EU: Magnesite Market 2024

Magnesite Market Size in the EU

In 2021, the EU magnesite market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Magnesite Production in the EU

In value terms, magnesite production shrank modestly to $X in 2021 estimated in export price. In general, production, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 53% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Magnesite Exports

Exports in the EU

In 2021, shipments abroad of magnesite decreased by -34.5% to X tons for the first time since 2011, thus ending a nine-year rising trend. Over the period under review, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 177% against the previous year. The volume of export peaked at X tons in 2020, and then reduced markedly in the following year.

In value terms, magnesite exports totaled $X in 2021. Overall, exports, however, saw a prominent increase. The growth pace was the most rapid in 2014 with an increase of 139% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X tons), Finland (X tons) and Slovakia (X tons) represented roughly 94% of total exports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Finland (with a CAGR of +294.2%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) remains the largest magnesite supplier in the European Union, comprising 63% of total exports. The second position in the ranking was taken by Slovakia ($X), with a 9.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Spain totaled +57.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Slovakia (+17.3% per year) and Finland (+150.8% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, picking up by 67% against the previous year. Overall, the export price, however, continues to indicate a deep slump. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Spain ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+0.8%), while the other leaders experienced a decline in the export price figures.

Magnesite Imports

Imports in the EU

In 2021, the amount of magnesite imported in the European Union surged to X tons, picking up by 37% against 2020. Over the period under review, imports showed strong growth. The most prominent rate of growth was recorded in 2019 when imports increased by 70% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, magnesite imports skyrocketed to $X in 2021. In general, imports showed a perceptible increase. The growth pace was the most rapid in 2019 when imports increased by 68%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Greece represented the key importing country with an import of around X tons, which finished at 48% of total imports. It was distantly followed by Poland (X tons), Spain (X tons) and Italy (X tons), together comprising a 28% share of total imports. Ireland (X tons), Bulgaria (X tons), the Czech Republic (X tons), Germany (X tons), Hungary (X tons), France (X tons), Austria (X tons) and the Netherlands (X tons) took a relatively small share of total imports.

Imports into Greece increased at an average annual rate of +15.6% from 2012 to 2021. At the same time, Poland (+32.2%), the Netherlands (+30.2%), Spain (+14.0%), Hungary (+11.9%), Ireland (+11.8%) and Austria (+7.7%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the European Union, with a CAGR of +32.2% from 2012-2021. By contrast, Bulgaria (-3.3%), Germany (-5.0%), the Czech Republic (-5.2%), France (-6.0%) and Italy (-7.8%) illustrated a downward trend over the same period. Greece (+24 p.p.), Poland (+12 p.p.) and Spain (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while France, Bulgaria, Germany, the Czech Republic and Italy saw its share reduced by -4.5%, -4.6%, -5.2%, -5.7% and -16.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Greece ($X), the Netherlands ($X) and Ireland ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 49% share of total imports.

Among the main importing countries, the Netherlands, with a CAGR of +53.8%, recorded 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 the European Union amounted to $X per ton, reducing by -5.4% against the previous year. Over the period under review, the import price showed a noticeable descent. The pace of growth appeared the most rapid in 2017 an increase of 13% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 the Netherlands ($X per ton), while Greece ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+18.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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