South-Eastern Asia: Magnesium Market 2024

Magnesium Market Size in South-Eastern Asia

In 2022, the Southeast Asian magnesium market increased by X% to $X, rising for the second consecutive year after three years of decline. In general, consumption showed temperate growth. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Magnesium Production in South-Eastern Asia

In value terms, magnesium production surged to $X in 2022 estimated in export price. Over the period under review, production continues to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Magnesium Exports

Exports in South-Eastern Asia

Magnesium exports expanded notably to X tons in 2022, picking up by X% compared with the year before. Over the period under review, exports showed a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, magnesium exports expanded rapidly to $X in 2022. Total exports indicated a measured increase 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 most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Malaysia represented the main exporting country with an export of around X tons, which amounted to 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. While the share of Malaysia (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms 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

In 2022, the export price in South-Eastern Asia amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, saw a mild decrease. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 South-Eastern Asia

In 2022, purchases abroad of magnesium increased by X% to X tons, rising for the second year in a row after three years of decline. In general, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, magnesium imports soared to $X in 2022. Over the period under review, imports saw a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Vietnam (X tons) and Thailand (X tons) were the major importers of magnesium in 2022, amounting to near X% and X% of total imports, respectively. Malaysia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (X%).

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 South-Eastern Asia amounted to $X per ton, growing by X% against the previous year. Import price indicated pronounced growth 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 most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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

Frequently Asked Questions (FAQ) :