Hong Kong SAR, China: Magnesium Market 2025

Magnesium Market Size in Hong Kong SAR, China

The Hong Kong magnesium market fell remarkably to $X in 2021, waning by -18.3% against the previous year. In general, consumption recorded a abrupt decrease. Magnesium consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Magnesium Production in Hong Kong SAR, China

In value terms, magnesium production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 3.6% against the previous year. Magnesium production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Magnesium Exports

Exports from Hong Kong SAR, China

In 2021, approx. X tons of magnesium were exported from Hong Kong SAR; growing by 35% on 2020 figures. Over the period under review, exports showed a prominent increase. The pace of growth was the most pronounced in 2014 when exports increased by 524%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, magnesium exports soared to $X in 2021. Overall, exports showed resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 496%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), India (X tons) and Norway (X tons) were the main destinations of magnesium exports from Hong Kong SAR, with a combined 72% share of total exports. These countries were followed by Romania, Belgium, Morocco, Hungary, Germany and the UK, which together accounted for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Morocco (with a CAGR of +385.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for magnesium exported from Hong Kong SAR were the United States ($X), India ($X) and Norway ($X), with a combined 70% share of total exports. Romania, Morocco, Belgium, Hungary, Germany and the UK lagged somewhat behind, together comprising a further 23%.

Among the main countries of destination, Morocco, with a CAGR of +433.7%, 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 average magnesium export price stood at $X per ton in 2021, with an increase of 13% against the previous year. In general, the export price, however, saw a perceptible shrinkage. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Magnesium Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of magnesium was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 887% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, magnesium imports skyrocketed to $X in 2021. Overall, imports, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2018 when imports increased by 1,085% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of magnesium to Hong Kong SAR, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -11.7%.

In value terms, China ($X) constituted the largest supplier of magnesium to Hong Kong SAR.

From 2012 to 2021, the average annual growth rate of value from China totaled -14.2%.

Import Prices by Country

The average magnesium import price stood at $X per ton in 2021, waning by -1.5% against the previous year. In general, the import price continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 20%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -2.9% per year.

Source: IndexBox Platform

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