Slovakia: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Slovakia

In 2021, the Slovak non-metal permanent magnet market increased by 34% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +45.2% against 2019 indices. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the near future.

Non-Metal Permanent Magnet Exports

Exports from Slovakia

Non-metal permanent magnet exports from Slovakia rose notably to X tons in 2021, increasing by 12% compared with the previous year's figure. Overall, exports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 110%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, non-metal permanent magnet exports rose sharply to $X in 2021. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2013 when exports increased by 167%. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

The Czech Republic (X tons) was the main destination for non-metal permanent magnet exports from Slovakia, accounting for a 47% share of total exports. Moreover, non-metal permanent magnet exports to the Czech Republic exceeded the volume sent to the second major destination, Hungary (X tons), threefold. Austria (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to the Czech Republic amounted to +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+22.7% per year) and Austria (+5.3% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for non-metal permanent magnets exports from Slovakia, comprising 39% of total exports. The second position in the ranking was taken by Poland ($X), with an 18% share of total exports. It was followed by Hungary, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the Czech Republic totaled +10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+70.4% per year) and Hungary (+12.9% per year).

Export Prices by Country

The average non-metal permanent magnet export price stood at $X per ton in 2021, reducing by -3.3% against the previous year. Over the period under review, the export price saw a perceptible slump. The most prominent rate of growth was recorded in 2014 an increase of 31% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Austria ($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 Poland (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into Slovakia

In 2021, supplies from abroad of non-metal permanent magnets increased by 20% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% 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 increased by +32.4% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 35%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, non-metal permanent magnet imports surged to $X in 2021. Overall, imports showed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest non-metal permanent magnet supplier to Slovakia, with a 59% share of total imports. Moreover, non-metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+23.5% per year) and Italy (-0.1% per year).

In value terms, the largest non-metal permanent magnet suppliers to Slovakia were China ($X), Germany ($X) and Italy ($X), together accounting for 95% of total imports.

Germany, with a CAGR of +31.0%, saw the highest growth rate of the value of imports, among 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 non-metal permanent magnet import price amounted to $X per ton, with an increase of 45% against the previous year. Overall, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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