Magnesium Market in the United Arab Emirates
Market Overview
The magnesium market in the United Arab Emirates rose rapidly to $
in , picking up 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). In general, consumption continues to indicate a remarkable increase. Magnesium consumption peaked in and is expected to retain growth in years to come.
in , picking up 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). In general, consumption continues to indicate a remarkable increase. Magnesium consumption peaked in and is expected to retain growth in years to come.Consumption
In , approx. tons of magnesium were consumed in the United Arab Emirates; increasing by % against the year before. In general, consumption recorded a resilient increase. Over the period under review, consumption reached the peak volume in and is likely to continue growth in years to come.
The revenue of the magnesium market in the United Arab Emirates expanded significantly to $ in , growing 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 saw a prominent expansion. Over the period under review, the market reached the peak level in and is expected to retain growth in the immediate term.
, approx. tons of magnesium were consumed in the United Arab Emirates; increasing by % against the year before. In general, consumption recorded a resilient increase. Over the period under review, consumption reached the peak volume in and is likely to continue growth in years to come.The revenue of the magnesium market in the United Arab Emirates expanded significantly to $
in , growing 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 saw a prominent expansion. Over the period under review, the market reached the peak level in and is expected to retain growth in the immediate term.Market Forecast
Driven by increasing demand for magnesium in the United Arab Emirates, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding 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 the United Arab Emirates consists almost entirely of imported products. In recent years, import price have increased sharply. Despite the hike in price, the United Arab Emirates relies completely on foreign supplies: the volume of domestic output remains insufficient to satiate market demand.
Trade Balance
The United Arab Emirates 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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