Hold onto your seat, because the world's lightest structural metal is powered by a heavyweight champion: China's staggering 84% share of global magnesium production, which reached 830,000 metric tons in 2022, dictates the pulse of this $5.2 billion industry from automotive alloys to aerospace innovations.
Key Takeaways
- In 2022, global primary magnesium production totaled 830,000 metric tons, with China contributing 700,000 metric tons representing 84% of the total
- China's magnesium production capacity exceeded 1.2 million metric tons per year in 2022, primarily using the Pidgeon process
- Russia produced 40,000 metric tons of primary magnesium in 2022, mainly through electrolytic processes
- World reserves of magnesium-bearing minerals are estimated at 7.1 billion metric tons, primarily as magnesite and dolomite
- China's magnesium reserves are 800 million metric tons, the largest globally
- Russia holds 310 million metric tons of magnesium reserves in magnesite
- Global magnesium market size was valued at USD 5.2 billion in 2022
- Magnesium price averaged USD 3,200 per metric ton in 2022, up 20% from 2021
- The magnesium market is projected to grow at CAGR 6.5% to USD 8.1 billion by 2030
- Global magnesium consumption grew 4% to 950,000 tons in 2022 including secondary
- Automotive sector consumed 35% of global magnesium at 330,000 tons in 2022
- China consumed 650,000 metric tons of magnesium in 2022, 70% of world total
- Automotive industry uses 45% of magnesium alloys globally in 2022
- Aluminum alloys account for 30% of magnesium applications at 280,000 tons in 2022
- Die-casting represents 40% of magnesium alloy use in automotive structures
China dominates global magnesium production, supplying most of the world's supply and consumption.
Applications and End-Uses
- Automotive industry uses 45% of magnesium alloys globally in 2022
- Aluminum alloys account for 30% of magnesium applications at 280,000 tons in 2022
- Die-casting represents 40% of magnesium alloy use in automotive structures
- Steel desulfurization uses 35% of primary magnesium production globally
- Magnesium in EV battery housings projected 50,000 tons by 2025
- Aerospace magnesium alloys usage 8,000 tons in 2022 for weight reduction
- Electronics sector consumed 40,000 tons magnesium for casings in 2022
- Chemical applications like Grignard reagents used 45,000 tons in 2022
- Magnesium oxide from magnesium used in refractories 100,000 tons equivalent
- Powertrain components in cars use 70,000 tons magnesium annually
- Medical implants utilize bioresorbable magnesium alloys, 500 tons in 2022
- Pyrotechnics and flares consume 10,000 tons magnesium powder yearly
- Ductile iron production uses 50,000 tons ferrosilicon-magnesium
- Magnesium in 3C products (computer, communication, consumer) 30,000 tons
- Structural automotive parts like dashboards 60,000 tons magnesium
- Anodes for cathodic protection used 20,000 tons magnesium in 2022
- Magnesium hydroxide flame retardants 25,000 tons in plastics
- Additive manufacturing with magnesium alloys grew to 1,000 tons in 2022
- Sports equipment like bicycle frames 5,000 tons magnesium
- Pharmaceuticals use 2,000 tons magnesium stearate as lubricant
- Magnesium in hydrogen storage materials research 500 tons prototype
- Furniture and ladders consume 15,000 tons magnesium castings
- Marine applications like boat engines 3,000 tons magnesium alloys
- Magnesium sulfate production for fertilizers 30,000 tons from magnesium
- Defense sector missiles use 4,000 tons magnesium casings
- Packaging industry cans and foils 10,000 tons magnesium coatings
- Construction tools and ladders 8,000 tons magnesium extrusions
- Water treatment uses 12,000 tons magnesium compounds annually
Applications and End-Uses Interpretation
While magnesium may be best known for its flashy role in pyrotechnics, its true explosive growth is as the silent backbone of modern industry, from lightweighting our cars and phones to strengthening our steel, treating our water, and even holding the promise of clean hydrogen.
