Kenya: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Kenya

In 2021, after three years of growth, there was significant decline in the Kenyan non-metal permanent magnet market, when its value decreased by -25.5% to $X. In general, consumption, however, showed a mild increase. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Non-Metal Permanent Magnet Exports

Exports from Kenya

In 2021, exports of non-metal permanent magnets from Kenya amounted to X kg, growing by 5.9% on 2020 figures. Over the period under review, exports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2015 when exports increased by 193%. Over the period under review, the exports hit record highs at X kg in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, non-metal permanent magnet exports soared to $X in 2021. Overall, exports, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2018 when exports increased by 179%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Uganda (X kg), Ghana (X kg) and Ethiopia (X kg) were the main destinations of non-metal permanent magnet exports from Kenya, with a combined 73% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Ethiopia (with a CAGR of +16.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Uganda ($X) emerged as the key foreign market for non-metal permanent magnets exports from Kenya, comprising 42% of total exports. The second position in the ranking was held by Zambia ($X), with a 17% share of total exports. It was followed by Ethiopia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Uganda amounted to -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (+6.6% per year) and Ethiopia (+8.6% per year).

Export Prices by Country

In 2021, the average non-metal permanent magnet export price amounted to $X per ton, rising by 52% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 60% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 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 Zambia ($X per ton), while the average price for exports to Tanzania ($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 Zambia (+9.9%), while the prices for the other major destinations experienced a decline.

Non-Metal Permanent Magnet Imports

Imports into Kenya

In 2021, after three years of growth, there was significant decline in supplies from abroad of non-metal permanent magnets, when their volume decreased by -30.2% to X tons. Overall, imports recorded a noticeable descent. The most prominent rate of growth was recorded in 2016 when imports increased by 161% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, non-metal permanent magnet imports declined remarkably to $X in 2021. Over the period under review, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 182%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and Portugal (X tons) were the main suppliers of non-metal permanent magnet imports to Kenya, together comprising 84% of total imports. The UK, Turkey, Hong Kong SAR and Germany lagged somewhat behind, together comprising a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +34.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-metal permanent magnet suppliers to Kenya were Portugal ($X), China ($X) and India ($X), with a combined 76% share of total imports. These countries were followed by the UK, Germany, Hong Kong SAR and Turkey, which together accounted for a further 13%.

Turkey, with a CAGR of +18.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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, surging by 14% against the previous year. In general, the import price showed a resilient increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by 82%. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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