Guatemala: Metal Permanent Magnet Market 2024

Metal Permanent Magnet Market Size in Guatemala

The Guatemalan metal permanent magnet market declined to $X in 2022, waning by -2.3% against the previous year. Overall, consumption recorded a slight reduction. Metal permanent magnet consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Metal Permanent Magnet Production in Guatemala

In value terms, metal permanent magnet production fell modestly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 19% against the previous year. Metal permanent magnet production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Metal Permanent Magnet Exports

Exports from Guatemala

Metal permanent magnet exports from Guatemala fell notably to X tons in 2022, declining by -61.5% compared with 2021. In general, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 291,500% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal permanent magnet exports dropped notably to $X in 2022. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 263,338% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Costa Rica (X kg) was the main destination for metal permanent magnet exports from Guatemala, accounting for a 63% share of total exports. Moreover, metal permanent magnet exports to Costa Rica exceeded the volume sent to the second major destination, El Salvador (X kg), twofold.

From 2012 to 2022, the average annual growth rate of volume to Costa Rica totaled +147.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+28.1% per year) and Honduras (+5.7% per year).

In value terms, the largest markets for metal permanent magnet exported from Guatemala were Costa Rica ($X), El Salvador ($X) and Honduras ($X), together accounting for 99% of total exports.

Costa Rica, with a CAGR of +118.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average metal permanent magnet export price stood at $X per ton in 2022, which is down by -47.7% against the previous year. In general, the export price, however, recorded moderate growth. The pace of growth appeared the most rapid in 2016 an increase of 52% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Costa Rica ($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 Panama (+12.9%), while the prices for the other major destinations experienced a decline.

Metal Permanent Magnet Imports

Imports into Guatemala

In 2022, supplies from abroad of metal permanent magnets decreased by -33.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports saw a abrupt shrinkage. The growth pace was the most rapid in 2014 when imports increased by 147%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, metal permanent magnet imports plummeted to $X in 2022. Over the period under review, imports showed a abrupt setback. The growth pace was the most rapid in 2016 when imports increased by 163% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Mexico (X tons) and Spain (X kg) were the main suppliers of metal permanent magnet imports to Guatemala, together comprising 81% of total imports. The United States, Germany, Taiwan (Chinese) and Italy lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +85.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal permanent magnet suppliers to Guatemala were China ($X), Spain ($X) and the United States ($X), with a combined 69% share of total imports. Germany, Mexico, Italy and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Italy, with a CAGR of +83.1%, recorded 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

In 2022, the average metal permanent magnet import price amounted to $X per ton, surging by 3.1% against the previous year. Overall, the import price, however, continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2013 an increase of 30%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+14.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform