Magnesium Hydroxide And Peroxide Market

The global market for hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium is projected to experience growth in both volume and value terms from 2022 to 2030. Consumption and production have been on the rise, with various countries such as the United States, China, Germany, and Portugal showing significant increases. Import and export volumes and values are also expected to grow, with notable fluctuations in prices. Overall, the market for these compounds is poised for expansion in the coming years.

Market Forecast

Driven by increasing demand for hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market volume to 378K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.0% for the period from 2022 to 2030, which is projected to bring the market value to $597M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium

In 2022, consumption of hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium increased by 13% to 288K tons, rising for the second consecutive year after four years of decline. Overall, consumption saw a relatively flat trend pattern. Over the period under review, global consumption attained the peak volume at 316K tons in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

The global magnesium hydroxide and peroxide market size amounted to $376M in 2022, growing by 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (35K tons), China (31K tons) and Germany (24K tons), with a combined 31% share of global consumption. Israel, Mexico, the Netherlands, South Korea, Italy, the UK, Austria, Canada, Portugal and Zimbabwe lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +34.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest magnesium hydroxide and peroxide markets worldwide were China ($47M), Israel ($44M) and Germany ($39M), together comprising 35% of the global market. The United States, Austria, Italy, Mexico, Portugal, South Korea, the Netherlands, Canada, the UK and Zimbabwe lagged somewhat behind, together comprising a further 44%.

In terms of the main consuming countries, Portugal, with a CAGR of +32.4%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of magnesium hydroxide and peroxide per capita consumption was registered in Israel (2,437 kg per 1000 persons), followed by Austria (1,145 kg per 1000 persons), the Netherlands (1,026 kg per 1000 persons) and Portugal (881 kg per 1000 persons), while the world average per capita consumption of magnesium hydroxide and peroxide was estimated at 0.5 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the magnesium hydroxide and peroxide per capita consumption in Israel totaled -2.1%. In the other countries, the average annual rates were as follows: Austria (+5.0% per year) and the Netherlands (-9.3% per year).

Production

World Production of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium

In 2022, production of hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium increased by 1.7% to 278K tons, rising for the second year in a row after three years of decline. The total output volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 4.3% against the previous year. Over the period under review, global production reached the peak volume in 2022 and is likely to see gradual growth in years to come.

In value terms, magnesium hydroxide and peroxide production declined modestly to $289M in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 9%. As a result, production reached the peak level of $324M. From 2017 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the Netherlands (48K tons), China (46K tons) and Russia (38K tons), together comprising 47% of global production. The United States, Israel, Austria and Mexico lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Israel (with a CAGR of +1.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium

Global magnesium hydroxide and peroxide imports expanded sharply to 207K tons in 2022, surging by 5.2% against the previous year. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 12%. Global imports peaked at 209K tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, magnesium hydroxide and peroxide imports expanded sharply to $311M in 2022. The total import value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 17%. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

The countries with the highest levels of magnesium hydroxide and peroxide imports in 2022 were Germany (25K tons), China (21K tons), the United States (17K tons), South Korea (12K tons), Portugal (12K tons), the UK (12K tons), Japan (11K tons), Italy (11K tons), Canada (9.7K tons), the Netherlands (9.2K tons), France (7.2K tons) and Belgium (6.9K tons), together resulting at 74% of total import. Sweden (6.3K tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +38.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($42M), the United States ($34M) and China ($27M) appeared to be the countries with the highest levels of imports in 2022, with a combined 33% share of global imports. Italy, Portugal, South Korea, Japan, France, Canada, the Netherlands, the UK, Sweden and Belgium lagged somewhat behind, together accounting for a further 43%.

Portugal, with a CAGR of +32.7%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average magnesium hydroxide and peroxide import price stood at $1,500 per ton in 2022, rising by 8.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 15%. Global import price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($2,159 per ton), while the UK ($684 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium

After three years of growth, overseas shipments of hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium decreased by -8.9% to 197K tons in 2022. Over the period under review, total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 27% against the previous year. The global exports peaked at 217K tons in 2021, and then shrank in the following year.

In value terms, magnesium hydroxide and peroxide exports expanded notably to $284M in 2022. In general, total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.4% against 2015 indices. The pace of growth was the most pronounced in 2017 when exports increased by 26%. Over the period under review, the global exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports By Country

The biggest shipments were from the Netherlands (39K tons), Russia (36K tons) and China (35K tons), together resulting at 56% of total export. It was distantly followed by the United States (17K tons), Japan (13K tons), Israel (11K tons) and Austria (10K tons), together committing a 26% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Russia (with a CAGR of +28.6%), while the other global leaders experienced more modest paces of growth.

In value terms, Russia ($53M), China ($46M) and the Netherlands ($35M) constituted the countries with the highest levels of exports in 2022, with a combined 47% share of global exports.

Russia, with a CAGR of +41.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average magnesium hydroxide and peroxide export price stood at $1,441 per ton in 2022, rising by 18% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Austria ($2,736 per ton), while the Netherlands ($901 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+10.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform