Report Update Nov 1, 2024

South Africa - Magnesium - Market Analysis, Forecast, Size, Trends and Insights

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South Africa: Magnesium Market 2024

Magnesium Market Size in South Africa

The South African magnesium market surged to $X in 2021, picking up by 36% 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). In general, consumption, however, continues to indicate a slight decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Magnesium Exports

Exports from South Africa

In 2021, approx. X tons of magnesium were exported from South Africa; declining by -42.1% on the previous year. Overall, exports, however, enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2014 when exports increased by 19,947% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, magnesium exports fell notably to $X in 2021. Over the period under review, exports, however, recorded strong growth. The growth pace was the most rapid in 2014 when exports increased by 6,717%. The exports peaked at $X in 2020, and then fell notably in the following year.

Exports by Country

The United States (X tons), the UK (X tons) and Mauritius (X kg) were the main destinations of magnesium exports from South Africa, with a combined 99% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mauritius (with a CAGR of +221.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for magnesium exports from South Africa, comprising 62% of total exports. The second position in the ranking was held by Mauritius ($X), with a 31% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritius (+1,484.1% per year) and the UK (-59.2% per year).

Export Prices by Country

In 2021, the average magnesium export price amounted to $X per ton, with a decrease of -11.7% against the previous year. In general, the export price, however, saw resilient growth. The pace of growth was the most pronounced in 2017 when the average export price increased by 1,363% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mauritius ($X per ton), while the average price for exports to the UK ($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 Mauritius (+392.7%), while the prices for the other major destinations experienced more modest paces of growth.

Magnesium Imports

Imports into South Africa

In 2021, approx. X tons of magnesium were imported into South Africa; picking up by 15% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 37% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, magnesium imports surged to $X in 2021. In general, imports, however, saw a noticeable curtailment. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of magnesium to South Africa, accounting for a approx. 99.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of magnesium to South Africa.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -2.1%.

Import Prices by Country

In 2021, the average magnesium import price amounted to $X per ton, growing by 38% against the previous year. Over the period under review, the import price, however, continues to indicate a mild reduction. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -1.1% per year.

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. The third position in this ranking was occupied by Japan, 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 South Africa?

In value terms, China constituted the largest supplier of magnesium to South Africa.

What are the leading importers of magnesium from South Africa?

In value terms, the UK emerged as the key foreign market for magnesium exports from South Africa, comprising 75% of total exports. The second position in the ranking was occupied by Swaziland, with a 19% share of total exports.

What is the average export price for magnesium in South Africa?

The average magnesium export price stood at $8,417 per ton in 2021, reducing by -16.5% against the previous year.

What is the average import price for magnesium in South Africa?

The average magnesium import price stood at $2,121 per ton in 2021, therefore, remained relatively stable against the previous year.

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

South Africa

Data coverage:

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