Italy: Magnesium Market 2024

Magnesium Market Size in Italy

The Italian magnesium market soared to $X in 2021, with an increase of 75% 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). Overall, the total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Magnesium Exports

Exports from Italy

In 2021, overseas shipments of magnesium increased by 73% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports recorded buoyant growth. The pace of growth was the most pronounced in 2016 when exports increased by 168% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, magnesium exports soared to $X in 2021. Over the period under review, exports saw a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Austria (X tons) was the main destination for magnesium exports from Italy, with a 30% share of total exports. Moreover, magnesium exports to Austria exceeded the volume sent to the second major destination, Slovenia (X tons), threefold. The third position in this ranking was taken by Croatia (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Austria totaled +109.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+10.1% per year) and Croatia (+23.5% per year).

In value terms, the largest markets for magnesium exported from Italy were Austria ($X), Germany ($X) and Norway ($X), with a combined 51% share of total exports. These countries were followed by Poland, Slovenia, Croatia, the Czech Republic, Sweden, the UK and Hungary, which together accounted for a further 37%.

In terms of the main countries of destination, Sweden, with a CAGR of +571.3%, 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

In 2021, the average magnesium export price amounted to $X per ton, growing by 48% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2021: its price 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, magnesium export price increased by +91.1% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Sweden ($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 the UK (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Magnesium Imports

Imports into Italy

In 2021, the amount of magnesium imported into Italy soared to X tons, with an increase of 47% compared with the year before. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.3% against 2017 indices. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, magnesium imports soared to $X in 2021. In general, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. 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.

Imports by Country

In 2021, China (X tons) constituted the largest magnesium supplier to Italy, with a 60% share of total imports. Moreover, magnesium imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. Serbia (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+11.6% per year) and Serbia (-9.7% per year).

In value terms, China ($X) constituted the largest supplier of magnesium to Italy, comprising 57% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 13% share of total imports. It was followed by Austria, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+13.2% per year) and Austria (+10.3% per year).

Import Prices by Country

In 2021, the average magnesium import price amounted to $X per ton, with an increase of 53% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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