Saudi Arabia: Metal Permanent Magnet Market 2025

Metal Permanent Magnet Market Size in Saudi Arabia

The Saudi metal permanent magnet market reduced to $X in 2022, dropping by -7.8% against the previous year. In general, consumption showed a perceptible slump. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Permanent Magnet Production in Saudi Arabia

In value terms, metal permanent magnet production declined modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 40% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Metal Permanent Magnet Exports

Exports from Saudi Arabia

After two years of decline, overseas shipments of metal permanent magnets increased by 116% to X kg in 2022. Over the period under review, exports, however, showed a deep setback. The pace of growth appeared the most rapid in 2013 when exports increased by 495%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal permanent magnet exports declined to $X in 2022. In general, exports, however, saw a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of 597%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Finland (X kg), Egypt (X kg) and the Netherlands (X kg) were the main destinations of metal permanent magnet exports from Saudi Arabia, together comprising 33% of total exports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +60.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Finland ($X) emerged as the key foreign market for metal permanent magnets exports from Saudi Arabia, comprising 43% of total exports. The second position in the ranking was held by Egypt ($X), with a 10% share of total exports. It was followed by Austria, with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Finland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+12.6% per year) and Austria (-47.3% per year).

Export Prices by Country

The average metal permanent magnet export price stood at $X per ton in 2022, declining by -59.8% against the previous year. Overall, the export price showed a mild curtailment. The most prominent rate of growth was recorded in 2021 when the average export price increased by 139% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank dramatically in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (-4.6%), while the prices for the other major destinations experienced a decline.

Metal Permanent Magnet Imports

Imports into Saudi Arabia

Metal permanent magnet imports into Saudi Arabia totaled X tons in 2021, approximately mirroring 2020 figures. Overall, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 45% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, metal permanent magnet imports stood at $X in 2021. Over the period under review, imports saw prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 191% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of metal permanent magnet to Saudi Arabia, with a 51% share of total imports. Moreover, metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+39.2% per year) and Germany (-4.4% per year).

In value terms, the largest metal permanent magnet suppliers to Saudi Arabia were Germany ($X), China ($X) and Italy ($X), with a combined 72% share of total imports.

Germany, with a CAGR of +29.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 metal permanent magnet import price amounted to $X per ton, stabilizing at the previous year. In general, the import price posted tangible growth. The most prominent rate of growth was recorded in 2013 an increase of 101%. 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 Germany ($X per ton), while the price for Italy ($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 UK (+35.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :