Chile: Permanent Magnet Market 2024

Permanent Magnet Market Size in Chile

In 2021, the Chilean permanent magnet market increased by 24% to $X, rising for the seventh consecutive year after two years of decline. In general, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +68.3% against 2014 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Permanent Magnet Production in Chile

In value terms, permanent magnet production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when the production volume increased by 5.5%. Over the period under review, production attained the maximum level at $X in 2020, and then dropped modestly in the following year.

Permanent Magnet Exports

Exports from Chile

In 2021, permanent magnet exports from Chile soared to X tons, picking up by 125% against the previous year's figure. Over the period under review, exports saw moderate growth. The growth pace was the most rapid in 2013 with an increase of 313% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, permanent magnet exports soared to $X in 2021. In general, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by 545%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Peru (X tons), Bolivia (X tons) and Argentina (X tons) were the main destinations of permanent magnet exports from Chile, together accounting for 78% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bolivia (with a CAGR of +42.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for permanent magnet exported from Chile were Peru ($X), Bolivia ($X) and Paraguay ($X), with a combined 86% share of total exports. Argentina, Brazil, Ecuador, Mexico and Colombia lagged somewhat behind, together accounting for a further 10%.

Among the main countries of destination, Brazil, with a CAGR of +82.6%, saw the highest rates of growth with regard to 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

The average permanent magnet export price stood at $X per ton in 2021, increasing by 11% against the previous year. Overall, the export price posted strong growth. The growth pace was the most rapid in 2020 when the average export price increased by 349%. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Colombia ($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 Germany (+92.0%), while the prices for the other major destinations experienced more modest paces of growth.

Permanent Magnet Imports

Imports into Chile

Permanent magnet imports into Chile soared to X tons in 2021, growing by 109% compared with 2020 figures. Over the period under review, imports recorded a notable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, permanent magnet imports surged to $X in 2021. In general, imports saw strong growth. 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) was the main permanent magnet supplier to Chile, accounting for a 95% share of total imports. It was followed by Colombia (X tons), with a 1.5% share of total imports. The United States (X tons) ranked third in terms of total imports with a 0.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+10.5% per year) and the United States (-11.1% per year).

In value terms, China ($X) constituted the largest supplier of permanent magnets to Chile, comprising 79% of total imports. The second position in the ranking was taken by the United States ($X), with a 9.1% share of total imports. It was followed by Germany, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.6% per year) and Germany (-12.2% per year).

Import Prices by Country

The average permanent magnet import price stood at $X per ton in 2021, with a decrease of -12.6% against the previous year. Over the last nine years, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 45% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+42.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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