United Kingdom: Magnesite Market 2024

Magnesite Market Size in the UK

The UK magnesite market surged to $X in 2021, jumping by 20% 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 buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.8% 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 decreased by -8.3% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Magnesite Exports

Exports from the UK

In 2021, magnesite exports from the UK shrank to X tons, which is down by -11.9% on the year before. Over the period under review, exports faced a precipitous decrease. The pace of growth appeared the most rapid in 2016 with an increase of 70%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, magnesite exports contracted markedly to $X in 2021. Overall, exports recorded a deep contraction. The growth pace was the most rapid in 2013 when exports increased by 56%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

France (X tons), India (X tons) and Trinidad and Tobago (X tons) were the main destinations of magnesite exports from the UK, with a combined 52% share of total exports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +207.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for magnesite exports from the UK, comprising 51% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total exports. It was followed by Austria, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to France stood at +180.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+86.4% per year) and Austria (+137.0% per year).

Export Prices by Country

In 2021, the average magnesite export price amounted to $X per ton, dropping by -6% against the previous year. Over the period under review, the export price, however, showed buoyant growth. The growth pace was the most rapid in 2020 when the average export price increased by 131% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Ireland ($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 Turkey (+7.5%), while the prices for the other major destinations experienced mixed trend patterns.

Magnesite Imports

Imports into the UK

In 2021, imports of magnesite into the UK rose sharply to X tons, surging by 11% against the year before. In general, total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +3.9% 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 decreased by -6.0% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 107% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, magnesite imports soared to $X in 2021. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -12.5% against 2019 indices. The pace of growth was the most pronounced in 2019 when imports increased by 54%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey (X tons), Germany (X tons) and Ireland (X tons) were the main suppliers of magnesite imports to the UK, with a combined 97% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +63.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest magnesite suppliers to the UK were Germany ($X), Turkey ($X) and Spain ($X), together accounting for 90% of total imports.

In terms of the main suppliers, Germany, with a CAGR of +46.6%, recorded the highest growth rate of 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 magnesite import price stood at $X per ton in 2021, with an increase of 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2018 when the average import price increased by 49%. As a result, import price attained the peak level of $X per ton. From 2019 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 Spain ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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