Report Update Nov 1, 2024

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

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Vietnam: Magnesite Market 2024

Magnesite Market Size in Vietnam

In 2021, the Vietnamese magnesite market increased by 78% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption, however, showed a abrupt curtailment. Magnesite consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Magnesite Production in Vietnam

In value terms, magnesite production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 47% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Magnesite Exports

Exports from Vietnam

Magnesite exports from Vietnam shrank to X tons in 2021, waning by -6.4% against the previous year. In general, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 19% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, magnesite exports rose significantly to $X in 2021. Overall, exports continue to indicate a deep downturn. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for magnesite exports from Vietnam, with a 98% share of total exports. It was followed by Austria (X tons), with a 2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled -16.1%.

In value terms, Malaysia ($X) remains the key foreign market for magnesite exports from Vietnam, comprising 99% of total exports. The second position in the ranking was held by Austria ($X), with a 1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia totaled -13.3%.

Export Prices by Country

The average magnesite export price stood at $X per ton in 2021, increasing by 21% against the previous year. In general, export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 an increase of 136% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a 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 Malaysia ($X per ton), while the average price for exports to Austria totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+3.7%).

Magnesite Imports

Imports into Vietnam

In 2021, supplies from abroad of magnesite increased by 83% to X tons, rising for the second year in a row after four years of decline. Overall, imports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2020 when imports increased by 1,187%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, magnesite imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of 1,283%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of magnesite imports to Vietnam, together accounting for 46% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of -17.1%), while imports for the other leaders experienced a decline.

In value terms, the Netherlands ($X) constituted the largest supplier of magnesite to Vietnam, comprising 22% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 9.9% share of total imports. It was followed by China, with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands amounted to -12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-20.4% per year) and China (-28.3% per year).

Import Prices by Country

In 2021, the average magnesite import price amounted to $X per ton, growing by 8.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 46%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.3%), 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 constituted the country with the largest volume of magnesite consumption, accounting for 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. Spain ranked third in terms of total production with a 7.3% share.

What are the leading suppliers of magnesite to Vietnam?

In value terms, China constituted the largest supplier of magnesite to Vietnam, comprising 68% of total imports. The second position in the ranking was occupied by Greece, with a 28% share of total imports.

What are the leading importers of magnesite from Vietnam?

In value terms, Malaysia remains the key foreign market for magnesite exports from Vietnam, comprising 84% of total exports. The second position in the ranking was occupied by the Netherlands, with a 15% share of total exports.

What is the average export price for magnesite in Vietnam?

The average magnesite export price stood at $1,840 per ton in 2020, waning by -7.3% against the previous year.

What is the average import price for magnesite in Vietnam?

In 2020, the average magnesite import price amounted to $391 per ton, with a decrease of -18.4% against the previous year.

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

Vietnam

Data coverage:

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