MENA: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in MENA

In 2021, the MENA's non-metal permanent magnet market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Non-Metal Permanent Magnet Production in MENA

In value terms, non-metal permanent magnet production stood at $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -16.5% against 2017 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 67%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Non-Metal Permanent Magnet Exports

Exports in MENA

In 2021, overseas shipments of non-metal permanent magnets increased by 34% to X tons, rising for the second consecutive year after two years of decline. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2014 with an increase of 65%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, non-metal permanent magnet exports surged to $X in 2021. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2014 when exports increased by 71%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Israel was the largest exporting country with an export of about X tons, which recorded 71% of total exports. Tunisia (X tons) ranks second in terms of the total exports with a 15% share, followed by Turkey (12%). The United Arab Emirates (X tons) followed a long way behind the leaders.

Israel was also the fastest-growing in terms of the non-metal permanent magnets exports, with a CAGR of +31.4% from 2012 to 2021. At the same time, Tunisia (+19.3%) and Turkey (+8.9%) displayed positive paces of growth. By contrast, the United Arab Emirates (-1.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Israel increased by +37 percentage points.

In value terms, Israel ($X) remains the largest non-metal permanent magnet supplier in MENA, comprising 89% of total exports. The second position in the ranking was taken by Turkey ($X), with a 7% share of total exports. It was followed by Tunisia, with a 3.4% share.

In Israel, non-metal permanent magnet exports increased at an average annual rate of +35.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+9.6% per year) and Tunisia (+11.3% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, reducing by -9.3% against the previous year. In general, the export price, however, posted a measured expansion. The most prominent rate of growth was recorded in 2018 an increase of 40% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+2.8%), while the other leaders experienced mixed trends in the export price figures.

Non-Metal Permanent Magnet Imports

Imports in MENA

In 2021, overseas purchases of non-metal permanent magnets increased by 31% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-metal permanent magnet imports stood at $X in 2021. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 14% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey dominates imports structure, amounting to X tons, which was near 75% of total imports in 2021. The United Arab Emirates (X tons) took an 8.2% share (based on physical terms) of total imports, which put it in second place, followed by Iran (7.6%). Israel (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to non-metal permanent magnet imports into Turkey stood at +3.7%. At the same time, the United Arab Emirates (+16.7%) and Israel (+1.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +16.7% from 2012-2021. Iran experienced a relatively flat trend pattern. The United Arab Emirates (+5.5 p.p.) and Turkey (+4.8 p.p.) significantly strengthened its position in terms of the total imports, while Iran saw its share reduced by -2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported non-metal permanent magnets in MENA, comprising 62% of total imports. The second position in the ranking was taken by Israel ($X), with a 12% share of total imports. It was followed by the United Arab Emirates, with a 9.1% share.

In Turkey, non-metal permanent magnet imports increased at an average annual rate of +1.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Israel (+1.7% per year) and the United Arab Emirates (+11.6% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, reducing by -14% against the previous year. Overall, the import price continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2013 an increase of 5%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform