Eastern Europe: Magnesium Market 2024

Magnesium Market Size in Eastern Europe

The East European magnesium market expanded remarkably to $X in 2021, growing by 5.4% against the previous year. Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Magnesium Production in Eastern Europe

In value terms, magnesium production contracted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a slight contraction. The pace of growth was the most pronounced in 2018 when the production volume increased by 40% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Magnesium Exports

Exports in Eastern Europe

In 2021, overseas shipments of magnesium increased by 34% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, magnesium exports skyrocketed to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value 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. Based on 2021 figures, exports increased by +70.8% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Czech Republic represented the main exporter of magnesium in Eastern Europe, with the volume of exports resulting at X tons, which was near 46% of total exports in 2021. Russia (X tons) ranks second in terms of the total exports with a 24% share, followed by Hungary (18%) and Romania (4.6%). Ukraine (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ukraine (with a CAGR of +112.3%), while the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Russia ($X) and Hungary ($X) constituted the countries with the highest levels of exports in 2021, together comprising 91% of total exports. Romania and Ukraine lagged somewhat behind, together comprising a further 5.7%.

Among the main exporting countries, Ukraine, with a CAGR of +94.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, increasing by 9.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2020 an increase of 12%. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+4.7%), while the other leaders experienced more modest paces of growth.

Magnesium Imports

Imports in Eastern Europe

In 2021, approx. X tons of magnesium were imported in Eastern Europe; growing by 27% on 2020 figures. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.3% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of 28%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, magnesium imports skyrocketed to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +95.8% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of magnesium, namely Romania, Russia and Poland, represented more than two-thirds of total import. The Czech Republic (X tons) ranks next in terms of the total imports with a 12% share, followed by Hungary (5.3%) and Bulgaria (4.8%). Slovakia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Russia (with a CAGR of +22.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Russia ($X) and Poland ($X) constituted the countries with the highest levels of imports in 2021, with a combined 74% share of total imports.

Among the main importing countries, Russia, with a CAGR of +25.9%, saw the highest rates of growth with regard to 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 Eastern Europe amounted to $X per ton, surging by 32% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Russia ($X per ton) and the Czech Republic ($X per ton), while Romania ($X per ton) and Hungary ($X per ton) were 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 a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :