Latin America and the Caribbean: Magnesium Market 2024

Magnesium Market Size in Latin America and the Caribbean

In 2022, the Latin American magnesium market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Magnesium Production in Latin America and the Caribbean

In value terms, magnesium production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight slump. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Magnesium Exports

Exports in Latin America and the Caribbean

In 2022, the amount of magnesium exported in Latin America and the Caribbean shrank sharply to X tons, falling by X% compared with 2021. Over the period under review, exports recorded a noticeable descent. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, magnesium exports declined significantly to $X in 2022. In general, exports saw a mild shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then contracted sharply in the following year.

Exports by Country

Brazil was the largest exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Mexico (X tons), mixing up a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%).

In value terms, Brazil ($X) remains the largest magnesium supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at X%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Mexico amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%).

Magnesium Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of magnesium increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, magnesium imports skyrocketed to $X in 2022. Total imports indicated mild growth 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) was the main importer of magnesium, constituting X% of total imports. It was distantly followed by Argentina (X tons) and Mexico (X tons), together making up a X% share of total imports. Paraguay (X tons) took a relatively small share of total imports.

Imports into Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Paraguay (X%) and Argentina (X%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Mexico (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.), Argentina (X p.p.) and Paraguay (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mexico (X p.p.) displayed negative dynamics.

In value terms, Brazil ($X) constitutes the largest market for imported magnesium in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Mexico ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Brazil totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Argentina (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price, however, showed a slight curtailment. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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