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Magnesium Carbonate Price Trend and Forecast
Magnesium Carbonate Price Trend and Forecast
Magnesium Carbonate Regional Price Overview
Get the latest insights on price movement and trend analysis of Magnesium Carbonate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Magnesium Carbonate Price Trend for the Q1 of 2024
Asia
In China, the price trend of magnesium carbonate followed a downward trajectory throughout the first quarter of 2024. Downstream industries remained cautious amid fluctuating market conditions. The global supply of magnesium significantly declined due to disrupted trade routes, leading to a sharp increase in raw material costs. Additionally, rising crude oil prices elevated production expenses, which limited manufacturers' production capacities.
Magnesium Carbonate Price Chart
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The onset of the Chinese New Year and spring festivities further curtailed industrial growth and reduced demand from downstream sectors, contributing to a weak market outlook. Even after the holidays, when production resumed, magnesium carbonate prices showed no signs of improvement.
Europe
In Europe, the first quarter of 2024 saw a slight decline in magnesium carbonate prices due to reduced demand and production challenges linked to limited feedstock availability. The global supply crunch led Chinese suppliers to withhold selling magnesium at lower rates, exacerbating the moderate supply levels. Furthermore, escalating feedstock magnesium prices, driven by pre-Lunar New Year stocking activities and supply chain disruptions from geopolitical tensions, heightened concerns within the manufacturing sector. Meanwhile, weak cost support from sulphuric acid due to decreased sulfur prices in the agrochemical industry and sluggish procurement activities in pharmaceuticals, cosmetics, wellness, and horticulture sectors led to higher inventory levels and stifled market growth.
North America
In North America, the magnesium carbonate market continued its downward trend from previous quarters into Q1 of 2024. The decline was driven by reduced demand across various end-user industries. Sluggish procurement activities in sectors such as horticulture, pharmaceuticals, and personal care products, coupled with rising inventory levels, negatively impacted the market. Additionally, shipping activities in the USA faced major disruptions due to lower water levels in the Panama Canal caused by dry weather linked to the El Niño effect. Weakened demand for fertilizers from the horticulture sector further contributed to the overall subdued dynamics of the magnesium carbonate price trend.
Analyst Insight
According to Procurement Resource, the price trend of Magnesium Carbonate is expected to trail the path set by its feedstock commodities in the next quarters. The demand for salt is expected to remain stagnant. However, the cost of production and trading disruptions might alter the price trajectory of magnesium carbonate.
Procurement Resource provides latest prices of Magnesium Carbonate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
About Magnesium Carbonate
Magnesium carbonate is a white salt with high thermal stability and low solubility in water. At high temperatures, the salt dissociates into magnesium oxide and carbon dioxide and it is this property is well suited for its usage as a refractory material. Due to its slightly alkaline pH, the salt is often used as an antacid. Along with this, its absorbent properties make its application base much more diverse. The salt also finds applications in the food and pharmaceutical industries in addition to the production processes of rubber, plastics, and other composite materials.
Magnesium Carbonate Product Details
| Report Features | Details |
| Product Name | Magnesium Carbonate |
| Chemical Formula | MgCO3 |
| Industrial Uses | Pharmaceutical Industry, Food Industry, Rubber and Plastics Industry, Cosmetics and personal care |
| Molecular Weight | 84.3 g/mol |
| CAS No. | 546-93-0 |
| HS Code | 28369920 |
| Supplier Database | Buschle & Lepper S.A., Graymont Limited, Hebei Meishen Technology Co. Ltd., Konoshima Chemical Co Ltd, Lhoist Group |
| Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
| Currency | US$ (Data can also be provided in local currency) |
| Supplier Database Availability | Yes |
| Customization Scope | The report can be customized as per the requirements of the customer |
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Magnesium Carbonate Production Process
In the first step of this synthesis, magnesium oxide salt is mixed with water. This liquid mixture is then saturated by passing carbon dioxide over it. In the subsequent steps, the solution is heated to obtain precipitates of magnesium carbonate which are then separated and purified to obtain the end product.
Methodology
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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