Republic of Korea - Magnesite - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMagnesite Price in South Korea - 2022
Contents:
- Magnesite Price in South Korea (CIF) - 2022
- Magnesite Price in South Korea (FOB) - 2022
- Magnesite Imports in South Korea
- Magnesite Exports in South Korea
Magnesite Price in South Korea (CIF) - 2022
In 2022, the average magnesite import price amounted to $412 per ton, standing approx. at the previous year. Overall, the import price, however, saw a perceptible setback. The growth pace was the most rapid in 2016 an increase of 145% against the previous year. As a result, import price attained the peak level of $750 per ton. From 2017 to 2022, the average import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Greece ($516 per ton), while the price for China ($356 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the prices for the other major suppliers experienced a decline.
Magnesite Price in South Korea (FOB) - 2022
The average magnesite export price stood at $3,235 per ton in 2022, rising by 13% against the previous year. Over the period under review, the export price continues to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2021 an increase of 122% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($8,213 per ton), while the average price for exports to Indonesia ($370 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 China (+25.6%), while the prices for the other major destinations experienced more modest paces of growth.
Magnesite Imports in South Korea
In 2022, after three years of growth, there was significant decline in purchases abroad of magnesite, when their volume decreased by -5.7% to 1.3K tons. Over the period under review, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2020 with an increase of 773%.
In value terms, magnesite imports contracted to $525K in 2022. In general, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 384%.
Import of Magnesite in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 20.0 | 371 | 429 | 407 | 173.0% |
Greece | 23.1 | 39.1 | 39.6 | 37.5 | 17.5% |
Netherlands | 0.6 | 0.1 | 19.4 | 18.4 | 213.0% |
Others | 58.5 | 83.4 | 68.6 | 62.8 | 2.4% |
Total | 102 | 493 | 557 | 525 | 72.7% |
Top Suppliers of Magnesite to South Korea in 2022:
- China (1142.9 tons)
- Greece (72.8 tons)
- Netherlands (36.4 tons)
Magnesite Exports in South Korea
In 2022, overseas shipments of magnesite decreased by -50.3% to 26 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 254%. As a result, the exports attained the peak of 52 tons, and then shrank remarkably in the following year.
In value terms, magnesite exports contracted rapidly to $84K in 2022. Over the period under review, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 687% against the previous year. As a result, the exports attained the peak of $150K, and then dropped rapidly in the following year.
Export of Magnesite in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Malaysia | 2.8 | 14.2 | 117 | 68.1 | 189.7% |
United Arab Emirates | 0.1 | 0.4 | 11.4 | 6.7 | 306.2% |
Indonesia | 1.2 | 1.6 | 5.7 | 5.1 | 62.0% |
China | 0.4 | 2.0 | 1.4 | 2.8 | 91.3% |
Vietnam | 0.1 | 0.6 | 2.4 | 1.4 | 141.0% |
Others | 0.5 | 0.2 | 12.1 | 0.3 | -15.7% |
Total | 5.1 | 19.0 | 150 | 84.3 | 154.7% |
Top Export Markets for Magnesite from South Korea in 2022:
- Indonesia (13.8 tons)
- Malaysia (8.3 tons)
- United Arab Emirates (2.0 tons)
- China (1.0 tons)
- Vietnam (0.9 tons)
This report provides an in-depth analysis of the magnesite market in Republic of Korea. 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:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Global demand for magnesite is on the rise, with market consumption expected to continue growing at a steady pace over the next seven years. By 2030, market volume is projected to reach 35M tons, with a value of $7.6B. China leads as both the largest consumer and producer of magnesite. Imports and exports of magnesite have also seen significant growth, particularly in countries like Indonesia and Japan.
Magnesite is a mineral with multiple applications, serving as a crucial raw material in various industries. This article explores the top import markets for magnesite, including Indonesia, Japan, the United States, Russia, and Poland. These countries have strong industrial sectors that drive the demand for magnesite, making them attractive markets for importers. Stay ahead of the competition and seize emerging opportunities by monitoring market dynamics through platforms like IndexBox.
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Global demand for magnesite is on the rise, with market consumption expected to continue growing at a steady pace over the next seven years. By 2030, market volume is projected to reach 35M tons, with a value of $7.6B. China leads as both the largest consumer and producer of magnesite. Imports and exports of magnesite have also seen significant growth, particularly in countries like Indonesia and Japan.
Magnesite is a mineral with multiple applications, serving as a crucial raw material in various industries. This article explores the top import markets for magnesite, including Indonesia, Japan, the United States, Russia, and Poland. These countries have strong industrial sectors that drive the demand for magnesite, making them attractive markets for importers. Stay ahead of the competition and seize emerging opportunities by monitoring market dynamics through platforms like IndexBox.