Morocco: Permanent Magnet Market 2024

Permanent Magnet Market Size in Morocco

In 2021, after two years of growth, there was significant decline in the Moroccan permanent magnet market, when its value decreased by -35.2% to $X. Overall, consumption, however, enjoyed a remarkable increase. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Permanent Magnet Exports

Exports from Morocco

In 2021, shipments abroad of permanent magnets increased by 574% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, recorded a relatively flat trend pattern. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, permanent magnet exports surged to $X in 2021. Overall, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Guinea (X tons) was the main destination for permanent magnet exports from Morocco, with a 57% share of total exports. Moreover, permanent magnet exports to Guinea exceeded the volume sent to the second major destination, Ireland (X tons), twofold. Germany (X kg) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Guinea totaled +120.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (0.0% per year) and Germany (+50.1% per year).

In value terms, Guinea ($X) emerged as the key foreign market for permanent magnets exports from Morocco, comprising 61% of total exports. The second position in the ranking was taken by Ireland ($X), with a 17% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Guinea stood at +115.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (0.0% per year) and Germany (+71.7% per year).

Export Prices by Country

In 2021, the average permanent magnet export price amounted to $X per ton, picking up by 27% against the previous year. In general, the export price saw a resilient increase. The pace of growth appeared the most rapid in 2015 an increase of 223%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Spain ($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 China (+58.9%), while the prices for the other major destinations experienced more modest paces of growth.

Permanent Magnet Imports

Imports into Morocco

After two years of growth, purchases abroad of permanent magnets decreased by -28.5% to X tons in 2021. Over the period under review, imports, however, recorded a noticeable expansion. The pace of growth was the most pronounced in 2017 when imports increased by 313%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, permanent magnet imports shrank dramatically to $X in 2021. Overall, imports, however, recorded prominent growth. The growth pace was the most rapid in 2017 with an increase of 125%. Imports peaked at $X in 2020, and then declined sharply in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest permanent magnet supplier to Morocco, with a 28% share of total imports. Moreover, permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. Germany (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-9.1% per year) and Germany (+26.0% per year).

In value terms, Germany ($X) constituted the largest supplier of permanent magnets to Morocco, comprising 25% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.1% per year) and China (+1.6% per year).

Import Prices by Country

The average permanent magnet import price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, permanent magnet import price increased by +166.6% against 2017 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by 81%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then declined in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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