Report Update Nov 1, 2024

Colombia - Magnesium - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Colombia: Magnesium Market 2024

Magnesium Market Size in Colombia

In 2021, the Colombian magnesium market increased by 104% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded a relatively flat trend pattern. Magnesium consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Magnesium Exports

Exports from Colombia

In 2021, shipments abroad of magnesium decreased by -65.6% to X tons, falling for the third consecutive year after seven years of growth. Overall, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 when exports increased by 44%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, magnesium exports declined sharply to $X in 2021. In general, exports recorded a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 49%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Venezuela (X tons) was the main destination for magnesium exports from Colombia, accounting for a 94% share of total exports. Moreover, magnesium exports to Venezuela exceeded the volume sent to the second major destination, Ecuador (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Venezuela was relatively modest.

In value terms, Venezuela ($X) remains the key foreign market for magnesium exports from Colombia, comprising 95% of total exports. The second position in the ranking was held by Ecuador ($X), with a 5.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Venezuela amounted to -2.9%.

Export Prices by Country

In 2021, the average magnesium export price amounted to $X per ton, declining by -6.7% against the previous year. In general, the export price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 4.9%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Ecuador totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (-2.1%).

Magnesium Imports

Imports into Colombia

After two years of decline, overseas purchases of magnesium increased by 52% to X tons in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, magnesium imports soared to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main supplier of magnesium to Colombia, accounting for a approx. 99% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of magnesium to Colombia.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +1.2%.

Import Prices by Country

In 2021, the average magnesium import price amounted to $X per ton, picking up by 50% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +0.4% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for magnesium in the world?

The country with the largest volume of magnesium consumption was China, comprising approx. 54% of total volume. Moreover, magnesium consumption in China exceeded the figures recorded by the second-largest consumer, Russia, ninefold. The third position in this ranking was occupied by Japan, with a 5.7% share.

What are the largest producers of magnesium in the world?

China constituted the country with the largest volume of magnesium production, accounting for 86% of total volume. Moreover, magnesium production in China exceeded the figures recorded by the second-largest producer, Russia, more than tenfold. The third position in this ranking was occupied by Kazakhstan, with a 2.1% share.

What are the leading suppliers of magnesium to Colombia?

In value terms, China constituted the largest supplier of magnesium to Colombia.

What are the leading importers of magnesium from Colombia?

In value terms, Venezuela emerged as the key foreign market for magnesium exports from Colombia, comprising 97% of total exports. The second position in the ranking was occupied by Ecuador $794), with a 3.3% share of total exports.

What is the average export price for magnesium in Colombia?

The average magnesium export price stood at $4,126 per ton in 2021, which is down by -31.5% against the previous year.

What is the average import price for magnesium in Colombia?

In 2021, the average magnesium import price amounted to $2,456 per ton, picking up by 11% against the previous year.

This report provides an in-depth analysis of the magnesium market in Colombia. 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:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023