Magnesium and magnesium articles market in Slovakia

Earlier Report Observations

Between 2018 and 2020, the Slovak market for magnesium and magnesium articles was influenced by circular economy regulations. The 2018 requirement for packaging producers to ensure recycling from January 1st expanded the secondary raw materials market, including magnesium waste and scrap. This coincided with high imports of 7 913 tons and low exports of 411 tons in 2018. In 2019, imports fell to 4 654 tons while exports rose to 801 tons, shifting trade flows.

Production started at 14 484 tons in 2020, with imports of 5 519 tons and exports of 1 979 tons, resulting in a market size of 18 025 tons. The following year saw a sharp expansion: production jumped by 37% to 19 846 tons, imports more than doubled to 12 685 tons, and exports increased to 3 405 tons, driving the market size to 29 127 tons. This surge was partly due to the 2021 amendment to the Waste Act, which banned single-use plastic products, altering waste volumes and boosting processing and recycling of metal wastes including magnesium scrap.

After the 2021 peak, the market size gradually contracted to 27 350 tons in 2022, 26 199 tons in 2023, and 22 805 tons in 2024. Production also declined to 15 694 tons in 2024. During this period, Slovakia strengthened its position in magnesium recycling through collaboration between the Slovak Institute of Materials and Mechanical Engineering and the Austrian company REMAG, securing a 20% share of the European recycled magnesium market by 2024.

Production magnesium and magnesium articles in Slovakia

In kind, 2017-2020, t

Annual dynamics of production in Slovakia in kind, 2017-2020, t

Exports magnesium and magnesium articles from Slovakia

Exports in kind, t

The market exhibited volatility during the observed period. Exports reached their lowest point in 2018 at 411 tonnes, then peaked in 2020 at 1 979 tonnes, representing a 4.8-fold increase. The 2020 figure marked a significant year-over-year growth of 147.1%. The largest decline occurred in 2018, dropping by 37.5%.

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

From 2017 to 2020, Serbia, Romania, and Poland were the primary destinations for Slovakia's magnesium and magnesium articles exports by volume. Serbia accounted for 49.4% of exports, Romania for 15.0%, and Poland for 12.2%. Together, these three countries represented 76.6% of total export volume.

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

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

Exports in value, K $ US

Market volatility was evident throughout the period. Exports in value terms hit their lowest in 2018 at 1 081 thousand US dollars, then surged to a peak of 4 396 thousand US dollars in 2020, showing a 4.1-fold variation. The 2020 value reflected a substantial year-over-year increase of 157.8%. The largest decline was recorded in 2018 at 18.7%.

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

Between 2017 and 2020, Serbia, Poland, and Argentina remained the key buyers of Slovakia's magnesium and magnesium articles by value. Serbia's share was 48.4%, Poland's was 18.0%, and Argentina's was 6.7%. Collectively, these three countries made up 73.1% of total export value.

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

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

Imports magnesium and magnesium articles to Slovakia

Imports in kind, t

Market performance showed noticeable fluctuations during this period. Imports by volume were at their lowest in 2017, then peaked in 2018 at 7 913 tonnes, with a 2.1-fold difference between these years. In 2020, imports amounted to 5 519 tonnes, representing an 18.6% increase compared to 2019. The largest decline occurred in 2019, falling by 41.2%, while the largest increase was in 2018, rising by 110.1%.

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

From 2017 to 2020, imports by volume were heavily concentrated on China, which accounted for 82.2% of total flows. The remaining volume was distributed among other trading partners.

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

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

Imports in value, K $ US

In 2020, Slovakia's imports of magnesium and magnesium articles by value reached 13 450 thousand US dollars, showing a modest year-over-year gain of 6.4%. Over the 2017-2020 period, imports grew by 40%, with a compound annual growth rate of 11.9%. The peak value was recorded in 2018 at 13 491 thousand US dollars. The largest decline was in 2019 at 6.3%, while the largest increase occurred in 2018 at 40.4%.

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

During 2017-2020, China dominated Slovakia's imports of magnesium and magnesium articles by value, absorbing 76.0% of the total. The remainder was spread across a diverse range of smaller destinations.

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

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