Spain: Magnesite Market 2024

Magnesite Market Size in Spain

In 2021, the Spanish magnesite market increased by 11% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Magnesite Production in Spain

In value terms, magnesite production dropped modestly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 184%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Magnesite Exports

Exports from Spain

In 2021, shipments abroad of magnesite decreased by -4% to X tons for the first time since 2015, thus ending a five-year rising trend. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 278% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020, and then reduced in the following year.

In value terms, magnesite exports rose to $X in 2021. Over the period under review, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 397%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Ireland (X tons), France (X tons) and the Netherlands (X tons) were the main destinations of magnesite exports from Spain, with a combined 78% share of total exports. These countries were followed by Portugal, the UK, Algeria and Switzerland, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of +263.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), France ($X) and the Netherlands ($X) constituted the largest markets for magnesite exported from Spain worldwide, together accounting for 71% of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +291.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average magnesite export price amounted to $X per ton, rising by 8.4% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 121%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Ireland ($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 the Netherlands (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Magnesite Imports

Imports into Spain

In 2021, magnesite imports into Spain soared to X tons, increasing by 56% on the previous year's figure. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by 498% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, magnesite imports surged to $X in 2021. In general, imports showed a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of 368%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest magnesite supplier to Spain, accounting for a 78% share of total imports. Moreover, magnesite imports from Turkey exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), fivefold. The third position in this ranking was held by Pakistan (X tons), with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+15.2% per year) and Pakistan (-34.7% per year).

In value terms, Turkey ($X) constituted the largest supplier of magnesite to Spain, comprising 54% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 24% share of total imports. It was followed by Pakistan, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+67.8% per year) and Pakistan (+28.0% per year).

Import Prices by Country

In 2021, the average magnesite import price amounted to $X per ton, with a decrease of -7.1% against the previous year. In general, the import price showed a perceptible slump. The most prominent rate of growth was recorded in 2015 an increase of 39%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+96.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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