Consumption and Demand
- Global magnesium consumption grew 4% to 950,000 tons in 2022 including secondary
- Automotive sector consumed 35% of global magnesium at 330,000 tons in 2022
- China consumed 650,000 metric tons of magnesium in 2022, 70% of world total
- US magnesium apparent consumption was 170,000 tons in 2022
- Europe consumed 150,000 tons magnesium in 2022, down 5% due to recession fears
- Aluminum alloys used 250,000 tons magnesium globally in 2022
- India magnesium demand reached 20,000 tons in 2022, up 15% YoY
- Global die-casting magnesium consumption was 200,000 tons in 2022
- Japan consumed 60,000 tons magnesium mainly for electronics in 2022
- Steel desulfurization consumed 300,000 tons magnesium globally in 2022
- Brazil magnesium consumption was 25,000 tons in 2022 for automotive
- Global magnesium demand in EVs expected to reach 100,000 tons by 2025
- Germany consumed 40,000 tons magnesium in 2022 for auto sector
- Asia excluding China consumed 120,000 tons magnesium in 2022
- Recycling supplied 15% of magnesium consumption at 140,000 tons in 2022
- South Korea magnesium demand 30,000 tons in 2022 for semiconductors
- World magnesium use in chemicals was 50,000 tons in 2022
- Mexico consumed 15,000 tons magnesium in 2022 from imports
- Forecast global magnesium demand 1.1 million tons by 2030 at 5% CAGR
- Russia consumed 20,000 tons magnesium domestically in 2022
- Automotive magnesium sheets consumption up 10% to 50,000 tons in 2022
- Global foundry magnesium alloy consumption 180,000 tons in 2022
- Turkey magnesium consumption 15,000 tons in 2022 for aluminum alloys
- Aerospace sector global magnesium use 10,000 tons in 2022
- China steel industry consumed 400,000 tons magnesium for desulfurization in 2022
- EU magnesium demand forecast flat at 140,000 tons in 2023
- Global magnesium in powertrain applications 80,000 tons in 2022
- Australia consumed 5,000 tons magnesium in 2022 mainly imports
Consumption and Demand Interpretation
While China's steel industry alone gobbles up enough magnesium to make the world's cars 40% lighter, the global market is quietly shifting gears, proving this mighty metal is far more than just a one-country wonder or a simple desulfurizing sidekick.
Market and Economic Data
- Global magnesium market size was valued at USD 5.2 billion in 2022
- Magnesium price averaged USD 3,200 per metric ton in 2022, up 20% from 2021
- The magnesium market is projected to grow at CAGR 6.5% to USD 8.1 billion by 2030
- China exported 250,000 metric tons of magnesium in 2022, valued at USD 800 million
- Global magnesium alloy market reached USD 3.8 billion in 2022
- US magnesium imports totaled 140,000 tons in 2022, 90% from China
- Magnesium spot price peaked at USD 4,500/ton in March 2022 due to Ukraine war
- European magnesium market consumption was 120,000 tons in 2022
- Global magnesium trade volume was 400,000 metric tons in 2022
- China's magnesium export quota was 210,000 tons in 2022
- Magnesium market share by alloy type: AZ91D 40% in automotive in 2022
- World magnesium demand forecasted at 1 million tons by 2025
- US magnesium average value was USD 4,100 per ton in 2022
- Asia-Pacific holds 60% of global magnesium market share in 2022
- Magnesium futures trading volume increased 30% in 2022 on Shanghai exchange
- Global magnesium recycling market valued at USD 1.2 billion in 2022
- Russia exported 30,000 tons magnesium worth USD 100 million in 2022
- Magnesium price forecast for 2023 averaged USD 3,500/ton
- India imported 15,000 tons magnesium in 2022 at USD 4,200/ton average
- Global magnesium die-casting market size USD 2.5 billion in 2022
- EU imposed anti-dumping duties on Chinese magnesium up to 38% in 2022
- Magnesium market volatility index rose 25% in 2022 due to energy prices
- Japan magnesium imports 50,000 tons/year valued at USD 200 million
- Global magnesium investment reached USD 500 million in new plants 2022
- South Korea's magnesium market grew 7% to USD 150 million in 2022
- World magnesium supply deficit projected at 50,000 tons in 2023
- Turkey exported 20,000 tons magnesium worth USD 70 million in 2022
Market and Economic Data Interpretation
Despite China's near-monopoly fueling prices and politics, the global magnesium market, like a determined dieter avoiding carbs, is bulking up to a projected $8.1 billion by 2030 as industries crave its lightweight strength, even if they have to swallow bitter pills like supply deficits and anti-dumping duties along the way.
