Greece: Metal Permanent Magnet Market 2024

Metal Permanent Magnet Market Size in Greece

The Greek metal permanent magnet market soared to $X in 2022, rising by 68% 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). In general, consumption recorded a noticeable increase. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Metal Permanent Magnet Exports

Exports from Greece

In 2022, shipments abroad of metal permanent magnets decreased by -5.1% to X tons, falling for the third year in a row after five years of growth. Overall, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2013 with an increase of 1,086%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal permanent magnet exports surged to $X in 2022. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 517% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for metal permanent magnet exports from Greece, accounting for a 22% share of total exports. Moreover, metal permanent magnet exports to Spain exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. Singapore (X tons) ranked third in terms of total exports with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to Spain stood at +85.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+57.3% per year) and Singapore (+73.7% per year).

In value terms, Spain ($X) emerged as the key foreign market for metal permanent magnets exports from Greece, comprising 37% of total exports. The second position in the ranking was taken by the UK ($X), with an 8.5% share of total exports. It was followed by Malta, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value to Spain totaled +71.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+23.5% per year) and Malta (+115.5% per year).

Export Prices by Country

In 2022, the average metal permanent magnet export price amounted to $X per ton, with an increase of 50% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 137%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (-2.8%), while the prices for the other major destinations experienced a decline.

Metal Permanent Magnet Imports

Imports into Greece

In 2022, approx. X tons of metal permanent magnets were imported into Greece; jumping by 47% compared with the previous year. Over the period under review, imports showed a pronounced increase. The most prominent rate of growth was recorded in 2015 with an increase of 90%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, metal permanent magnet imports soared to $X in 2022. In general, imports saw a resilient expansion. The pace of growth was the most pronounced in 2015 when imports increased by 98% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal permanent magnet to Greece, with a 69% share of total imports. Moreover, metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. The third position in this ranking was taken by Germany (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+41.3% per year) and Germany (+8.4% per year).

In value terms, China ($X) constituted the largest supplier of metal permanent magnets to Greece, comprising 49% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 19% share of total imports. It was followed by Germany, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+29.8% per year) and Germany (+6.2% per year).

Import Prices by Country

In 2022, the average metal permanent magnet import price amounted to $X per ton, picking up by 16% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal permanent magnet import price decreased by -20.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of 32% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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