Brazil: Permanent Magnet Market 2024

Permanent Magnet Market Size in Brazil

In 2021, after six years of growth, there was decline in the Brazilian permanent magnet market, when its value decreased by -4.8% to $X. Overall, consumption, however, posted a prominent increase. Permanent magnet consumption peaked at $X in 2020, and then dropped in the following year.

Permanent Magnet Production in Brazil

In value terms, permanent magnet production totaled $X in 2021 estimated in export price. Overall, production showed a abrupt contraction. Permanent magnet production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Permanent Magnet Exports

Exports from Brazil

In 2021, shipments abroad of permanent magnets decreased by -22.1% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, continue to indicate a slight expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 236%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, permanent magnet exports declined rapidly to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 52% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Argentina (X tons), Ecuador (X tons) and Mexico (X tons) were the main destinations of permanent magnet exports from Brazil, with a combined 78% share of total exports. China, Peru, Colombia and Paraguay lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +146.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for permanent magnet exported from Brazil were Argentina ($X), China ($X) and Colombia ($X), with a combined 40% share of total exports.

China, with a CAGR of +125.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average permanent magnet export price stood at $X per ton in 2021, dropping by -18% against the previous year. Overall, the export price showed a mild shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 42% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Ecuador ($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 Peru (+5.0%), while the prices for the other major destinations experienced mixed trend patterns.

Permanent Magnet Imports

Imports into Brazil

Permanent magnet imports into Brazil soared to X tons in 2021, growing by 31% on the previous year. Over the period under review, total imports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +127.5% against 2016 indices. The pace of growth was the most pronounced in 2018 with an increase of 34%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, permanent magnet imports skyrocketed to $X in 2021. Overall, imports enjoyed a modest expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest permanent magnet supplier to Brazil, with a 71% share of total imports. Moreover, permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sixfold. South Korea (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+106.2% per year) and South Korea (+6.4% per year).

In value terms, China ($X) constituted the largest supplier of permanent magnets to Brazil, comprising 72% of total imports. The second position in the ranking was held by Vietnam ($X), with a 7% share of total imports. It was followed by South Korea, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+68.7% per year) and South Korea (+5.6% per year).

Import Prices by Country

In 2021, the average permanent magnet import price amounted to $X per ton, growing by 47% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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