Magnesium Market in Mexico
Market Overview
The Mexican magnesium market dropped notably to $
in , with a decrease of -% 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). Over the period under review, consumption continues to indicate a deep contraction. Magnesium consumption peaked at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.
in , with a decrease of -% 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). Over the period under review, consumption continues to indicate a deep contraction. Magnesium consumption peaked at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.Consumption
In , the amount of magnesium consumed in Mexico contracted dramatically to tons, declining by -% on figures. Over the period under review, consumption continues to indicate a abrupt curtailment. Over the period under review, consumption reached the peak volume at tons in 2015; however, from 2016 to , consumption remained at a lower figure.
The revenue of the magnesium market in Mexico declined remarkably to $ in , waning by -% 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). Overall, consumption recorded a abrupt setback. Over the period under review, the market hit record highs at $ in 2015; however, from 2016 to , consumption failed to regain momentum.
, the amount of magnesium consumed in Mexico contracted dramatically to tons, declining by -% on figures. Over the period under review, consumption continues to indicate a abrupt curtailment. Over the period under review, consumption reached the peak volume at tons in 2015; however, from 2016 to , consumption remained at a lower figure.The revenue of the magnesium market in Mexico declined remarkably to $
in , waning by -% 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). Overall, consumption recorded a abrupt setback. Over the period under review, the market hit record highs at $ in 2015; however, from 2016 to , consumption failed to regain momentum.Market Forecast
Driven by rising demand for magnesium in Mexico, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Magnesium market in Mexico consists almost entirely of imported products. In recent years, import price have increased sharply. Despite the hike in price, Mexico relies completely on foreign supplies: the volume of domestic output remains insufficient to satiate market demand.
Trade Balance
Mexico remains a net importer of magnesium; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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