Report Update Nov 1, 2024

Sri Lanka - Magnesite - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Magnesite Market 2024

Magnesite Market Size in Sri Lanka

In 2021, the Sri Lankan magnesite market decreased by -21.5% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption saw a pronounced descent. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Magnesite Production in Sri Lanka

In value terms, magnesite production reduced to $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible setback. The pace of growth was the most pronounced in 2016 with an increase of 16%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Magnesite Exports

Exports from Sri Lanka

In 2016, exports of magnesite from Sri Lanka skyrocketed to X tons, rising by 740% compared with 2015 figures. Over the period under review, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, magnesite exports skyrocketed to $X in 2016. Overall, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X tons) was the main destination for magnesite exports from Sri Lanka, with a approx. 100% share of total exports.

From 2015 to 2016, the average annual growth rate of volume to Singapore was relatively modest.

In value terms, Singapore ($X) emerged as the key foreign market for magnesite exports from Sri Lanka.

From 2015 to 2016, the average annual growth rate of value to Singapore was relatively modest.

Export Prices by Country

In 2016, the average magnesite export price amounted to $X per ton, surging by 57% against the previous year. Over the period under review, export price indicated a significant increase from 2015 to 2016: its price increased at an average annual rate of +57.0% over the last one-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2015 to 2016, the rate of growth in terms of prices for Singapore amounted to 0.0% per year.

Magnesite Imports

Imports into Sri Lanka

In 2021, overseas purchases of magnesite decreased by -34.3% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 946%. 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 contracted to $X in 2021. In general, imports recorded a deep contraction. The pace of growth was the most pronounced in 2014 when imports increased by 1,332% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Malaysia (X tons), India (X tons) and Italy (X kg) were the main suppliers of magnesite imports to Sri Lanka, together comprising 100% of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +12.2%), while purchases for the other leaders experienced a decline.

In value terms, India ($X), Malaysia ($X) and Italy ($X) appeared to be the largest magnesite suppliers to Sri Lanka, together accounting for 100% of total imports.

India, with a CAGR of +3.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average magnesite import price amounted to $X per ton, picking up by 40% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 50% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+22.7%), 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 third position in this ranking was occupied by the United Arab Emirates, with a 6.2% share.

What are the largest producers of magnesite in the world?

China constituted the country with the largest volume of magnesite production, accounting for 57% of total volume. Moreover, magnesite production in China exceeded the figures recorded by the second-largest producer, Turkey, fivefold. The third position in this ranking was occupied by Spain, with a 7.3% share.

What are the leading suppliers of magnesite to Sri Lanka?

In value terms, India $32) constituted the largest supplier of magnesite to Sri Lanka.

What is the average export price for magnesite in Sri Lanka?

The average magnesite export price stood at $1,188 per ton in 2015, therefore, remained relatively stable against the previous year.

What is the average import price for magnesite in Sri Lanka?

In 2020, the average magnesite import price amounted to $10,667 per ton, rising by 260% against the previous year.

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

Sri Lanka

Data coverage:

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