Market research

Magnesite market in Latin America and the Caribbean

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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"Latin America and the Caribbean" region includes following countries:

Argentina

Bolivia

Bouvet Island

Brazil

Chile

Colombia

Ecuador

Falkland Islands (Malvinas)

South Georgia and the South Sandwich Islands

French Guiana

Guyana

Paraguay

Peru

Suriname

Uruguay

Venezuela

Belize

Costa Rica

El Salvador

Guatemala

Honduras

Mexico

Nicaragua

Panama

Antigua and Barbuda

the Bahamas

Barbados

British Virgin Islands

Cayman Islands

Cuba

Dominica

Dominican Republic

Grenada

Guadeloupe

Haiti

Jamaica

Martinique

Montserrat

Curacao

Aruba

Saint Maarten (Dutch part)

Bonaire

Puerto Rico

Saint-Barthélemy

Saint Kitts and Nevis

Anguilla

Saint Lucia

Saint-Martin (French Part)

Saint Vincent and the Grenadines

Trinidad and Tobago

Turks and Caicos Islands

United States Virgin Islands

Earlier Report Observations

The natural magnesium carbonate market in Latin America and the Caribbean experienced a severe contraction in 2020, with production dropping to 1 995 тыс. т and market volume falling to 1 996 тыс. т. This sharp decline was driven by the COVID-19 pandemic and widespread supply chain disruptions, which reduced industrial output and demand across the region. A modest recovery followed, with production reaching 2 008 тыс. т in 2021 and 2 017 тыс. т in 2022, indicating market stabilization at a lower level.

In the following years, evolving consumer preferences began to influence market dynamics, particularly a growing interest in dietary supplements and food-grade products containing magnesium carbonate. This trend toward health and nutrition applications supported steady demand, helping to sustain market activity after the initial pandemic shock.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2022
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2022
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Latin America and the Caribbean
  1. 5.1.1. Annual dynamics of production in Latin America and the Caribbean in kind, 2018-2022, K t
2. 5.2. Global production by Country, 2018-2022
  1. 5.2.1. Annual dynamics of production by country in kind, 2018-2022, K t
  2. 5.2.2. Structure of production by countries in kind, 2018-2022
  3. 5.2.3. Dynamics of peoduction structure by countries in kind, 2018-2022
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to Argentina in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Argentina by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Argentina in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Argentina by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Argentina, 2018-2024, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's imports to Argentina by countries, 2018-2024, $ US/kg
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to Argentina in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Argentina by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Argentina in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Argentina by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Argentina, 2018-2024, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's imports to Argentina by countries, 2018-2024, $ US/kg
7. Exports
1. 7.1. Exports (Direct Data*)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, t
    1. 7.1.2.1. Annual dynamics of product's exports from Argentina in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Argentina by countries, 2018-2024, t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Argentina in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Argentina by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Argentina, 2018-2024, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's exports from Argentina by countries, 2018-2024, $ US/kg
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, t
    1. 7.2.2.1. Annual dynamics of product's exports from Argentina in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Argentina by countries, 2018-2024, t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Argentina in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Argentina by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Argentina, 2018-2024, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's exports from Argentina by countries, 2018-2024, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production magnesite in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of magnesite, 2017-2020

Source: SHEV.io

World map of production of magnesite, 2017-2020

Source: SHEV.io

Latin America and the Caribbean's magnesite production declined for the third consecutive year. In 2020, the region produced 1,995 thousand tonnes of magnesite, marking a 32.7% decrease compared to 2019. Between 2017 and 2020, production fell by 42.9%, which translates to an annualized decline rate of 17.1%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(11.7%)	(3.9%)	(32.7%)	(17.1%)

Source: SHEV.io

Exports magnesite from Latin America and the Caribbean

Exports in kind, t

The market showed significant fluctuations during this period. Export volumes varied 3.7 times from the low in 2017 to the high in 2019. In 2020, foreign magnesite supplies from Latin America and the Caribbean totaled 1,928 tonnes, down 72.6% from 2019. The peak was recorded in 2019 at 7,032 tonnes, with the largest increase that year reaching 98.4%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	85.1%	98.4%	(72.6%)	0.2%

Source: SHEV.io

From 2017 to 2020, the Netherlands dominated the country structure of exports in kind, accounting for 13.2% of total flows.

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

Source: SHEV.io

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Source: SHEV.io

Exports in value, K $ US

The market experienced notable fluctuations during this period. Export values showed a peak-to-trough amplitude of 1.8 times from 2017 to 2018. In 2020, Latin America and the Caribbean exported magnesite worth 1,137 thousand US dollars, a contraction of 15.8% compared to the previous year. The maximum value was recorded in 2018 at 1,510 thousand US dollars, with the largest increase that year at 79.3%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	79.3%	(10.6%)	(15.8%)	10.5%

Source: SHEV.io

During 2017–2020, the Netherlands played the leading role in exports in value terms of magnesite from Latin America and the Caribbean, with a share of 6.3% of total flows.

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

Source: SHEV.io

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Source: SHEV.io

Imports magnesite to Latin America and the Caribbean

Imports in kind, t

Latin America and the Caribbean imported approximately 2,684 tonnes of magnesite in 2020, a sharp drop of 22.6% compared to the previous year. Over the period 2017-2020, imports decreased by 63.5%, with a compound annual growth rate (CAGR) of -28.6%. The largest decline occurred in 2018 at 56.2%, while the largest increase was in 2019 at 7.7%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(56.2%)	7.7%	(22.6%)	(28.6%)

Source: SHEV.io

From 2017 to 2020, China (1.7% of imports in kind), Japan (1.2% of imports in kind), and Spain (1.0% of imports in kind) led the ranking of suppliers of magnesite to Latin America and the Caribbean, with their combined share reaching 3.9% of total imports in kind.

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

Source: SHEV.io

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Source: SHEV.io

Imports in value, K $ US

After a two-year decrease, magnesite shipments to Latin America and the Caribbean from abroad increased. In 2020, the region imported magnesite worth 2,308 thousand US dollars, showing no significant change from the previous year. Between 2017 and 2020, imports fell by 36.9%, equating to an annualized decline rate of 14.2%. The minimum value was recorded in 2019 at 2,308 thousand US dollars, with the largest decline in 2018 at 27.4%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(27.4%)	(13.4%)	0.3%	(14.2%)

Source: SHEV.io

During 2017–2020, imports in value terms of magnesite to Latin America and the Caribbean were relatively evenly distributed. China (10.0% of imports in value terms), Japan (5.8% of imports in value terms), and the United States (2.4% of imports in value terms) together accounted for 18.2% of total flows.

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

Source: SHEV.io

World map of product's imports to Latin America and the Caribbean in value, 2017-2020

Source: SHEV.io