The market size value for natural magnesium carbonate and magnesium oxide in Portugal was approximately 11.727 million US dollars in 2023. From 2013 to 2023, the market experienced significant volatility. Despite relative stability in the last few years, the compound annual growth rate (CAGR) for the period from 2018 to 2023 was -2.81%, indicating a slight decline. The market saw noticeable year-on-year fluctuations, with minor decreases observed in more recent years.
- The year-on-year decrease in 2022 and 2023 was close to 0.94%.
- The market's five-year CAGR suggests an average annual decline.
Future trends to watch for include technological advancements in production, potential regulatory changes impacting imports, and shifts in supplier dynamics due to global uncertainties. Furthermore, increasing environmental concerns and the push towards sustainable practices could influence both production and demand in the coming years.
