Colombia: Non-Metal Permanent Magnet Market 2025

Non-Metal Permanent Magnet Market Size in Colombia

The Colombian non-metal permanent magnet market soared to $X in 2021, jumping by 42% 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). Overall, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.9% 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 +61.1% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Non-Metal Permanent Magnet Exports

Exports from Colombia

In 2021, exports of non-metal permanent magnets from Colombia soared to X tons, rising by 176% against the year before. Over the period under review, exports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 269%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, non-metal permanent magnet exports skyrocketed to $X in 2021. In general, exports showed a slight increase. The most prominent rate of growth was recorded in 2013 with an increase of 128% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ecuador (X tons) was the main destination for non-metal permanent magnet exports from Colombia, with a 70% share of total exports. Moreover, non-metal permanent magnet exports to Ecuador exceeded the volume sent to the second major destination, Chile (X tons), sixfold.

From 2012 to 2021, the average annual growth rate of volume to Ecuador stood at -6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+14.2% per year) and Argentina (+8.7% per year).

In value terms, Ecuador ($X) remains the key foreign market for non-metal permanent magnets exports from Colombia, comprising 57% of total exports. The second position in the ranking was held by Argentina ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Ecuador totaled -2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+43.0% per year) and Chile (+18.7% per year).

Export Prices by Country

In 2021, the average non-metal permanent magnet export price amounted to $X per ton, reducing by -19.4% against the previous year. In general, the export price, however, posted strong growth. The most prominent rate of growth was recorded in 2018 an increase of 125%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Chile ($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 Argentina (+31.5%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into Colombia

In 2021, the amount of non-metal permanent magnets imported into Colombia soared to X tons, picking up by 45% on the previous year's figure. In general, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +82.0% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-metal permanent magnet imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +5.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons) and Germany (X tons) were the main suppliers of non-metal permanent magnet imports to Colombia.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +8.1%).

In value terms, the largest non-metal permanent magnet suppliers to Colombia were China ($X) and Germany ($X).

Germany, with a CAGR of +10.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2021, the average non-metal permanent magnet import price amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price, however, recorded a slight shrinkage. The pace of growth appeared the most rapid in 2015 an increase of 9% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.1%).

Source: IndexBox Platform

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