Slovakia: Magnesium Market 2024

Magnesium Market Size in Slovakia

The Slovak magnesium market skyrocketed to $X in 2021, surging by 19% 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 a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +72.3% against 2019 indices. Magnesium consumption peaked in 2021 and is likely to see gradual growth in the near future.

Magnesium Exports

Exports from Slovakia

In 2021, approx. X tons of magnesium were exported from Slovakia; increasing by 142% compared with the year before. In general, exports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2015 when exports increased by 144%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, magnesium exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Austria (X tons), Bosnia and Herzegovina (X tons) and Italy (X tons) were the main destinations of magnesium exports from Slovakia, together comprising 73% of total exports.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +109.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X) emerged as the key foreign market for magnesium exports from Slovakia, comprising 50% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a 23% share of total exports. It was followed by Italy, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value to Austria totaled +106.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+39.3% per year) and Italy (+22.5% per year).

Export Prices by Country

The average magnesium export price stood at $X per ton in 2021, picking up by 15% against the previous year. In general, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, magnesium export price increased by +56.7% against 2019 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by 36%. The export price peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Serbia ($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 France (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Magnesium Imports

Imports into Slovakia

In 2021, approx. X tons of magnesium were imported into Slovakia; rising by 29% against 2020. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +40.9% against 2019 indices. 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. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +54.6% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X tons), Austria (X tons) and Germany (X tons) were the main suppliers of magnesium imports to Slovakia, with a combined 77% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +83.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest magnesium suppliers to Slovakia were Russia ($X), Austria ($X) and Germany ($X), with a combined 75% share of total imports.

In terms of the main suppliers, Russia, with a CAGR of +88.0%, saw the highest rates of growth with regard to 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

The average magnesium import price stood at $X per ton in 2021, jumping by 22% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Sweden ($X per ton) and Slovenia ($X per ton), while the price for Germany ($X per ton) and Austria ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Croatia (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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