India: Magnesium Market 2024

Magnesium Market Size in India

The Indian magnesium market surged to $X in 2021, with an increase of 59% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Magnesium Exports

Exports from India

In 2021, overseas shipments of magnesium were finally on the rise to reach X tons after two years of decline. In general, exports saw prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

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

Exports by Country

The United Arab Emirates (X tons) was the main destination for magnesium exports from India, with a 49% share of total exports. Moreover, magnesium exports to the United Arab Emirates exceeded the volume sent to the second major destination, Bhutan (X tons), threefold. The third position in this ranking was taken by Australia (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates totaled +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bhutan (+18.7% per year) and Australia (+225.5% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for magnesium exports from India, comprising 65% of total exports. The second position in the ranking was taken by Australia ($X), with a 13% share of total exports. It was followed by the Netherlands, with a 7% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at +34.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+225.6% per year) and the Netherlands (0.0% per year).

Export Prices by Country

In 2021, the average magnesium export price amounted to $X per ton, increasing by 89% against the previous year. Over the period under review, the export price showed a resilient expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 97% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Bhutan ($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 Israel (+28.0%), while the prices for the other major destinations experienced more modest paces of growth.

Magnesium Imports

Imports into India

In 2021, imports of magnesium into India surged to X tons, picking up by 26% compared with the previous year's figure. Overall, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +9.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, magnesium imports skyrocketed to $X in 2021. In general, imports recorded a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main supplier of magnesium to India, with a 93% share of total imports. It was followed by Hong Kong SAR (X tons), with a 2.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+39.1% per year) and British Virgin Islands (+121.3% per year).

In value terms, China ($X) constituted the largest supplier of magnesium to India, comprising 94% of total imports. The second position in the ranking was taken by British Virgin Islands ($X), with a 2.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: British Virgin Islands (+149.7% per year) and Hong Kong SAR (+34.0% per year).

Import Prices by Country

In 2021, the average magnesium import price amounted to $X per ton, increasing by 56% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was British Virgin Islands ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by British Virgin Islands (+12.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :