Peru: Permanent Magnet Market 2025

Permanent Magnet Market Size in Peru

The Peruvian permanent magnet market rose remarkably to $X in 2021, with an increase of 6% 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, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -11.4% against 2019 indices. Permanent magnet consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Permanent Magnet Exports

Exports from Peru

Permanent magnet exports from Peru soared to X tons in 2021, rising by 148% against 2020. In general, exports showed a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 239% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

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

Exports by Country

Chile (X tons) was the main destination for permanent magnet exports from Peru, accounting for a 65% share of total exports. Moreover, permanent magnet exports to Chile exceeded the volume sent to the second major destination, Nicaragua (X tons), threefold. Ecuador (X kg) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile amounted to +31.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+660.0% per year) and Ecuador (+23.7% per year).

In value terms, Nicaragua ($X) emerged as the key foreign market for permanent magnets exports from Peru, comprising 62% of total exports. The second position in the ranking was held by Chile ($X), with a 7.6% share of total exports. It was followed by Ecuador, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to Nicaragua stood at +1,368.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+15.5% per year) and Ecuador (+50.4% per year).

Export Prices by Country

In 2021, the average permanent magnet export price amounted to $X per ton, growing by 72% against the previous year. Over the period under review, the export price enjoyed tangible growth. The pace of growth was the most pronounced in 2017 when the average export price increased by 85% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Chile ($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 Nicaragua (+93.1%), while the prices for the other major destinations experienced mixed trend patterns.

Permanent Magnet Imports

Imports into Peru

In 2021, the amount of permanent magnets imported into Peru rose notably to X tons, growing by 13% against 2020 figures. Over the period under review, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -8.1% against 2019 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 64% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, permanent magnet imports amounted to $X in 2021. Overall, total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -10.1% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 59% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of permanent magnet to Peru, accounting for a 93% share of total imports. It was followed by the United States (X tons), with a 1.9% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.4% per year) and Brazil (-21.3% per year).

In value terms, China ($X) constituted the largest supplier of permanent magnets to Peru, comprising 70% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.7% per year) and Brazil (-19.6% per year).

Import Prices by Country

In 2021, the average permanent magnet import price amounted to $X per ton, falling by -7.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2013 when the average import price increased by 65% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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 the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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