United Kingdom: Market for Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium 2024

Market Size for Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium in the UK

In 2022, the UK magnesium hydroxide and peroxide market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, showed a perceptible reduction. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium

Exports from the UK

In 2022, the amount of hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium exported from the UK skyrocketed to X tons, with an increase of 34% on the previous year. Over the period under review, total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -21.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 48% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, magnesium hydroxide and peroxide exports soared to $X in 2022. In general, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 69%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Thailand (X tons) was the main destination for magnesium hydroxide and peroxide exports from the UK, with a 58% share of total exports. Moreover, magnesium hydroxide and peroxide exports to Thailand exceeded the volume sent to the second major destination, the Netherlands (X tons), eightfold. Germany (X tons) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand totaled +24.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+35.7% per year) and Germany (+28.9% per year).

In value terms, Thailand ($X) remains the key foreign market for hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium exports from the UK, comprising 31% of total exports. The second position in the ranking was taken by the United States ($X), with a 9.2% share of total exports. It was followed by France, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value to Thailand totaled +27.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+44.9% per year) and France (+28.8% per year).

Export Prices by Country

In 2022, the average magnesium hydroxide and peroxide export price amounted to $X per ton, which is down by -1.9% against the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, magnesium hydroxide and peroxide export price increased by +50.2% against 2017 indices. The pace of growth appeared the most rapid in 2021 an increase of 52% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped slightly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium

Imports into the UK

In 2022, purchases abroad of hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium increased by 48% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a relatively flat trend pattern. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, magnesium hydroxide and peroxide imports reached $X in 2022. In general, imports, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 56% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Ireland (X tons) constituted the largest magnesium hydroxide and peroxide supplier to the UK, with a 38% share of total imports. Moreover, magnesium hydroxide and peroxide imports from Ireland exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from Ireland stood at -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+3.9% per year) and the Netherlands (+8.1% per year).

In value terms, the largest magnesium hydroxide and peroxide suppliers to the UK were China ($X), Mexico ($X) and Ireland ($X), with a combined 67% share of total imports. The Netherlands, Sweden, Austria, the United States and Germany lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, Sweden, with a CAGR of +126.8%, saw the highest rates of growth with regard to 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

In 2022, the average magnesium hydroxide and peroxide import price amounted to $X per ton, reducing by -29.6% against the previous year. Over the period under review, the import price continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2014 an increase of 15% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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