Magnesite market in Eastern Asia

Earlier Report Observations

From 2018 to 2020, the magnesite market volume in Eastern Asia experienced significant changes. Starting at 18 659 K t in 2018, supported by robust demand from metallurgy, plastics, and rubber industries, the market contracted to 10 993 K t in 2019. It rebounded to 13 966 K t in 2020 as production capacity expanded and demand for pharmaceutical and food-grade products grew, alongside the entry of new market players.

Between 2021 and 2022, the market volume declined further, reaching 11 146 K t. This period coincided with the tightening of environmental regulations across the region, which required process improvements and emission reductions, potentially constraining production. Concurrently, industry factors highlighted a continued focus on high-value pharmaceutical applications and product specialization.

Beyond 2022, market dynamics were shaped by ongoing environmental policy enforcement and increasing exports from China, with product development advancing into specialized uses such as electronics and optical glass.

Production magnesite in Eastern Asia

In kind, 2017-2020, K t

Top producers of magnesite, 2017-2020

World map of production of magnesite, 2017-2020

After a two-year decline, magnesite production in Eastern Asia rebounded. In 2020, the region produced 14,114 thousand tons of magnesite, marking a 28.5% increase compared to 2019. However, looking at the broader period from 2017 to 2020, production actually decreased by 26.4%, which translates to an average annual decline of 9.7%. The lowest production level was recorded in 2019 at 10,987 thousand tons, with the largest year-on-year drop of 41.1% also occurring that year.

Annual dynamics of production in Eastern Asia in kind, 2017-2020, K t

Exports magnesite from Eastern Asia

Exports in kind, K t

The export market for magnesite from Eastern Asia showed significant volatility during this period. Exports reached their lowest point in 2019 at 54.4 thousand tons, then surged to a peak of 170.4 thousand tons in 2020, representing a 213.1% increase and creating a 3.1-fold gap between the two years. The largest decline in exports was recorded in 2018 at 52.0%.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, the main destinations for magnesite exports from Eastern Asia were Indonesia (accounting for 15.3% of exports in volume), New Caledonia (6.6%), and the Philippines (3.1%). Together, these three countries represented 25.0% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Asia in kind, 2017-2020

Exports in value, K $ US

Cross-border shipments of magnesite from Eastern Asia increased for the third consecutive year. In 2020, exports reached 10,264 thousand US dollars, up 2.8% from the previous year. Over the period from 2017 to 2020, exports grew by 39.3%, averaging an 11.7% annual increase.

Annual dynamics of product's exports from Eastern Asia in value, 2017-2020, K $ US

Between 2017 and 2020, the geographical structure of magnesite exports in value terms was highly diversified. Indonesia (16.0% of export value), the Philippines (6.6%), and New Caledonia (6.4%) together accounted for just 29.0% of total flows. The remaining 71.0% was distributed among numerous smaller trading partners.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Asia in value, 2017-2020

Imports magnesite to Eastern Asia

Imports in kind, K t

The import market for magnesite in Eastern Asia exhibited considerable volatility. Imports peaked in 2018 at 66.9 thousand tons, then fell to their lowest point in 2017, showing a 9.5-fold variation between these years. In 2020, imports amounted to 22.5 thousand tons, a sharp decline of 62.6% compared to 2019. The largest increase was recorded in 2018 at 845.5%.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, three main markets—Russia, Pakistan, and Turkey—together absorbed 10.4% of total magnesite imports by volume into Eastern Asia.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Asia in kind, 2017-2020

Imports in value, K $ US

The data reveals irregular changes in import values, indicating a volatile market environment. Imports reached their lowest point in 2017, then peaked in 2019 at 20,430 thousand US dollars, reflecting a 7.5-fold gap between these years. In 2020, imported magnesite volumes in Eastern Asia came to 10,819 thousand US dollars, down 47.0% from the previous year. The largest increase was recorded in 2018 at 636.4%.

Annual dynamics of product's imports to Eastern Asia in value, 2017-2020, K $ US

Throughout 2017–2020, Russia (32.4% of import value), Turkey (5.2%), and Pakistan (1.0%) formed the key group of partners for magnesite imports into Eastern Asia in value terms, jointly representing 38.6% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Asia in value, 2017-2020