Report Update Nov 1, 2024

Turkey - Magnesite - Market Analysis, Forecast, Size, Trends and Insights

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Turkey: Magnesite Market 2024

Magnesite Market Size in Turkey

In 2021, after two years of decline, there was growth in the Turkish magnesite market, when its value increased by 1.6% to $X. Overall, consumption, however, showed a noticeable reduction. Magnesite consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Magnesite Production in Turkey

In value terms, magnesite production rose significantly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a moderate increase. The most prominent rate of growth was recorded in 2013 with an increase of 149%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Magnesite Exports

Exports from Turkey

In 2021, the amount of magnesite exported from Turkey surged to X tons, picking up by 59% against 2020. Over the period under review, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of 61% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, magnesite exports skyrocketed to $X in 2021. Overall, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 47% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Greece (X tons) was the main destination for magnesite exports from Turkey, accounting for a 67% share of total exports. Moreover, magnesite exports to Greece exceeded the volume sent to the second major destination, Bulgaria (X tons), eightfold. The third position in this ranking was held by Italy (X tons), with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume to Greece stood at +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+64.2% per year) and Italy (-0.7% per year).

In value terms, Greece ($X) remains the key foreign market for magnesite exports from Turkey, comprising 52% of total exports. The second position in the ranking was taken by Spain ($X), with a 13% share of total exports. It was followed by Italy, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Greece totaled +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+10.7% per year) and Italy (+1.1% per year).

Export Prices by Country

The average magnesite export price stood at $X per ton in 2021, which is down by -14.6% against the previous year. Over the period under review, the export price showed a pronounced reduction. The growth pace was the most rapid in 2014 an increase of 10%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

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 Austria ($X per ton), while the average price for exports to the United Arab Emirates ($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 Austria (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Magnesite Imports

Imports into Turkey

In 2021, supplies from abroad of magnesite decreased by -72% to X tons, falling for the second consecutive year after three years of growth. Overall, imports faced a precipitous curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 1,222% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, magnesite imports dropped rapidly to $X in 2021. Over the period under review, imports recorded a sharp decline. The most prominent rate of growth was recorded in 2019 when imports increased by 1,474% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The UK (X tons) and Germany (X tons) were the main suppliers of magnesite imports to Turkey.

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 -20.7%).

In value terms, the largest magnesite suppliers to Turkey were the UK ($X) and Germany ($X).

In terms of the main suppliers, Germany, with a CAGR of -20.1%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2021, the average magnesite import price amounted to $X per ton, growing by 20% against the previous year. In general, the import price recorded a temperate expansion. The pace of growth was the most pronounced in 2016 when the average import price increased by 140%. The import price peaked at $X per ton in 2013; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Germany totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+908.4%), while the prices for the other major suppliers experienced more modest paces of growth.

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, comprising approx. 37% of total volume. Moreover, magnesite consumption in China exceeded the figures recorded by the second-largest consumer, India, fivefold. The United Arab Emirates ranked third in terms of total consumption 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 Turkey?

In value terms, China constituted the largest supplier of magnesite to Turkey, comprising 61% of total imports. The second position in the ranking was occupied by the United States, with a 20% share of total imports. It was followed by Italy, with a 9.2% share.

What are the leading importers of magnesite from Turkey?

In value terms, the largest markets for magnesite exported from Turkey were Greece, the UK and Bulgaria, with a combined 74% share of total exports.

What is the average export price for magnesite in Turkey?

The average magnesite export price stood at $91 per ton in 2020, picking up by 4.6% against the previous year.

What is the average import price for magnesite in Turkey?

In 2020, the average magnesite import price amounted to $235 per ton, waning by -75.1% against the previous year.

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

Turkey

Data coverage:

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