Latin America and the Caribbean: Metal Permanent Magnet Market 2025

Metal Permanent Magnet Market Size in Latin America and the Caribbean

The Latin American metal permanent magnet market rose sharply to $X in 2022, picking up by 11% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +96.8% against 2016 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Metal Permanent Magnet Production in Latin America and the Caribbean

In value terms, metal permanent magnet production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a remarkable increase. The growth pace was the most rapid in 2019 with an increase of 81% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Metal Permanent Magnet Exports

Exports in Latin America and the Caribbean

For the fourth year in a row, LatAmerica and the Caribbean recorded growth in overseas shipments of metal permanent magnets, which increased by 6.8% to X tons in 2022. In general, exports saw a strong expansion. The pace of growth was the most pronounced in 2021 when exports increased by 197%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, metal permanent magnet exports skyrocketed to $X in 2022. Over the period under review, exports recorded resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of 80% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Mexico prevails in exports structure, reaching X tons, which was near 94% of total exports in 2022. Brazil (X tons) followed a long way behind the leaders.

Exports from Mexico increased at an average annual rate of +15.1% from 2012 to 2022. At the same time, Brazil (+21.7%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +21.7% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest metal permanent magnet supplier in Latin America and the Caribbean, comprising 92% of total exports. The second position in the ranking was taken by Brazil ($X), with a 2.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Mexico totaled +8.1%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, surging by 17% against the previous year. Overall, the export price, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when the export price increased by 60%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Brazil totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-6.1%).

Metal Permanent Magnet Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of metal permanent magnets increased by 8.4% to X tons, rising for the third consecutive year after five years of decline. In general, imports saw a pronounced expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 177% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, metal permanent magnet imports soared to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 51%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Mexico dominates imports structure, finishing at X tons, which was approx. 91% of total imports in 2022. It was distantly followed by Brazil (X tons), making up a 4.5% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to metal permanent magnet imports into Mexico stood at +3.5%. At the same time, Brazil (+6.8%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +6.8% from 2012-2022. Mexico (+7.9 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported metal permanent magnets in Latin America and the Caribbean, comprising 85% of total imports. The second position in the ranking was taken by Brazil ($X), with an 11% share of total imports.

In Mexico, metal permanent magnet imports expanded at an average annual rate of +6.7% over the period from 2012-2022.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, rising by 18% against the previous year. Overall, the import price continues to indicate temperate growth. The pace of growth appeared the most rapid in 2015 an increase of 52%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Mexico amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.1%).

Source: IndexBox Platform

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