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.
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.
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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.
MgCO3
Pharmaceutical Industry, Food Industry, Rubber and Plastics Industry, Cosmetics and personal care
Buschle & Lepper S.A., Graymont Limited, Hebei Meishen Technology Co. Ltd., Konoshima Chemical Co Ltd, Lhoist Group
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-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.
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.
Udeesha Tomar
AVP - Strategy and Solutions
Leading procurement research solutions across chemicals, materials, and food & beverages, with expertise in price forecasting and market analytics.
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