Slovakia: Permanent Magnet Market 2024

Permanent Magnet Market Size in Slovakia

In 2021, the Slovak permanent magnet market increased by 22% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, recorded a deep downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Permanent Magnet Exports

Exports from Slovakia

After two years of decline, shipments abroad of permanent magnets increased by 5.6% to X tons in 2021. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -14.8% against 2018 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 62%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, permanent magnet exports surged to $X in 2021. In general, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 43% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for permanent magnet exports from Slovakia, with a 50% share of total exports. Moreover, permanent magnet exports to Germany exceeded the volume sent to the second major destination, the Czech Republic (X tons), twofold. The third position in this ranking was held by Austria (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+7.8% per year) and Austria (+15.3% per year).

In value terms, Germany ($X) remains the key foreign market for permanent magnets exports from Slovakia, comprising 66% of total exports. The second position in the ranking was taken by Austria ($X), with a 22% share of total exports. It was followed by the Czech Republic, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+73.7% per year) and the Czech Republic (+0.2% per year).

Export Prices by Country

In 2021, the average permanent magnet export price amounted to $X per ton, rising by 24% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 65%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Bulgaria ($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 Austria (+50.7%), while the prices for the other major destinations experienced more modest paces of growth.

Permanent Magnet Imports

Imports into Slovakia

In 2021, supplies from abroad of permanent magnets increased by 14% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, permanent magnet imports skyrocketed to $X in 2021. Overall, imports, however, saw a perceptible contraction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X tons), China (X tons) and Italy (X tons) were the main suppliers of permanent magnet imports to Slovakia, together accounting for 95% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +1.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest permanent magnet suppliers to Slovakia were Germany ($X), China ($X) and Italy ($X), together comprising 84% of total imports.

Among the main suppliers, Italy, with a CAGR of +8.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average permanent magnet import price amounted to $X per ton, growing by 16% against the previous year. Over the period under review, the import price recorded a moderate increase. The pace of growth appeared the most rapid in 2018 an increase of 38%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+29.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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