Report Update Nov 1, 2024

Norway - Magnesium - Market Analysis, Forecast, Size, Trends and Insights

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Norway: Magnesium Market 2024

Magnesium Market Size in Norway

In 2021, the Norwegian magnesium market increased by 69% to $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern 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 Norway

In 2021, exports of magnesium from Norway contracted to X tons, dropping by -10.8% compared with 2020 figures. In general, exports showed a noticeable slump. The growth pace was the most rapid in 2019 when exports increased by 233% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, magnesium exports totaled $X in 2021. Overall, exports showed a noticeable setback. The pace of growth was the most pronounced in 2019 when exports increased by 252% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Slovakia (X tons) was the main destination for magnesium exports from Norway, with a 90% share of total exports. Moreover, magnesium exports to Slovakia exceeded the volume sent to the second major destination, Germany (X tons), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Slovakia stood at -2.6%.

In value terms, Slovakia ($X) remains the key foreign market for magnesium exports from Norway, comprising 93% of total exports. The second position in the ranking was held by Germany ($X), with a 6.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Slovakia stood at -3.5%.

Export Prices by Country

In 2021, the average magnesium export price amounted to $X per ton, jumping by 23% against the previous year. Overall, the export price, however, recorded a mild setback. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (-1.0%).

Magnesium Imports

Imports into Norway

In 2021, overseas purchases of magnesium increased by 38% to X tons for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. 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, total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% 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.

Imports by Country

In 2021, China (X tons) was the main magnesium supplier to Norway, with a 91% share of total imports. Moreover, magnesium imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+1,681.7% per year) and Spain (+42.1% per year).

In value terms, China ($X) constituted the largest supplier of magnesium to Norway, comprising 90% of total imports. The second position in the ranking was taken by Turkey ($X), with a 5.2% share of total imports. It was followed by Spain, with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+1,922.9% per year) and Spain (+43.8% per year).

Import Prices by Country

In 2021, the average magnesium import price amounted to $X per ton, surging by 37% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for magnesium in the world?

The country with the largest volume of magnesium consumption was China, 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 constituted the country with the largest volume of magnesium production, accounting for 86% of total volume. Moreover, magnesium production in China exceeded the figures recorded by the second-largest producer, Russia, more than tenfold. The third position in this ranking was occupied by Kazakhstan, with a 2.1% share.

What are the leading suppliers of magnesium to Norway?

In value terms, China constituted the largest supplier of magnesium to Norway, comprising 65% of total imports. The second position in the ranking was occupied by Russia, with a 19% share of total imports. It was followed by the Netherlands, with a 6.9% share.

What are the leading importers of magnesium from Norway?

In value terms, Slovakia remains the key foreign market for magnesium exports from Norway, comprising 96% of total exports. The second position in the ranking was occupied by Germany, with a 2.8% share of total exports.

What is the average export price for magnesium in Norway?

In 2021, the average magnesium export price amounted to $2,920 per ton, growing by 23% against the previous year.

What is the average import price for magnesium in Norway?

In 2021, the average magnesium import price amounted to $2,355 per ton, approximately mirroring the previous year.

This report provides an in-depth analysis of the magnesium market in Norway. 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:

Norway

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Norway
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