Magnesite market in Western Asia

Earlier Report Observations

The market volume for natural magnesium carbonate in Western Asia showed considerable variation from 2018 to 2022. It began at 2 357 thousand tons in 2018, fell markedly to 1 860 thousand tons in 2019, and then stabilized at 1 865 thousand tons in 2020. A strong rebound occurred in 2021, lifting volume to 2 239 thousand tons, before a slight decline to 2 154 thousand tons in 2022.

The period saw notable industrial developments, particularly in 2024. The Al-Manaseer Group in Jordan announced a $70 million expansion of its 'Magnesia Jordan' facility, adding new production units for magnesium hydroxide and calcium chloride with an annual capacity of 270 thousand tons. This investment was supported by regional partnership agreements between the UAE, Jordan, Egypt, and Bahrain aimed at enhancing industrial integration. Concurrently, the established producer 'Magnesium Egypt' continued its operations focused on magnesium carbonate and oxide for agricultural feed and fertilizer markets.

Production economics for the sector were influenced by external cost factors. A persistent global oversupply and price volatility in oil and gas markets during these years pressured energy costs, which directly affect the mining and processing expenses for magnesite producers across the region.

Production magnesite in Western Asia

In kind, 2017-2020, K t

Top producers of magnesite, 2017-2020

World map of production of magnesite, 2017-2020

In 2020, Western Asia produced 1 919 K t of magnesite, showing broad stability compared to the previous year. Over the 2017-2020 period, production decreased by 8%, with an annualized decline of 2.8%. The lowest production level was recorded in 2019 at 1 916 K t, while the peak occurred in 2018 with 2 398 K t. The most significant year-on-year decrease was 20.1% in 2019, whereas the largest increase was 14.9% in 2018.

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

In value, 2017-2020, M $ US

Magnesite production in Western Asia declined for the second consecutive year. In 2020, output was valued at 168.0 M $ US, reflecting a modest reduction of 2.3% year-over-year. Between 2017 and 2020, production decreased by 23.7%, equating to an annualized decline of 8.6%. The highest value was recorded in 2018 at 225.1 M $ US. The most substantial decrease occurred in 2019 with a 23.6% drop, while the largest increase was 2.3% in 2018.

Annual dynamics of production in Western Asia in value, 2017-2020, M $ US

Exports magnesite from Western Asia

Exports in kind, t

After two years of growth, Western Asia's magnesite exports declined in 2020. The export volume for that year was 60 293 t, down 2.8% from 2019. Over the 2017-2020 period, exports increased by 124.3%, with an annualized growth rate of 30.9%. The peak export volume was recorded in 2019 at 62 030 t, with the largest increase of 62.1% occurring in 2018.

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

From 2017 to 2020, the three largest markets for magnesite exports in kind were Greece, Italy, and the United Kingdom. Together, these countries accounted for 72.2% of total export flows.

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

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

Exports in value, K $ US

Following two years of growth, the value of magnesite exports from Western Asia declined in 2020. Exports amounted to 5 278 K $ US that year, representing a 5.2% decrease from the previous year. Between 2017 and 2020, export value increased by 86.2%, with an annualized growth rate of 23.0%. The highest value was recorded in 2019 at 5 565 K $ US, with the largest increase of 44.3% occurring in 2018.

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

From 2017 to 2020, Greece (38.8% of export value), the United Kingdom (15.6%), and Italy (10.8%) remained the principal buyers of magnesite from Western Asia. Collectively, these three markets accounted for 65.2% of total export value.

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

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

Imports magnesite to Western Asia

Imports in kind, t

Magnesite imports to Western Asia showed noticeable fluctuations during the period. The lowest import volume was recorded in 2018 at 2 782 t, while the peak occurred in 2020 with 6 851 t, representing a 2.5-fold difference between these years. In 2020, imports increased substantially by 18.9% compared to the previous year. The largest decline was 27.4% in 2018, while the most significant increase was 107.2% in 2019.

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

From 2017 to 2020, Pakistan (48.1% of imports in kind), China (22.0%), and India (11.1%) played the leading roles in magnesite imports to Western Asia. Together, these three countries accounted for 81.2% of total import flows.

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

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

Imports in value, K $ US

After two years of growth, the value of magnesite imports to Western Asia declined in 2020. Imports stood at 864 K $ US that year, down 27.6% from the previous year. Between 2017 and 2020, import value increased by 19.1%, with an annualized growth rate of 6.0%. The highest value was recorded in 2019 at 1 194 K $ US, with the largest increase of 41.2% occurring in 2018.

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

From 2017 to 2020, India (23.7% of import value), China (18.3%), and Pakistan (12.6%) consistently occupied leading positions in the country structure of magnesite imports to Western Asia. Collectively, these three countries accounted for 54.5% of total import flows.

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

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