Report Update Nov 1, 2024

Hong Kong SAR, China - Magnesium - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Magnesium Market 2024

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

Frequently Asked Questions (FAQ) :

What are the largest markets for magnesium in the world?

China constituted the country with the largest volume of magnesium consumption, comprising approx. 54% of total volume. Moreover, magnesium consumption in China exceeded the figures recorded by the second-largest consumer, Russia, ninefold. Japan ranked third in terms of total consumption with a 5.7% share.

What are the largest producers of magnesium in the world?

China remains the largest magnesium producing country worldwide, comprising approx. 86% of total volume. Moreover, magnesium production in China exceeded the figures recorded by the second-largest producer, Russia, more than tenfold. Kazakhstan ranked third in terms of total production with a 2.1% share.

What are the leading suppliers of magnesium to Hong Kong SAR, China?

In value terms, Germany constituted the largest supplier of magnesium to Hong Kong SAR, comprising 93% of total imports. The second position in the ranking was occupied by China, with a 4.5% share of total imports.

What are the leading importers of magnesium from Hong Kong SAR, China?

In value terms, the largest markets for magnesium exported from Hong Kong SAR were Norway, the United States and India, together accounting for 60% of total exports. These countries were followed by Australia, Canada, Romania, Sweden, Belgium, Switzerland, Hungary, Thailand and Germany, which together accounted for a further 38%.

What is the average export price for magnesium in Hong Kong SAR, China?

In 2021, the average magnesium export price amounted to $2,606 per ton, with an increase of 9.6% against the previous year.

What is the average import price for magnesium in Hong Kong SAR, China?

In 2021, the average magnesium import price amounted to $3,874 per ton, waning by -25.7% against the previous year.

This report provides an in-depth analysis of the magnesium market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023