Central Asia: Permanent Magnet Market 2024

Permanent Magnet Market Size in Central Asia

The Central Asian permanent magnet market amounted to $X in 2021, surging by 1.9% against the previous year. Over the period under review, consumption enjoyed a prominent expansion. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Permanent Magnet Production in Central Asia

In value terms, permanent magnet production shrank slightly to $X in 2021 estimated in export price. In general, production showed a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 41% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then shrank in the following year.

Permanent Magnet Exports

Exports in Central Asia

In 2021, shipments abroad of permanent magnets decreased by -3.7% to X tons, falling for the fourth consecutive year after two years of growth. Overall, exports, however, posted a temperate increase. The pace of growth appeared the most rapid in 2014 when exports increased by 1,156% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, permanent magnet exports fell remarkably to $X in 2021. In general, exports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of 658% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Kazakhstan dominates exports structure, resulting at X kg, which was approx. 82% of total exports in 2021. Kyrgyzstan (X kg) ranks second in terms of the total exports with a 9.9% share, followed by Uzbekistan (6.7%).

Exports from Kazakhstan increased at an average annual rate of +2.0% from 2012 to 2021. At the same time, Uzbekistan (+43.4%) and Kyrgyzstan (+22.8%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +43.4% from 2012-2021. Kyrgyzstan (+7.8 p.p.) and Uzbekistan (+6.3 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -10.7% from 2012 to 2021, respectively.

In value terms, Kazakhstan ($X) remains the largest permanent magnet supplier in Central Asia, comprising 70% of total exports. The second position in the ranking was held by Kyrgyzstan ($X), with a 17% share of total exports.

In Kazakhstan, permanent magnet exports increased at an average annual rate of +4.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Kyrgyzstan (+40.1% per year) and Uzbekistan (+41.0% per year).

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, waning by -45.9% against the previous year. Over the period under review, the export price, however, continues to indicate a tangible expansion. The pace of growth was the most pronounced in 2015 when the export price increased by 403%. Over the period under review, the export prices reached the peak figure at $X per ton in 2020, and then contracted sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+14.1%), while the other leaders experienced mixed trends in the export price figures.

Permanent Magnet Imports

Imports in Central Asia

In 2021, permanent magnet imports in Central Asia shrank dramatically to X tons, with a decrease of -19.6% on 2020. Over the period under review, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 88% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, permanent magnet imports contracted dramatically to $X in 2021. Overall, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 76% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then reduced markedly in the following year.

Imports by Country

In 2021, Kazakhstan (X tons) was the key importer of permanent magnets, creating 74% of total imports. Uzbekistan (X tons) took the second position in the ranking, distantly followed by Kyrgyzstan (X tons). All these countries together took approx. 21% share of total imports. The following importers - Mongolia (X tons) and Turkmenistan (X tons) - together made up 4.6% of total imports.

Imports into Kazakhstan increased at an average annual rate of +15.1% from 2012 to 2021. At the same time, Uzbekistan (+35.8%), Kyrgyzstan (+22.2%), Mongolia (+19.8%) and Turkmenistan (+17.8%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +35.8% from 2012-2021. Uzbekistan (+16 p.p.) significantly strengthened its position in terms of the total imports, while Kazakhstan saw its share reduced by -17.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest permanent magnet importing markets in Central Asia were Kazakhstan ($X), Uzbekistan ($X) and Mongolia ($X), with a combined 96% share of total imports.

Among the main importing countries, Uzbekistan, with a CAGR of +30.5%, saw 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 2021, the import price in Central Asia amounted to $X per ton, reducing by -6.6% against the previous year. Overall, the import price recorded a perceptible reduction. The pace of growth was the most pronounced in 2019 an increase of 70%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mongolia (+8.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :