Report Update Nov 1, 2024

Singapore - Magnesite - Market Analysis, Forecast, Size, Trends and Insights

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Singapore: Magnesite Market 2024

Magnesite Market Size in Singapore

The Singaporean magnesite market surged to $X in 2021, jumping by 16% 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, consumption enjoyed a buoyant increase. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Magnesite Exports

Exports from Singapore

Magnesite exports from Singapore dropped notably to X tons in 2021, waning by -50.5% on 2020. Over the period under review, exports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 79%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, magnesite exports contracted remarkably to $X in 2021. In general, exports saw a dramatic shrinkage. The growth pace was the most rapid in 2019 when exports increased by 21%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for magnesite exports from Singapore, with a 95% share of total exports. Moreover, magnesite exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia amounted to -16.3%.

In value terms, Malaysia ($X) emerged as the key foreign market for magnesite exports from Singapore, comprising 91% of total exports. The second position in the ranking was taken by Indonesia ($X), with an 8.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to -13.7%.

Export Prices by Country

The average magnesite export price stood at $X per ton in 2021, jumping by 31% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable decline. The export price peaked at $X per ton in 2018; however, from 2019 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 Indonesia ($X per ton), while the average price for exports to Malaysia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+3.0%).

Magnesite Imports

Imports into Singapore

In 2021, imports of magnesite into Singapore rose significantly to X tons, growing by 13% on 2020 figures. Over the period under review, imports showed a slight increase. The pace of growth appeared the most rapid in 2014 with an increase of 106% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, magnesite imports soared to $X in 2021. In general, imports posted prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 116%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the UK (X tons) constituted the largest supplier of magnesite to Singapore, with a 69% share of total imports. Moreover, magnesite imports from the UK exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK stood at +75.6%.

In value terms, the UK ($X) constituted the largest supplier of magnesite to Singapore, comprising 94% of total imports. The second position in the ranking was held by China ($X), with a 3.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the UK amounted to +67.1%.

Import Prices by Country

The average magnesite import price stood at $X per ton in 2021, rising by 5.1% against the previous year. Over the period under review, the import price enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 when the average import price increased by 243% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 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 China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for magnesite in the world?

China remains the largest magnesite consuming country worldwide, accounting for 37% of total volume. Moreover, magnesite consumption in China exceeded the figures recorded by the second-largest consumer, India, fivefold. The United Arab Emirates ranked third in terms of total consumption with a 6.2% share.

What are the largest producers of magnesite in the world?

China remains the largest magnesite producing country worldwide, comprising approx. 57% of total volume. Moreover, magnesite production in China exceeded the figures recorded by the second-largest producer, Turkey, fivefold. Spain ranked third in terms of total production with a 7.3% share.

What are the leading suppliers of magnesite to Singapore?

In value terms, the UK constituted the largest supplier of magnesite to Singapore, comprising 91% of total imports. The second position in the ranking was occupied by China, with a 4.8% share of total imports. It was followed by India, with a 2.3% share.

What are the leading importers of magnesite from Singapore?

In value terms, Egypt emerged as the key foreign market for magnesite exports from Singapore, comprising 67% of total exports. The second position in the ranking was occupied by Malaysia, with a 31% share of total exports.

What is the average export price for magnesite in Singapore?

In 2020, the average magnesite export price amounted to $894 per ton, which is down by -49.1% against the previous year.

What is the average import price for magnesite in Singapore?

In 2020, the average magnesite import price amounted to $1,791 per ton, growing by 14% against the previous year.

This report provides an in-depth analysis of the magnesite market in Singapore. 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:

UNCode 16390-1 - Magnesite

Country coverage:

Singapore

Data coverage:

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