Brazil: Magnesite Market 2024

Magnesite Market Size in Brazil

For the third consecutive year, the Brazilian magnesite market recorded growth in sales value, which increased by 2.9% to $X in 2021. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +90.4% against 2013 indices. Magnesite consumption peaked in 2021 and is expected to retain growth in years to come.

Magnesite Production in Brazil

In value terms, magnesite production declined modestly to $X in 2021 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +97.2% against 2014 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 44% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Magnesite Exports

Exports from Brazil

In 2021, overseas shipments of magnesite decreased by -46.1% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 345% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, magnesite exports contracted to $X in 2021. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 187% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for magnesite exports from Brazil, accounting for a 100% share of total exports. It was followed by Germany (X kg), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Italy totaled +34.8%.

In value terms, Italy ($X) emerged as the key foreign market for magnesite exports from Brazil, comprising 100% of total exports. The second position in the ranking was taken by Germany ($X), with a 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Italy stood at +673.0%.

Export Prices by Country

The average magnesite export price stood at $X per ton in 2021, picking up by 61% against the previous year. In general, the export price saw buoyant growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by 142%. The export price peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Italy totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+471.9%), while the prices for the other major destinations experienced more modest paces of growth.

Magnesite Imports

Imports into Brazil

Magnesite imports into Brazil declined sharply to X tons in 2021, falling by -17.7% compared with the year before. Over the period under review, imports continue to indicate a precipitous curtailment. The growth pace was the most rapid in 2015 when imports increased by 656% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, magnesite imports surged to $X in 2021. Overall, imports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 351% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of magnesite to Brazil, with a 85% share of total imports. Moreover, magnesite imports from China exceeded the figures recorded by the second-largest supplier, the Czech Republic (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +72.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+76.6% per year) and Japan (-14.3% per year).

In value terms, the largest magnesite suppliers to Brazil were China ($X), the Czech Republic ($X) and Japan ($X), with a combined 89% share of total imports.

The Czech Republic, with a CAGR of +123.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average magnesite import price stood at $X per ton in 2021, increasing by 92% against the previous year. Over the period under review, the import price showed strong growth. As a result, import 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 importers, the country with the highest price was the Czech Republic ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+53.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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