Report Update Nov 1, 2024

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

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Vietnam: Magnesium Market 2024

Magnesium Market Size in Vietnam

The Vietnamese magnesium market skyrocketed to $X in 2021, picking up by 37% 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, consumption posted significant growth. Magnesium consumption peaked in 2021 and is likely to see gradual growth in the near future.

Magnesium Exports

Exports from Vietnam

In 2021, overseas shipments of magnesium increased by 20% to X tons, rising for the third consecutive year after five years of decline. Over the period under review, exports, however, saw a abrupt slump. The growth pace was the most rapid in 2013 with an increase of 68%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, magnesium exports amounted to $X in 2021. In general, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 79%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main destinations of magnesium exports from Vietnam, with a combined 99.9% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of 0.0%), while the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X) constituted the largest markets for magnesium exported from Vietnam worldwide.

Among the main countries of destination, Japan, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average magnesium export price amounted to $X per ton, reducing by -8.1% against the previous year. In general, the export price continues to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2020 an increase of 17% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Indonesia (+18.0%), while the prices for the other major destinations experienced mixed trend patterns.

Magnesium Imports

Imports into Vietnam

In 2021, the amount of magnesium imported into Vietnam surged to X tons, picking up by 21% compared with the previous year's figure. Over the period under review, imports recorded a significant increase. The pace of growth was the most pronounced in 2013 when imports increased by 189% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, magnesium imports skyrocketed to $X in 2021. In general, imports posted a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 171% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest magnesium supplier to Vietnam, accounting for a 76% share of total imports. Moreover, magnesium imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), sixfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +39.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+39.5% per year) and Taiwan (Chinese) (+21.5% per year).

In value terms, China ($X) constituted the largest supplier of magnesium to Vietnam, comprising 75% of total imports. The second position in the ranking was taken by Thailand ($X), with a 13% share of total imports. It was followed by South Korea, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +34.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+34.8% per year) and South Korea (+40.1% per year).

Import Prices by Country

In 2021, the average magnesium import price amounted to $X per ton, with an increase of 16% against the previous year. Overall, the import price, however, recorded a mild shrinkage. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were South Korea ($X per ton) and Thailand ($X per ton), while the price for China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for magnesium in the world?

The country with the largest volume of magnesium consumption was China, comprising approx. 54% of total volume. Moreover, magnesium consumption in China exceeded the figures recorded by the second-largest consumer, Russia, ninefold. Japan ranked third in terms of total consumption with a 5.7% share.

What are the largest producers of magnesium in the world?

China remains the largest magnesium producing country worldwide, accounting for 86% of total volume. Moreover, magnesium production in China exceeded the figures recorded by the second-largest producer, Russia, more than tenfold. Kazakhstan ranked third in terms of total production with a 2.1% share.

What are the leading suppliers of magnesium to Vietnam?

In value terms, China constituted the largest supplier of magnesium to Vietnam, comprising 74% of total imports. The second position in the ranking was occupied by Thailand, with a 13% share of total imports. It was followed by South Korea, with a 9% share.

What are the leading importers of magnesium from Vietnam?

In value terms, Taiwan Chinese) remains the key foreign market for magnesium exports from Vietnam.

What is the average export price for magnesium in Vietnam?

The average magnesium export price stood at $2,544 per ton in 2021, which is down by -3.6% against the previous year.

What is the average import price for magnesium in Vietnam?

In 2021, the average magnesium import price amounted to $2,409 per ton, remaining relatively unchanged against the previous year.

This report provides an in-depth analysis of the magnesium 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:

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