Europe: Magnesium Market 2024

Magnesium Market Size in Europe

The Europe magnesium market surged to $X in 2021, jumping by 23% against the previous year. The market value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Magnesium Production in Europe

In value terms, magnesium production rose sharply to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 73% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Magnesium Exports

Exports in Europe

In 2021, magnesium exports in Europe skyrocketed to X tons, jumping by 16% compared with 2020 figures. Overall, exports showed a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of 68%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, magnesium exports soared to $X in 2021. In general, exports recorded a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands dominates exports structure, amounting to X tons, which was near 59% of total exports in 2021. The Czech Republic (X tons) took a 9.9% share (based on physical terms) of total exports, which put it in second place, followed by Russia (5.2%). Germany (X tons), Hungary (X tons), Slovenia (X tons), Croatia (X tons), Belgium (X tons) and Italy (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to magnesium exports from the Netherlands stood at +31.9%. At the same time, Croatia (+85.0%), Slovenia (+14.7%), Italy (+8.9%), Russia (+5.5%) and the Czech Republic (+5.5%) displayed positive paces of growth. Moreover, Croatia emerged as the fastest-growing exporter exported in Europe, with a CAGR of +85.0% from 2012-2021. By contrast, Hungary (-1.6%), Belgium (-4.2%) and Germany (-9.6%) illustrated a downward trend over the same period. The Netherlands (+49 p.p.), Croatia (+3.6 p.p.) and Slovenia (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while the Czech Republic, Hungary, Belgium and Germany saw its share reduced by -2.2%, -4.9%, -6.3% and -16.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest magnesium supplier in Europe, comprising 52% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with an 8.8% share of total exports. It was followed by Russia, with a 6% share.

From 2012 to 2021, the average annual growth rate of value in the Netherlands totaled +30.2%. In the other countries, the average annual rates were as follows: the Czech Republic (+7.4% per year) and Russia (+8.2% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2021, with an increase of 30% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.8%), while the other leaders experienced more modest paces of growth.

Magnesium Imports

Imports in Europe

In 2021, imports of magnesium in Europe amounted to X tons, picking up by 15% compared with the previous year's figure. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.0% 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 +37.5% against 2018 indices. The pace of growth appeared the most rapid in 2020 with an increase of 20%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain 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 +5.8% 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 +92.2% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons), distantly followed by Germany (X tons), Norway (X tons), Romania (X tons), France (X tons) and Italy (X tons) represented the key importers of magnesium, together constituting 67% of total imports. Spain (X tons), Russia (X tons), Austria (X tons), Poland (X tons), Belgium (X tons), Greece (X tons) and Slovenia (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 leading importing countries, was attained by the Netherlands (with a CAGR of +30.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constitutes the largest market for imported magnesium in Europe, comprising 30% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by Norway, with a 6.9% share.

In the Netherlands, magnesium imports increased at an average annual rate of +29.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+0.2% per year) and Norway (+2.2% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2021, picking up by 40% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Russia ($X per ton) and France ($X per ton), while Romania ($X per ton) and Poland ($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 more modest paces of growth.

Source: IndexBox Platform