CIS: Magnesium Market 2024

Magnesium Market Size in CIS

The CIS magnesium market expanded sharply to $X in 2021, picking up by 6.3% against the previous year. The total consumption indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.4% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Magnesium Production in CIS

In value terms, magnesium production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 91% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Magnesium Exports

Exports in CIS

In 2021, overseas shipments of magnesium decreased by -14.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, showed temperate growth. The growth pace was the most rapid in 2017 when exports increased by 72%. The volume of export peaked at X tons in 2020, and then fell in the following year.

In value terms, magnesium exports fell to $X in 2021. In general, exports, however, recorded strong growth. The pace of growth was the most pronounced in 2017 with an increase of 62%. Over the period under review, the exports reached the peak figure at $X in 2020, and then declined slightly in the following year.

Exports by Country

Russia prevails in exports structure, recording X tons, which was approx. 94% of total exports in 2021. Belarus (X tons) and Kazakhstan (X tons) took a minor share of total exports.

Exports from Russia increased at an average annual rate of +5.5% from 2012 to 2021. At the same time, Belarus (+70.9%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +70.9% from 2012-2021. By contrast, Kazakhstan (-13.3%) illustrated a downward trend over the same period. Russia (+7.7 p.p.) and Belarus (+3 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -10.8% from 2012 to 2021, respectively.

In value terms, Russia ($X) remains the largest magnesium supplier in the CIS, comprising 95% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a 2.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Russia amounted to +8.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Kazakhstan (-9.2% per year) and Belarus (+57.0% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, picking up by 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+4.8%), while the other leaders experienced mixed trends in the export price figures.

Magnesium Imports

Imports in CIS

For the third consecutive year, the CIS recorded growth in overseas purchases of magnesium, which increased by 7.1% to X tons in 2021. In general, imports enjoyed a significant increase. The growth pace was the most rapid in 2013 when imports increased by 150%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, magnesium imports soared to $X in 2021. Overall, imports showed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 160% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Russia dominates imports structure, amounting to X tons, which was approx. 85% of total imports in 2021. It was distantly followed by Kazakhstan (X tons), achieving a 9.3% share of total imports. Uzbekistan (X tons) and Belarus (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to magnesium imports into Russia stood at +22.2%. At the same time, Uzbekistan (+39.4%), Kazakhstan (+15.2%) and Belarus (+7.4%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +39.4% from 2012-2021. While the share of Russia (+5.6 p.p.) and Uzbekistan (+3.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Belarus (-3.6 p.p.) and Kazakhstan (-5.4 p.p.) displayed negative dynamics.

In value terms, Russia ($X) constitutes the largest market for imported magnesium in the CIS, comprising 85% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 9.4% share of total imports. It was followed by Uzbekistan, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia totaled +25.9%. In the other countries, the average annual rates were as follows: Kazakhstan (+12.1% per year) and Uzbekistan (+40.1% per year).

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per ton, picking up by 66% against the previous year. Import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.7% 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 reached 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 Belarus ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :