Iran: Metal Permanent Magnet Market 2025

Metal Permanent Magnet Market Size in Iran

In 2022, after three years of growth, there was significant decline in the Iranian metal permanent magnet market, when its value decreased by -23.4% to $X. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Metal Permanent Magnet Exports

Exports from Iran

After five years of growth, overseas shipments of metal permanent magnets decreased by -45.6% to X kg in 2022. In general, exports, however, showed a pronounced expansion. The pace of growth was the most pronounced in 2020 when exports increased by 351%. Over the period under review, the exports attained the peak figure at X kg in 2021, and then dropped remarkably in the following year.

In value terms, metal permanent magnet exports amounted to $X in 2022. Over the period under review, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 330%. As a result, the exports attained the peak of $X; afterwards, it flattened through to 2022.

Exports by Country

Azerbaijan (X kg) was the main destination for metal permanent magnet exports from Iran, with a 69% share of total exports. Moreover, metal permanent magnet exports to Azerbaijan exceeded the volume sent to the second major destination, Georgia (X kg), sevenfold. The third position in this ranking was held by Uzbekistan (X kg), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Azerbaijan amounted to +20.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (-11.3% per year) and Uzbekistan (+14.4% per year).

In value terms, Uzbekistan ($X) emerged as the key foreign market for metal permanent magnets exports from Iran, comprising 70% of total exports. The second position in the ranking was held by Azerbaijan ($X), with a 23% share of total exports. It was followed by Georgia, with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Uzbekistan amounted to +20.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (+25.0% per year) and Georgia (-13.4% per year).

Export Prices by Country

In 2022, the average metal permanent magnet export price amounted to $X per ton, surging by 84% against the previous year. Overall, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Georgia ($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 Armenia (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Permanent Magnet Imports

Imports into Iran

After three years of growth, overseas purchases of metal permanent magnets decreased by -34.6% to X tons in 2022. Over the period under review, imports continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2019 with an increase of 133% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, metal permanent magnet imports dropped dramatically to $X in 2022. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 114% against the previous year. Imports peaked at $X in 2021, and then shrank markedly in the following year.

Imports by Country

In 2022, China (X tons) was the main supplier of metal permanent magnet to Iran, accounting for a approx. 98% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -1.7%.

In value terms, China ($X) constituted the largest supplier of metal permanent magnets to Iran.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest.

Import Prices by Country

The average metal permanent magnet import price stood at $X per ton in 2022, rising by 23% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.0% 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 increased by +60.7% against 2020 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by 45%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +2.6% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :