SADC: Magnesite Market 2024

Magnesite Market Size in SADC

The SADC magnesite market stood at $X in 2021, with an increase of 4.4% against the previous year. Overall, consumption, however, saw a perceptible shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Magnesite Production in SADC

In value terms, magnesite production contracted to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of 22%. The level of production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Magnesite Exports

Exports in SADC

In 2021, overseas shipments of magnesite decreased by -27.9% to X tons, falling for the fifth year in a row after two years of growth. In general, exports faced a deep slump. The most prominent rate of growth was recorded in 2016 when exports increased by 71% 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 lower figure.

In value terms, magnesite exports reduced remarkably to $X in 2021. Over the period under review, exports showed a sharp setback. The pace of growth appeared the most rapid in 2016 with an increase of 112%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, South Africa (X tons) and Zambia (X tons) represented the main exporters of magnesite in SADC, together mixing up 89% of total exports. It was distantly followed by Zimbabwe (X tons), mixing up an 11% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Zambia (with a CAGR of -11.5%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Zambia ($X) remains the largest magnesite supplier in SADC, comprising 65% of total exports. The second position in the ranking was taken by South Africa ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Zambia amounted to -15.2%. In the other countries, the average annual rates were as follows: South Africa (-28.5% per year) and Zimbabwe (-19.9% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2021, which is down by -28.1% against the previous year. Over the period under review, the export price recorded a perceptible decrease. The most prominent rate of growth was recorded in 2016 when the export price increased by 24%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Zimbabwe (+11.8%), while the other leaders experienced a decline in the export price figures.

Magnesite Imports

Imports in SADC

In 2021, overseas purchases of magnesite increased by 3.2% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2013 when imports increased by 23% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, magnesite imports declined to $X in 2021. Over the period under review, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2015 with an increase of 62% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

South Africa was the main importer of magnesite in SADC, with the volume of imports amounting to X tons, which was approx. 65% of total imports in 2021. Swaziland (X tons) took the second position in the ranking, followed by Democratic Republic of the Congo (X tons). All these countries together took approx. 28% share of total imports. The following importers - Zambia (X tons) and Mozambique (X tons) - together made up 4.8% of total imports.

From 2012 to 2021, average annual rates of growth with regard to magnesite imports into South Africa stood at -5.9%. At the same time, Swaziland (+19.8%), Zambia (+12.3%) and Mozambique (+10.9%) displayed positive paces of growth. Moreover, Swaziland emerged as the fastest-growing importer imported in SADC, with a CAGR of +19.8% from 2012-2021. By contrast, Democratic Republic of the Congo (-15.1%) illustrated a downward trend over the same period. While the share of Swaziland (+13 p.p.), Zambia (+2.5 p.p.) and South Africa (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Democratic Republic of the Congo (-19.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X), Democratic Republic of the Congo ($X) and Zambia ($X) were the countries with the highest levels of imports in 2021, with a combined 93% share of total imports. These countries were followed by Mozambique and Swaziland, which together accounted for a further 4.7%.

Among the main importing countries, Mozambique, with a CAGR of +17.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in SADC amounted to $X per ton, which is down by -11.8% against the previous year. Over the period under review, the import price saw a perceptible setback. The most prominent rate of growth was recorded in 2019 when the import price increased by 50% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while Swaziland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mozambique (+5.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform