Cameroon: Metal Permanent Magnet Market 2025

Metal Permanent Magnet Market Size in Cameroon

The Cameroonian metal permanent magnet market contracted remarkably to $X in 2022, with a decrease of -17.3% 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, however, continues to indicate a strong increase. Metal permanent magnet consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Metal Permanent Magnet Exports

Exports from Cameroon

Metal permanent magnet exports from Cameroon skyrocketed to X kg in 2022, picking up by 276% on the year before. Over the period under review, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 555%. The exports peaked at X kg in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, metal permanent magnet exports soared to $X in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 643% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X kg) was the main destination for metal permanent magnet exports from Cameroon, accounting for a 52% share of total exports. Moreover, metal permanent magnet exports to the United States exceeded the volume sent to the second major destination, Canada (X kg), twofold. The third position in this ranking was held by Angola (X kg), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+54.4% per year) and Angola (+39.0% per year).

In value terms, the largest markets for metal permanent magnet exported from Cameroon were Austria ($X), the United States ($X) and Angola ($X), together accounting for 84% of total exports. These countries were followed by Canada, which accounted for a further 7.9%.

In terms of the main countries of destination, Canada, with a CAGR of +84.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average metal permanent magnet export price amounted to $X per ton, declining by -12.5% against the previous year. Over the period under review, the export price, however, posted a prominent increase. The pace of growth appeared the most rapid in 2014 an increase of 126%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Permanent Magnet Imports

Imports into Cameroon

Metal permanent magnet imports into Cameroon contracted slightly to X tons in 2022, which is down by -4.1% on 2021. In general, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2014 when imports increased by 371%. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted modestly in the following year.

In value terms, metal permanent magnet imports shrank remarkably to $X in 2022. Over the period under review, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2014 when imports increased by 569%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest metal permanent magnet supplier to Cameroon, with a 56% share of total imports. Moreover, metal permanent magnet imports from Italy exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Switzerland (X kg) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume from Italy stood at +84.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+75.0% per year) and Switzerland (+46.8% per year).

In value terms, France ($X), Italy ($X) and Singapore ($X) were the largest metal permanent magnet suppliers to Cameroon, with a combined 35% share of total imports. Switzerland, the United States, China, Turkey and India lagged somewhat behind, together comprising a further 25%.

Among the main suppliers, China, with a CAGR of +40.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal permanent magnet import price amounted to $X per ton, reducing by -21.5% against the previous year. Overall, the import price recorded a deep setback. The pace of growth was the most pronounced in 2018 when the average import price increased by 71% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+16.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform