Report Update Feb 1, 2025

Ghana - Permanent Magnets - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Permanent Magnet Market 2025

Permanent Magnet Market Size in Ghana

The Ghanian permanent magnet market shrank remarkably to $X in 2021, which is down by -41.7% 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 saw a abrupt descent. Permanent magnet consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Permanent Magnet Exports

Exports from Ghana

In 2021, the amount of permanent magnets exported from Ghana soared to X kg, jumping by 331% compared with 2020 figures. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 682%. Over the period under review, the exports hit record highs at X kg in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, permanent magnet exports skyrocketed to $X in 2021. In general, exports enjoyed significant growth. The pace of growth was the most pronounced in 2018 with an increase of 517% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X kg) was the main destination for permanent magnet exports from Ghana, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands totaled +43.2%.

In value terms, the Netherlands ($X) also remains the key foreign market for permanent magnets exports from Ghana.

From 2012 to 2021, the average annual growth rate of value to the Netherlands totaled +41.0%.

Export Prices by Country

In 2021, the average permanent magnet export price amounted to $X per ton, falling by -17.3% against the previous year. In general, the export price, however, posted temperate growth. The pace of growth was the most pronounced in 2016 an increase of 159%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From 2012 to 2021, the rate of growth in terms of prices for Cote d'Ivoire amounted to +230.3% per year.

Permanent Magnet Imports

Imports into Ghana

In 2021, the amount of permanent magnets imported into Ghana reduced notably to X tons, which is down by -55.8% compared with 2020. Overall, imports showed a deep setback. The pace of growth appeared the most rapid in 2014 when imports increased by 410%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, permanent magnet imports contracted dramatically to $X in 2021. In general, imports showed a deep slump. The growth pace was the most rapid in 2014 with an increase of 293% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest permanent magnet supplier to Ghana, accounting for a 59% share of total imports. Moreover, permanent magnet imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The UK (X kg) ranked third in terms of total imports with an 8% share.

From 2012 to 2021, the average annual growth rate of volume from India totaled +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.8% per year) and the UK (+2.3% per year).

In value terms, India ($X), the UK ($X) and Russia ($X) were the largest permanent magnet suppliers to Ghana, together accounting for 60% of total imports. These countries were followed by the Netherlands, China, Cote d'Ivoire, Sweden and Gabon, which together accounted for a further 19%.

Sweden, with a CAGR of +13.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average permanent magnet import price amounted to $X per ton, picking up by 55% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices attained the maximum 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 supplying countries. In 2021, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for permanent magnets in the world?

The country with the largest volume of permanent magnet consumption was China, comprising approx. 26% of total volume. Moreover, permanent magnet consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. The third position in this ranking was occupied by Vietnam, with a 7.9% share.

What are the largest producers of permanent magnets in the world?

China remains the largest permanent magnet producing country worldwide, comprising approx. 60% of total volume. Moreover, permanent magnet production in China exceeded the figures recorded by the second-largest producer, the United States, sevenfold. Japan ranked third in terms of total production with a 5.7% share.

What are the leading suppliers of permanent magnets to Ghana?

In value terms, the UK constituted the largest supplier of permanent magnet to Ghana, comprising 48% of total imports. The second position in the ranking was occupied by China, with a 14% share of total imports. It was followed by India, with an 11% share.

What are the leading importers of permanent magnets from Ghana?

In value terms, the largest markets for permanent magnet exported from Ghana were Mozambique and South Africa.

What is the average export price for permanent magnets in Ghana?

In 2020, the average permanent magnet export price amounted to $16 per unit, declining by -69.6% against the previous year.

What is the average import price for permanent magnets in Ghana?

The average permanent magnet import price stood at $8.7 per unit in 2020, which is down by -28.4% against the previous year.

This report provides an in-depth analysis of the permanent magnet market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 23441230 - Permanent magnets and articles intended to become permanent magnets (excluding of metal)
Prodcom 25992995 - Permanent magnets and articles intended to become permanent magnets, of metal

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024