Asia: Magnesium Market 2024

Magnesium Market Size in Asia

The Asian magnesium market rose slightly to $X in 2021, increasing by 4.9% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Magnesium Production in Asia

In value terms, magnesium production rose to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 22%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Magnesium Exports

Exports in Asia

In 2021, exports of magnesium in Asia soared to X tons, surging by 25% compared with 2020 figures. The total export volume increased at an average annual rate of +4.2% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, magnesium exports surged to $X in 2021. Overall, exports recorded a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, finishing at X tons, which was approx. 92% of total exports in 2021. Turkey (X tons) and Israel (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +4.3% from 2012 to 2021. At the same time, Turkey (+71.8%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +71.8% from 2012-2021. By contrast, Israel (-8.0%) illustrated a downward trend over the same period. While the share of Turkey (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Israel (-4.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest magnesium supplier in Asia, comprising 89% of total exports. The second position in the ranking was held by Turkey ($X), with a 4.6% share of total exports.

In China, magnesium exports expanded at an average annual rate of +7.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+79.3% per year) and Israel (-3.4% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 62% against the previous year. Export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, magnesium export price increased by +78.1% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+5.1%), while the other leaders experienced more modest paces of growth.

Magnesium Imports

Imports in Asia

In 2021, approx. X tons of magnesium were imported in Asia; jumping by 41% against the previous year's figure. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, magnesium imports skyrocketed to $X in 2021. Overall, imports posted a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons), distantly followed by South Korea (X tons), India (X tons), Taiwan (Chinese) (X tons), the United Arab Emirates (X tons), Turkey (X tons), Saudi Arabia (X tons), Bahrain (X tons) and Thailand (X tons) represented the key importers of magnesium, together generating 90% of total imports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +48.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and India ($X) constituted the countries with the highest levels of imports in 2021, with a combined 48% share of total imports. These countries were followed by Taiwan (Chinese), the United Arab Emirates, Turkey, Bahrain, Thailand and Saudi Arabia, which together accounted for a further 42%.

In terms of the main importing countries, Saudi Arabia, with a CAGR of +44.3%, 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

In 2021, the import price in Asia amounted to $X per ton, with an increase of 68% against the previous year. Import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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