ASEAN: Magnesium Market 2024

Magnesium Market Size in ASEAN

In 2022, the ASEAN magnesium market increased by X% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption saw a pronounced expansion. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Magnesium Production in ASEAN

In value terms, magnesium production soared to $X in 2022 estimated in export price. Overall, production recorded a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Magnesium Exports

Exports in ASEAN

In 2022, magnesium exports in ASEAN expanded rapidly to X tons, with an increase of X% on 2021. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, magnesium exports expanded rapidly to $X in 2022. Total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Malaysia (X tons) was the largest exporter of magnesium, generating X% of total exports. It was distantly followed by Thailand (X tons), achieving a X% share of total exports. Singapore (X tons) and Vietnam (X tons) took a minor share of total exports.

Malaysia was also the fastest-growing in terms of the magnesium exports, with a CAGR of X% from 2012 to 2022. At the same time, Thailand (X%) and Vietnam (X%) displayed positive paces of growth. By contrast, Singapore (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest magnesium supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Malaysia amounted to X%. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Singapore (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price, however, showed a mild descent. The pace of growth was the most pronounced in 2016 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the export price figures.

Magnesium Imports

Imports in ASEAN

In 2022, purchases abroad of magnesium increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, imports recorded a strong increase. The growth pace was the most rapid in 2021 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, magnesium imports surged to $X in 2022. Over the period under review, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

In 2022, Vietnam (X tons) and Thailand (X tons) represented the largest importers of magnesium in ASEAN, together finishing at approx. X% of total imports. Malaysia (X tons) held the next position in the ranking, followed by Indonesia (X tons). All these countries together took approx. X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest magnesium importing markets in ASEAN were Thailand ($X), Vietnam ($X) and Malaysia ($X), together comprising X% of total imports.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, growing by X% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, magnesium import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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