Ecuador: Non-Metal Permanent Magnet Market 2025

Non-Metal Permanent Magnet Market Size in Ecuador

The Ecuadorian non-metal permanent magnet market skyrocketed to $X in 2021, with an increase of 44% 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, consumption, however, saw a noticeable contraction. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Non-Metal Permanent Magnet Exports

Exports from Ecuador

In 2021, overseas shipments of non-metal permanent magnets decreased by -8.7% to X kg, falling for the second consecutive year after two years of growth. In general, exports recorded a sharp shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 453% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-metal permanent magnet exports declined sharply to $X in 2021. Overall, exports recorded a sharp decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 308% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X kg), the United States (X kg) and Canada (X kg) were the main destinations of non-metal permanent magnet exports from Ecuador, with a combined 67% share of total exports. These countries were followed by Peru, Nicaragua, Guatemala, Colombia and France, which together accounted for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nicaragua (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, France ($X) remains the key foreign market for non-metal permanent magnets exports from Ecuador, comprising 72% of total exports. The second position in the ranking was held by Venezuela ($X), with an 8.5% share of total exports. It was followed by the United States, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value to France amounted to -16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-43.6% per year) and the United States (-26.1% per year).

Export Prices by Country

In 2021, the average non-metal permanent magnet export price amounted to $X per ton, dropping by -9.4% against the previous year. Over the period under review, the export price, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2017 an increase of 115%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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 France ($X per ton), while the average price for exports to Guatemala ($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 France (+6.9%), while the prices for the other major destinations experienced a decline.

Non-Metal Permanent Magnet Imports

Imports into Ecuador

In 2021, the amount of non-metal permanent magnets imported into Ecuador surged to X tons, rising by 39% against 2020. Overall, imports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2013 when imports increased by 49%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, non-metal permanent magnet imports soared to $X in 2021. Over the period under review, imports, however, showed a perceptible downturn. The growth pace was the most rapid in 2013 with an increase of 60% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Colombia (X tons), Brazil (X tons) and China (X tons) were the main suppliers of non-metal permanent magnet imports to Ecuador, together accounting for 91% of total imports. These countries were followed by Mexico, the United States and Taiwan (Chinese), which together accounted for a further 5.9%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +18.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Colombia ($X), China ($X) and Brazil ($X) constituted the largest non-metal permanent magnet suppliers to Ecuador, with a combined 72% share of total imports. The United States, Mexico and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 18%.

In terms of the main suppliers, Mexico, with a CAGR of +19.0%, 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

The average non-metal permanent magnet import price stood at $X per ton in 2021, increasing by 5.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 14% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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