Magnesite market in India

Earlier Report Observations

The Indian magnesite market opened the period at a high volume of 279 thousand tons in 2018, supported by established domestic manufacturers serving diverse industries from pharmaceuticals to food processing. Over the next two years, market size contracted sharply, falling to 129 thousand tons by 2020, a decline partly attributable to global supply chain disruptions that affected material availability.

A strong recovery followed in 2021, with the market expanding to 196 thousand tons. This growth was driven by the emergence of new product segments, particularly food-grade magnesium carbonate with enhanced anti-caking and buffering properties, which broadened application areas and stimulated demand.

In 2022, the market experienced a moderate correction to 175 thousand tons. During this phase, consumer preferences continued shifting toward natural and eco-friendly magnesite products, a trend that supported local manufacturers even as overall market volume eased.

Production magnesite in India

In kind, 2017-2020, K t

From 2017 to 2020, India ranked 14th globally in magnesite production.

Top producers of magnesite, 2017-2020

World map of production of magnesite, 2017-2020

India's magnesite production declined for the third year in a row. In 2020, the country produced 74.7 K t of magnesite, marking a sharp 25.6% decrease compared to 2019. Over the 2017-2020 period, production fell by 61.7%, with a compound annual growth rate of -27.4%.

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

Exports magnesite from India

Exports in kind, K t

The market showed significant volatility during these years. The lowest export volume was recorded in 2019 at 0.1 K t, while the highest occurred in 2018 at 0.4 K t, representing a 4.4-fold difference between the peak and trough. In 2020, India's magnesite exports reached 0.2 K t, reflecting a sharp 103.7% increase from the previous year. The largest decline was seen in 2019, with a drop of 77.1%.

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

Between 2017 and 2020, Bangladesh, Sudan, and Oman formed the core markets for India's magnesite exports in volume terms. Together, they accounted for 71.8% of total exports, with Bangladesh leading at 47.4%, followed by Sudan at 12.9% and Oman at 11.5%.

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

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

Exports in value, K $ US

Export values exhibited considerable volatility during this period. The lowest value was recorded in 2019 at 33 K $ US, while the highest was in 2018 at 109 K $ US, showing a 3.3-fold variation. In 2020, India's magnesite exports totaled 59 K $ US, a sharp 77.4% increase from 2019. The largest decline occurred in 2019 with a 69.2% drop, and the largest increase was in 2018 with a 115.4% rise.

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

From 2017 to 2020, Bangladesh, Egypt, and Djibouti were the top three markets for India's magnesite exports in value terms, collectively accounting for 65.6% of total export flows.

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

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

Imports magnesite to India

Imports in kind, K t

Import volumes experienced noticeable fluctuations during this period. The lowest volume was in 2017, while the highest was in 2018 at 132.5 K t, resulting in a 3.3-fold gap. In 2020, India's magnesite imports amounted to 54.5 K t, a steep 27.0% contraction compared to 2019. The largest decline was recorded in 2019 with a 43.7% drop, and the largest increase was in 2018 with a 230.5% surge.

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

During 2017-2020, the United Arab Emirates and Pakistan were the dominant destinations for India's magnesite imports in volume terms, together accounting for 96.0% of total import flows, with other markets making up the remainder.

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

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

Imports in value, K $ US

The data indicates irregular changes, pointing to a volatile market environment. Import values fluctuated 3.4 times between the high of 2018 at 6 579 K $ US and the low of 2020. In 2020, India imported 1 939 K $ US worth of magnesite, marking a sharp 37.0% drop from the previous year. The largest decline was in 2019 with a 53.2% decrease, while the largest increase was in 2018 with a 199.7% rise.

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

From 2017 to 2020, Pakistan and the United Arab Emirates dominated India's magnesite imports in value terms, together accounting for 88.5% of total import flows, with other destinations contributing smaller shares.

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

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