Production
- In 2022, global primary magnesium production totaled 830,000 metric tons, with China contributing 700,000 metric tons representing 84% of the total
- China's magnesium production capacity exceeded 1.2 million metric tons per year in 2022, primarily using the Pidgeon process
- Russia produced 40,000 metric tons of primary magnesium in 2022, mainly through electrolytic processes
- Brazil's primary magnesium output was 18,000 metric tons in 2022 from its only producer
- In 2021, Turkey produced 25,000 metric tons of magnesium, focusing on export markets
- Global secondary magnesium production from recycling reached approximately 150,000 metric tons in 2022
- India's magnesium production was 2,500 metric tons in 2022, sourced from magnesite
- The United States produced 45,000 metric tons of primary magnesium in 2022 via the silicothermic process
- Serbia's magnesium production stood at 35,000 metric tons in 2022 from its electrolytic plant
- In 2020, global magnesium production dipped to 780,000 metric tons due to COVID-19 impacts
- China's Shanxi province accounted for 60% of national magnesium output in 2022
- Electrolytic magnesium production globally was 120,000 metric tons in 2022, mostly outside China
- Ukraine produced 1,800 metric tons of magnesium in 2022 before disruptions
- North Korea's estimated magnesium production was 5,000 metric tons in 2022
- Global magnesium production grew by 5% from 2021 to 2022, reaching 830,000 tons
- Israel's Dead Sea Magnesium produced 35,000 metric tons in 2022
- In 2023 Q1, China's magnesium output was 185,000 metric tons, up 8% YoY
- Australia planned a 10,000 mt/year magnesium plant in 2023
- Global ferrosilicon-magnesium alloy production for ductile iron was 50,000 tons in 2022
- China's electrolytic magnesium pilot plants produced 2,000 tons in 2022
- World magnesium production forecast for 2025 is 900,000 metric tons
- Kazakhstan produced 1,200 metric tons in 2022
- Thailand's magnesium output was 500 metric tons in 2022 from recycling
- In 2019 peak, China produced 850,000 tons of magnesium
- Global magnesium granule production for die-casting was 20,000 tons in 2022
- Slovakia ceased magnesium production in 2022, previously 5,000 tons/year
- Mexico produced 1,000 metric tons in 2022
- Global magnesium powder production reached 15,000 tons in 2022 for pyrotechnics and chemicals
- China's Fujian province contributed 10% to national production in 2022
Production Interpretation
While China’s staggering 84% monopoly of the magnesium market makes the rest of the world look like a collection of plucky hobbyists, it’s a dominance built on a famously dirty process that leaves the global supply chain critically—and uncomfortably—dependent on a single nation’s environmental policy and production whims.
Reserves and Resources
- World reserves of magnesium-bearing minerals are estimated at 7.1 billion metric tons, primarily as magnesite and dolomite
- China's magnesium reserves are 800 million metric tons, the largest globally
- Russia holds 310 million metric tons of magnesium reserves in magnesite
- North Korea has 180 million metric tons of magnesite reserves suitable for magnesium
- Brazil's magnesium reserves stand at 35 million metric tons from dolomite and magnesite
- Turkey possesses 210 million metric tons of magnesite reserves
- Australia's magnesium resources in brine and minerals exceed 100 million metric tons
- United States magnesium reserves are 65 million metric tons, mainly dolomite
- Global seawater magnesium resources are virtually unlimited at 1.1 billion metric tons extractable
- India's magnesite reserves total 400 million metric tons
- South Africa's magnesium resources from asbestos tailings are 20 million metric tons
- Greece has 50 million metric tons of magnesite reserves
- Spain's dolomite reserves for magnesium are 30 million metric tons
- Canada identified 25 million metric tons of magnesium resources in Quebec brines
- Global magnesium mine production of ore was 20 million metric tons in 2022
- China's magnesite reserves represent 11% of world total
- Israel's Dead Sea has vast magnesium chloride resources from potash production
- Austria's magnesite reserves are 15 million metric tons
- World magnesium resources in lake brines exceed 1 billion metric tons
- Slovakia has 10 million metric tons of magnesite resources
- Finland's soapstone deposits contain 5 million metric tons magnesium equivalent
- United Arab Emirates explored Gulf seawater for 500,000 tons/year magnesium potential
- Chile's Salar de Atacama brines hold 50 million metric tons magnesium
- Iran's magnesite reserves are 40 million metric tons
- Global identified magnesium resources total 12 billion metric tons including undiscovered
- Poland's dolomite reserves for magnesium are 20 million tons
- Mexico has 8 million metric tons magnesite reserves
Reserves and Resources Interpretation
The world sits on a magnesium treasure chest so vast that China, despite being the reserve king with 800 million tons, holds barely a visible fraction of a near-infinite resource pie—yet produced a whopping 20 million tons from ore in 2022, proving we're still just scratching the surface of our planet's most abundant metal.
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