $X in 2021. Overall, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 70%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, South Africa (X tons) represented the largest importer of magnesite, mixing up 53% of total imports. Swaziland (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Democratic Republic of the Congo (11%), Algeria (6.1%) and Egypt (5.7%). The following importers - Zambia (X tons) and Nigeria (X tons) - together made up 4.2% of total imports.

Imports into South Africa decreased at an average annual rate of -5.9% from 2012 to 2021. At the same time, Nigeria (+34.1%), Algeria (+30.1%), Swaziland (+19.8%) and Zambia (+12.3%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Africa, with a CAGR of +34.1% from 2012-2021. By contrast, Egypt (-1.8%) and Democratic Republic of the Congo (-15.1%) illustrated a downward trend over the same period. Swaziland (+11 p.p.), Algeria (+5.8 p.p.), Zambia (+2 p.p.), Egypt (+1.7 p.p.) and Nigeria (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while South Africa and Democratic Republic of the Congo saw its share reduced by -1.6% and -17.6% from 2012 to 2021, respectively.

In value terms, the largest magnesite importing markets in Africa were South Africa ($X), Democratic Republic of the Congo ($X) and Algeria ($X), together comprising 73% of total imports. These countries were followed by Egypt, Zambia, Nigeria and Swaziland, which together accounted for a further 14%.

In terms of the main importing countries, Nigeria, with a CAGR of +32.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, falling by -9.6% against the previous year. Overall, the import price continues to indicate a perceptible slump. The growth pace was the most rapid in 2019 when the import price increased by 43% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while Swaziland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :