Greece: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Greece

In 2021, after two years of decline, there was significant growth in the Greek non-metal permanent magnet market, when its value increased by 12% to $X. Over the period under review, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -15.1% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Non-Metal Permanent Magnet Exports

Exports from Greece

In 2021, overseas shipments of non-metal permanent magnets increased by 349% to X tons, rising for the fourth year in a row after five years of decline. Overall, exports saw significant growth. The growth pace was the most rapid in 2018 when exports increased by 696% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, non-metal permanent magnet exports skyrocketed to $X in 2021. Over the period under review, exports saw a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of 378%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Portugal (X tons), Hungary (X tons) and Romania (X tons) were the main destinations of non-metal permanent magnet exports from Greece, together comprising 77% 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 Hungary (with a CAGR of +322.6%), while the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X) emerged as the key foreign market for non-metal permanent magnets exports from Greece, comprising 50% of total exports. The second position in the ranking was taken by Romania ($X), with a 20% share of total exports. It was followed by Italy, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hungary amounted to +261.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+90.9% per year) and Italy (+12.6% per year).

Export Prices by Country

In 2021, the average non-metal permanent magnet export price amounted to $X per ton, which is down by -21.8% against the previous year. In general, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 69%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Portugal ($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 Panama (+77.1%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Metal Permanent Magnet Imports

Imports into Greece

In 2021, overseas purchases of non-metal permanent magnets were finally on the rise to reach X tons after two years of decline. Overall, imports showed resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of 44% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, non-metal permanent magnet imports surged to $X in 2021. In general, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of non-metal permanent magnet to Greece, accounting for a 52% share of total imports. Moreover, non-metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was held by Turkey (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.6% per year) and Turkey (+73.9% per year).

In value terms, China ($X), Italy ($X) and Turkey ($X) constituted the largest non-metal permanent magnet suppliers to Greece, together accounting for 70% of total imports.

Among the main suppliers, Turkey, with a CAGR of +51.8%, 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 2.7% against the previous year. Overall, the import price, however, continues to indicate a mild slump. The most prominent rate of growth was recorded in 2020 when the average import price increased by 16% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 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 Italy ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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