Puerto Rico: Magnesite Market 2024

Magnesite Market Size in Puerto Rico

The Puerto Rican magnesite market amounted to less than $X in 2021, standing approx. at 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). In general, consumption recorded a relatively flat trend pattern.

Magnesite Exports

Exports from Puerto Rico

In 2021, exports of magnesite from Puerto Rico totaled less than X kg, leveling off at the year before. Overall, exports continue to indicate a relatively flat trend pattern.

In value terms, magnesite exports amounted to less than $X in 2021. In general, exports continue to indicate a relatively flat trend pattern.

Exports by Country

China prevails in exports structure, amounting to X tons, which was approx. 75% of total exports in 2021. It was distantly followed by Turkey (X tons), making up a 5.6% share of total exports. Spain (X tons), Finland (X tons), Australia (X tons), Slovakia (X tons), Pakistan (X tons), South Africa (X tons) and Guatemala (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to magnesite exports from China stood at +192.3%. At the same time, Finland (+294.2%), Spain (+56.4%), Australia (+41.1%), Slovakia (+37.4%), Pakistan (+30.2%) and Turkey (+12.9%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in the world, with a CAGR of +294.2% from 2012-2021. By contrast, Guatemala (-2.7%) and South Africa (-19.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, Finland and Spain increased by +75, +3.5 and +2.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Spain ($X) and Turkey ($X) constituted the countries with the highest levels of exports in 2021, with a combined 59% share of total exports. Australia, Slovakia, Pakistan, Guatemala, Finland and South Africa lagged somewhat behind, together comprising a further 16%.

Finland, with a CAGR of +150.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, remaining stable against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+0.8%), while the other leaders experienced a decline in the export price figures.

Magnesite Imports

Imports into Puerto Rico

Magnesite imports into Puerto Rico amounted to less than X kg in 2021, flattening at the year before. Over the period under review, imports continue to indicate a relatively flat trend pattern.

In value terms, magnesite imports totaled less than $X in 2021. In general, imports saw a relatively flat trend pattern.

Imports by Country

In 2021, Japan (X tons) and Taiwan (Chinese) (X tons) represented the key importers of magnesitein the world, together finishing at near 48% of total imports. Indonesia (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by India (10%) and Greece (6.4%). The United States (X tons), China (X tons), Poland (X tons), New Zealand (X tons), Italy (X tons) and South Africa (X tons) took a minor share of total imports.

From 2012 to 2021, magnesite imports into expanded with a Japan of +86.9%, while Taiwan (Chinese) (-47.5%) experienced a sharp downturn unchanged over the same period. At the same time, China (+52.5%), India (+39.4%), Poland (+32.2%), Indonesia (+22.7%), Greece (+15.6%) and the United States (+8.2%) displayed positive paces of growth. By contrast, South Africa (-5.9%), Italy (-7.8%) and New Zealand (-11.1%) illustrated a downward trend over the same period. While the share of Japan (+47 p.p.), India (+8.4 p.p.), Indonesia (+7.3 p.p.) and China (+2.5 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of the United States (-2 p.p.), South Africa (-3.6 p.p.), Italy (-4.5 p.p.), New Zealand (-4.8 p.p.) and Taiwan (Chinese) (-31.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported magnesite into Puerto Rico, comprising 30% of global imports. The second position in the ranking was held by Japan ($X), with a 13% share of global imports. It was followed by the United States, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Indonesia totaled +16.9%. In the other countries, the average annual rates were as follows: Japan (+49.9% per year) and the United States (+2.1% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, approximately equating the previous year. Over the period under review, the import price recorded a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+20.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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