Cyprus: Magnesite Market 2020

Magnesite Market Size in Cyprus

The revenue of the magnesite market in Cyprus amounted to $X in 2018, lowering by -X% against the previous year. In general, magnesite consumption continues to indicate a drastic decline. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the magnesite market reached its peak figure level at $X in 2016; however, from 2017 to 2018, consumption failed to regain its momentum.

Magnesite Production in Cyprus

In value terms, magnesite production amounted to $X in 2018 estimated in export prices. Overall, magnesite production continues to indicate a sharp slump. Over the period under review, magnesite production attained its peak figure level at $X in 2016; however, from 2017 to 2018, production stood at a somewhat lower figure.

Magnesite Exports

Exports from Cyprus

In 2018, the amount of magnesite exported from Cyprus stood at X tons, standing approx. at the previous year. In general, magnesite exports continue to indicate extraordinary growth. In that year, magnesite exports attained their peak and are likely to continue its growth in the immediate term.

In value terms, magnesite exports amounted to $X in 2018. Overall, magnesite exports continue to indicate a skyrocketing expansion. In that year, magnesite exports reached their peak and are likely to continue its growth in the immediate term.

Exports by Country

In 2018, China (X tons) represented the main exporter of magnesite, comprising X% of total exports. Turkey (X tons) ranks second in terms of the total exports with a X% share, followed by Pakistan (X%), Guatemala (X%), South Africa (X%), Russia (X%) and Ireland (X%). The following exporters - Germany (X tons), Slovakia (X tons), Zambia (X tons), Australia (X tons) and Zimbabwe (X tons) - together made up X% of total exports.

Exports from China decreased at an average annual rate of -X% from 2007 to 2018. At the same time, Pakistan (+X%), Australia (+X%), Russia (+X%), Zambia (+X%), Ireland (+X%), South Africa (+X%), Zimbabwe (+X%), Guatemala (+X%), Slovakia (+X%), Germany (+X%) and Turkey (+X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Pakistan (+X p.p.), Russia (+X p.p.), South Africa (+X p.p.), Ireland (+X p.p.), Guatemala (+X p.p.), Turkey (+X p.p.), Zambia (+X p.p.), Germany (+X p.p.), Slovakia (+X p.p.) and Australia (+X p.p.) significantly strengthened its position in terms of the global exports, while China saw its share reduced by -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest magnesite supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by South Africa ($X), with a X% share of global exports. It was followed by Ireland, with a X% share.

In China, magnesite exports expanded at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: South Africa (+X% per year) and Ireland (+X% per year).

Export Prices by Country

In 2018, the magnesite export price in Cyprus amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the magnesite export price continues to indicate a dramatic deduction. Over the period under review, the export prices for magnesite reached their peak figure at $X per ton in 2016; however, from 2017 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Zambia ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Magnesite Imports

Imports into Cyprus

Magnesite imports into Cyprus amounted to X kg in 2018, coming down by -X% against the previous year. In general, magnesite imports continue to indicate a drastic downturn. The growth pace was the most rapid in 2010 when imports increased by X% y-o-y. Over the period under review, magnesite imports reached their peak figure at X kg in 2011; however, from 2012 to 2018, imports failed to regain their momentum.

In value terms, magnesite imports totaled $X in 2018. Over the period under review, magnesite imports continue to indicate an abrupt curtailment. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, magnesite imports attained their peak figure at $X in 2011; however, from 2012 to 2018, imports remained at a lower figure.

Imports by Country

India (X tons) and the U.S. (X tons) represented roughly X% of total imports of magnesite in 2018. It was distantly followed by Democratic Republic of the Congo (X tons), mixing up a X% share of total imports. South Africa (X tons), Malaysia (X tons), Zambia (X tons), Poland (X tons), Ireland (X tons), New Zealand (X tons), Germany (X tons), the Czech Republic (X tons) and Italy (X tons) held a relatively small share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Poland, while the other leaders experienced more modest paces of growth.

In value terms, the largest magnesite importing markets into Cyprus were Democratic Republic of the Congo ($X), India ($X) and Zambia ($X), together accounting for X% of total imports. The U.S., Ireland, Germany, Malaysia, South Africa, New Zealand, the Czech Republic, Poland, Italy and Cyprus lagged somewhat behind, together comprising a further X recorded the highest rates of growth with regard to imports, in terms of the main importing countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the magnesite import price in Cyprus amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the magnesite import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X% against the previous year. In that year, the import prices for magnesite attained their peak level of $X per ton. From 2015 to 2018, the growth in terms of the import prices for magnesite remained at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Zambia ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Democratic Republic of the Congo, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform