Europe: Magnesite Market 2024

Magnesite Market Size in Europe

In 2021, the Europe magnesite market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, saw a mild reduction. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Magnesite Production in Europe

In value terms, magnesite production fell slightly to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2014 when the production volume increased by 32% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Magnesite Exports

Exports in Europe

In 2021, shipments abroad of magnesite decreased by -25.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 152% against the previous year. The volume of export peaked at X tons in 2020, and then declined significantly in the following year.

In value terms, magnesite exports surged to $X in 2021. In general, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by 81%. 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

The biggest shipments were from Spain (X tons), Finland (X tons) and Slovakia (X tons), together amounting to 83% of total export. It was distantly followed by Russia (X tons), generating a 12% share of total exports.

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 ($X) remains the largest magnesite supplier in Europe, comprising 53% of total exports. The second position in the ranking was taken by Russia ($X), with a 14% share of total exports. It was followed by Slovakia, with a 7.9% share.

In Spain, magnesite exports increased at an average annual rate of +57.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Russia (+36.3% per year) and Slovakia (+17.3% per year).

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, jumping by 68% against the previous year. Over the period under review, the export price, however, saw a abrupt contraction. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat 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 Europe

In 2021, approx. X tons of magnesite were imported in Europe; growing by 17% compared with 2020. Overall, imports saw a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 71% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, magnesite imports surged to $X in 2021. Over the period under review, imports saw a pronounced expansion. The growth pace was the most rapid in 2019 when imports increased by 64%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

Greece represented the main importing country with an import of around X tons, which accounted for 44% of total imports. Poland (X tons) held the second position in the ranking, followed by Spain (X tons), the UK (X tons) and Italy (X tons). All these countries together took approx. 31% 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) followed a long way behind the leaders.

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%), Austria (+7.7%) and the UK (+3.9%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in Europe, 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 (+23 p.p.), Poland (+11 p.p.) and Spain (+3.4 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 -3.8%, -3.9%, -4.5%, -4.9% and -14.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest magnesite importing markets in Europe were Greece ($X), the Netherlands ($X) and Ireland ($X), with a combined 38% share of total imports.

The Netherlands, with a CAGR of +53.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 Europe amounted to $X per ton, increasing by 5.7% against the previous year. Overall, the import price, however, recorded a slight slump. The most prominent rate of growth was recorded in 2017 an increase of 11%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: 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