Pakistan: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Pakistan

The Pakistani non-metal permanent magnet market skyrocketed to $X in 2021, jumping by 18% 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). Over the period under review, consumption showed a strong expansion. Non-metal permanent magnet consumption peaked in 2021 and is expected to retain growth in the near future.

Non-Metal Permanent Magnet Exports

Exports from Pakistan

In 2021, the amount of non-metal permanent magnets exported from Pakistan skyrocketed to X kg, rising by 90% against the previous year. Overall, exports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 2,733% against the previous year. The exports peaked at X kg in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-metal permanent magnet exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 3,240% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X kg) was the main destination for non-metal permanent magnet exports from Pakistan, with a 60% share of total exports. Moreover, non-metal permanent magnet exports to Qatar exceeded the volume sent to the second major destination, the United States (X kg), threefold. Greece (X kg) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar totaled -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+27.3% per year) and Greece (-13.8% per year).

In value terms, Greece ($X) remains the key foreign market for non-metal permanent magnets exports from Pakistan, comprising 71% of total exports. The second position in the ranking was held by the United States ($X), with a 17% share of total exports. It was followed by Canada, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value to Greece amounted to -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+30.8% per year) and Canada (+4.3% per year).

Export Prices by Country

The average non-metal permanent magnet export price stood at $X per ton in 2021, picking up by 2.5% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-metal permanent magnet export price increased by +32.9% against 2016 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 53%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Qatar ($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 Greece (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into Pakistan

In 2021, imports of non-metal permanent magnets into Pakistan expanded markedly to X tons, with an increase of 6.8% on the previous year. Overall, imports posted resilient growth. The growth pace was the most rapid in 2018 when imports increased by 58%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, non-metal permanent magnet imports surged to $X in 2021. In general, imports showed prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 42%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest non-metal permanent magnet supplier to Pakistan, with a 88% share of total imports. Moreover, non-metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +14.2%.

In value terms, China ($X) constituted the largest supplier of non-metal permanent magnets to Pakistan, comprising 91% of total imports. The second position in the ranking was held by Germany ($X), with a 3.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +15.6%.

Import Prices by Country

The average non-metal permanent magnet import price stood at $X per ton in 2021, picking up by 17% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Germany totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.7%).

Source: IndexBox Platform

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