Egypt: Permanent Magnet Market 2024

Permanent Magnet Market Size in Egypt

In 2021, the Egyptian permanent magnet market decreased by -10.7% to $X, falling for the second consecutive year after five years of growth. Over the period under review, consumption, however, continues to indicate a strong expansion. Permanent magnet consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Permanent Magnet Exports

Exports from Egypt

Permanent magnet exports from Egypt shrank remarkably to X kg in 2021, dropping by -85.5% on the previous year's figure. Overall, exports faced a sharp setback. The growth pace was the most rapid in 2017 with an increase of 293% 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 remained at a lower figure.

In value terms, permanent magnet exports reduced rapidly to $X in 2021. Over the period under review, exports recorded a precipitous contraction. The pace of growth was the most pronounced in 2017 when exports increased by 391% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X kg) was the main destination for permanent magnet exports from Egypt, accounting for a 67% share of total exports. Moreover, permanent magnet exports to Nigeria exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), fourfold. The third position in this ranking was taken by France (X kg), with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nigeria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-22.0% per year) and France (-49.0% per year).

In value terms, Nigeria ($X) emerged as the key foreign market for permanent magnets exports from Egypt, comprising 36% of total exports. The second position in the ranking was taken by Turkey ($X), with a 12% share of total exports. It was followed by Tunisia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Nigeria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+0.6% per year) and Tunisia (-43.2% per year).

Export Prices by Country

The average permanent magnet export price stood at $X per ton in 2021, surging by 44% against the previous year. In general, the export price recorded a pronounced expansion. The pace of growth was the most pronounced in 2018 an increase of 175% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Costa Rica ($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 Turkey (+22.8%), while the prices for the other major destinations experienced more modest paces of growth.

Permanent Magnet Imports

Imports into Egypt

In 2021, overseas purchases of permanent magnets decreased by -15.1% to X tons, falling for the second consecutive year after five years of growth. In general, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 100%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, permanent magnet imports reduced modestly to $X in 2021. Overall, total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.4% 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 decreased by -35.3% against 2019 indices. The growth pace was the most rapid in 2018 with an increase of 56%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), South Korea (X tons) and Italy (X tons) were the main suppliers of permanent magnet imports to Egypt, with a combined 79% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +113.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of permanent magnets to Egypt, comprising 36% of total imports. The second position in the ranking was taken by Italy ($X), with a 12% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-4.0% per year) and Thailand (+21.1% per year).

Import Prices by Country

In 2021, the average permanent magnet import price amounted to $X per ton, with an increase of 14% against the previous year. In general, the import price, however, continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2020 when the average import price increased by 25%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for South Korea ($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 UK (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :