Angola: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Angola

The Angolan non-metal permanent magnet market declined markedly to $X in 2021, dropping by -38.7% 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 faced a deep setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Non-Metal Permanent Magnet Exports

Exports from Angola

In 2021, exports of non-metal permanent magnets from Angola dropped sharply to X kg, waning by -97.4% compared with 2020. Over the period under review, exports, however, posted a remarkable increase. The growth pace was the most rapid in 2015 when exports increased by 893%. As a result, the exports attained the peak of X kg. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, non-metal permanent magnet exports surged to $X in 2021. Overall, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 1,256% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Namibia (X kg), the UK (X kg) and the United Arab Emirates (X kg) were the main destinations of non-metal permanent magnet exports from Angola. Moreover, non-metal permanent magnet exports in Namibia exceeded the figures recorded by the second-largest exporter, the UK, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +18.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-metal permanent magnet exported from Angola were the UK ($X), the United Arab Emirates ($X) and Namibia ($X), together accounting for 100% of total exports.

In terms of the main countries of destination, the UK, with a CAGR of +81.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average non-metal permanent magnet export price stood at $X per ton in 2021, jumping by 5,780% against the previous year. In general, the export price saw significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Namibia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Congo (+59.7%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into Angola

In 2021, non-metal permanent magnet imports into Angola declined remarkably to X tons, shrinking by -42.2% against 2020 figures. In general, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2019 when imports increased by 190% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, non-metal permanent magnet imports shrank dramatically to $X in 2021. Overall, imports showed a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 160%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of non-metal permanent magnet to Angola, accounting for a 49% share of total imports. Moreover, non-metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Portugal (X kg), fivefold. The United States (X kg) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-32.1% per year) and the United States (-28.2% per year).

In value terms, France ($X) constituted the largest supplier of non-metal permanent magnets to Angola, comprising 45% of total imports. The second position in the ranking was taken by Norway ($X), with a 17% share of total imports. It was followed by Portugal, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value from France amounted to +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+39.7% per year) and Portugal (-30.9% per year).

Import Prices by Country

In 2021, the average non-metal permanent magnet import price amounted to $X per ton, with an increase of 5.2% against the previous year. Over the period under review, the import price continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 when the average import price increased by 141% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Namibia (+35.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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