Portugal: Permanent Magnet Market 2024

Permanent Magnet Market Size in Portugal

In 2021, the Portuguese permanent magnet market decreased by -13.9% to $X, falling for the second consecutive year after four years of growth. In general, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.1% 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 -20.1% against 2019 indices. Permanent magnet consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Permanent Magnet Exports

Exports from Portugal

In 2021, shipments abroad of permanent magnets was finally on the rise to reach X tons after two years of decline. Overall, exports posted prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 134%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, permanent magnet exports soared to $X in 2021. In general, exports saw a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 79%. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Austria (X tons), the United States (X tons) and Spain (X tons) were the main destinations of permanent magnet exports from Portugal, with a combined 74% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +243.4%), while the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), the United States ($X) and Japan ($X) were the largest markets for permanent magnet exported from Portugal worldwide, together comprising 67% of total exports.

In terms of the main countries of destination, Japan, with a CAGR of +294.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average permanent magnet export price stood at $X per ton in 2021, with an increase of 9.5% against the previous year. In general, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.0% 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 export price increased by +115.3% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 55%. The export price peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Spain ($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 Algeria (+64.4%), while the prices for the other major destinations experienced more modest paces of growth.

Permanent Magnet Imports

Imports into Portugal

In 2021, purchases abroad of permanent magnets decreased by -11.7% to X tons, falling for the second year in a row after two years of growth. Overall, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.3% 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 -14.5% against 2019 indices. The growth pace was the most rapid in 2018 when imports increased by 37%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, permanent magnet imports fell to $X in 2021. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% 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 -18.1% against 2019 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 30% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of permanent magnet imports to Portugal, together accounting for 75% of total imports. These countries were followed by France, Spain, Italy, Japan and the UK, which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +32.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest permanent magnet suppliers to Portugal were Germany ($X), China ($X) and Italy ($X), together comprising 81% of total imports.

Among the main suppliers, China, with a CAGR of +30.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average permanent magnet import price amounted to $X per ton, with an increase of 2.7% against the previous year. Overall, the import price, however, saw a noticeable decline. The growth pace was the most rapid in 2017 an increase of 15% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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 Japan ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+21.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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