South Africa: Permanent Magnet Market 2025

Permanent Magnet Market Size in South Africa

The South African permanent magnet market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, continues to indicate a perceptible slump. 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 South Africa

In 2021, the amount of permanent magnets exported from South Africa soared to X tons, picking up by 23% against 2020 figures. Over the period under review, exports, however, saw a slight descent. The pace of growth was the most pronounced in 2018 with an increase of 37%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, permanent magnet exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a slight contraction. The pace of growth appeared the most rapid in 2018 with an increase of 42% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X tons), Zimbabwe (X tons) and Latvia (X tons) were the main destinations of permanent magnet exports from South Africa, with a combined 69% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Zimbabwe (with a CAGR of +21.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for permanent magnet exported from South Africa were Democratic Republic of the Congo ($X), Zimbabwe ($X) and Australia ($X), together comprising 60% of total exports.

Among the main countries of destination, Zimbabwe, with a CAGR of +30.3%, saw the highest growth rate of 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, picking up by 2.9% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 19% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 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 Australia ($X per ton), while the average price for exports to Botswana ($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 Latvia (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.

Permanent Magnet Imports

Imports into South Africa

In 2021, after two years of decline, there was significant growth in overseas purchases of permanent magnets, when their volume increased by 21% to X tons. Over the period under review, imports, however, showed a perceptible reduction. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, permanent magnet imports skyrocketed to $X in 2021. In general, imports, however, showed a perceptible curtailment. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of permanent magnet to South Africa, accounting for a 75% share of total imports. Moreover, permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. The third position in this ranking was taken by India (X tons), with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.8% per year) and India (+26.5% per year).

In value terms, China ($X) constituted the largest supplier of permanent magnets to South Africa, comprising 66% of total imports. The second position in the ranking was taken by Italy ($X), with a 6.1% share of total imports. It was followed by Germany, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-3.0% per year) and Germany (-7.6% per year).

Import Prices by Country

In 2021, the average permanent magnet import price amounted to $X per ton, dropping by -3% against the previous year. Over the period under review, the import price recorded a slight setback. The most prominent rate of growth was recorded in 2020 an increase of 11% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 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 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 Germany (+20.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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