Latvia: Permanent Magnet Market 2020

Permanent Magnet Market Size in Latvia

The revenue of the permanent magnet market in Latvia amounted to $X in 2018, going up by X% 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, permanent magnet consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 when the market value increased by X% year-to-year. Latvia permanent magnet consumption peaked at $X in 2013; however, from 2014 to 2018, consumption stood at a somewhat lower figure.

Permanent Magnet Exports

Exports from Latvia

In 2018, approx. X tons of permanent magnets were exported from Latvia; growing by X% against the previous year. In general, permanent magnet exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Over the period under review, permanent magnet exports attained their peak figure in 2018 and are expected to retain its growth in the near future.

In value terms, permanent magnet exports amounted to $X in 2018. Overall, permanent magnet exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2011 with an increase of X% against the previous year. In that year, permanent magnet exports attained their peak of $X. From 2012 to 2018, the growth of permanent magnet exports remained at a somewhat lower figure.

Exports by Country

China dominates permanent magnet exports structure, accounting for X tons, which was near X% of total exports in 2018. It was distantly followed by South Korea (X tons) and Japan (X tons), together mixing up a X% share of total exports. The following exporters - Germany (X tons), Malaysia (X tons), Italy (X tons), the U.S. (X tons) and the Netherlands (X tons) - together made up X% of total exports.

Exports from China increased at an average annual rate of +X% from 2007 to 2018. At the same time, Malaysia (+X%), South Korea (+X%), the Netherlands (+X%), Germany (+X%) and Italy (+X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. By contrast, Japan (-X%) and the U.S. (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of China, South Korea and Malaysia increased by +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest permanent magnet supplier from Latvia, comprising X% of global exports. The second position in the ranking was occupied by Japan ($X), with a X% share of global exports. It was followed by Germany, with a X% share.

From 2007 to 2018, the average annual growth rate of value in China totaled +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+X% per year) and Germany (+X% per year).

Export Prices by Country

The permanent magnet export price in Latvia stood at $X per ton in 2018, shrinking by -X% against the previous year. Overall, the permanent magnet export price continues to indicate a moderate reduction. The growth pace was the most rapid in 2011 when the export price increased by X% y-o-y. Over the period under review, the export prices for permanent magnets attained their maximum at $X per ton in 2015; however, from 2016 to 2018, export prices failed to regain their momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Permanent Magnet Imports

Imports into Latvia

In 2018, approx. X tons of permanent magnets were imported into Latvia; picking up by X% against the previous year. In general, permanent magnet imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 when imports increased by X% against the previous year. Latvia imports peaked at X tons in 2013; however, from 2014 to 2018, imports failed to regain their momentum.

In value terms, permanent magnet imports totaled $X in 2018. Over the period under review, the total imports indicated a mild increase from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, permanent magnet imports increased by +X% against 2016 indices. The growth pace was the most rapid in 2011 when imports increased by X% year-to-year. Over the period under review, permanent magnet imports reached their maximum at $X in 2014; however, from 2015 to 2018, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of permanent magnet imports in 2018 were the U.S. (X tons), Mexico (X tons), Germany (X tons), India (X tons), Malaysia (X tons), Vietnam (X tons), China, Hong Kong SAR (X tons), China (X tons), Thailand (X tons), Japan (X tons), Italy (X tons) and South Korea (X tons), together reaching X% of total import.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by India, while the other leaders experienced more modest paces of growth.

In value terms, the largest permanent magnet importing markets into Latvia were Germany ($X), the U.S. ($X) and China ($X), together comprising X% of total imports. Thailand, China, Hong Kong SAR, Mexico, South Korea, Vietnam, Malaysia, Japan, Italy, India and Latvia lagged somewhat behind, together accounting for a further X Nam experienced the highest growth rate of imports, in terms of the main importing countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The permanent magnet import price in Latvia stood at $X per ton in 2018, declining by -X% against the previous year. In general, the permanent magnet import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X% year-to-year. In that year, the import prices for permanent magnets reached their peak level of $X per ton. From 2015 to 2018, the growth in terms of the import prices for permanent magnets remained at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was South Korea ($X per ton), while India ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by South Korea, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform