Report Update Nov 1, 2024

Venezuela - Permanent Magnets - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Permanent Magnet Market 2024

Permanent Magnet Market Size in Venezuela

The Venezuelan permanent magnet market fell notably to $X in 2021, waning by -20% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a abrupt setback. Permanent magnet consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Permanent Magnet Exports

Exports from Venezuela

Permanent magnet exports from Venezuela rose notably to X tons in 2021, picking up by 11% on 2020 figures. Over the period under review, exports, however, showed a deep reduction. The pace of growth was the most pronounced in 2017 when exports increased by 269%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, permanent magnet exports soared to $X in 2021. Overall, exports, however, recorded a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by 19%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Aruba (X tons) was the main destination for permanent magnet exports from Venezuela, with a 94% share of total exports. Moreover, permanent magnet exports to Aruba exceeded the volume sent to the second major destination, Canada (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Aruba amounted to -5.9%.

In value terms, Aruba ($X) remains the key foreign market for permanent magnets exports from Venezuela, comprising 93% of total exports. The second position in the ranking was held by Canada ($X), with a 6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Aruba amounted to -2.9%.

Export Prices by Country

In 2021, the average permanent magnet export price amounted to $X per ton, picking up by 6.1% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 96%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Aruba ($X per ton), while the average price for exports to Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (+3.2%).

Permanent Magnet Imports

Imports into Venezuela

In 2021, approx. X tons of permanent magnets were imported into Venezuela; waning by -18.2% compared with 2020 figures. Over the period under review, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 when imports increased by 112%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, permanent magnet imports shrank markedly to $X in 2021. Overall, imports recorded a dramatic contraction. The pace of growth was the most pronounced in 2020 when imports increased by 120% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Hong Kong SAR (X tons), Austria (X tons) and China (X tons) were the main suppliers of permanent magnet imports to Venezuela, with a combined 75% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +59.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Italy ($X) and the United States ($X) appeared to be the largest permanent magnet suppliers to Venezuela, with a combined 63% share of total imports.

In terms of the main suppliers, Austria, with a CAGR of +32.3%, 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 mixed trend patterns.

Import Prices by Country

The average permanent magnet import price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the import price, however, saw a abrupt setback. The growth pace was the most rapid in 2014 when the average import price increased by 48%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Hong Kong SAR ($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 (+16.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for permanent magnets in the world?

The country with the largest volume of permanent magnet consumption was China, accounting for 26% of total volume. Moreover, permanent magnet consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. The third position in this ranking was occupied by Vietnam, with a 7.9% share.

What are the largest producers of permanent magnets in the world?

China constituted the country with the largest volume of permanent magnet production, comprising approx. 60% of total volume. Moreover, permanent magnet production in China exceeded the figures recorded by the second-largest producer, the United States, sevenfold. Japan ranked third in terms of total production with a 5.7% share.

What are the leading suppliers of permanent magnets to Venezuela?

In value terms, the United States constituted the largest supplier of permanent magnet to Venezuela, comprising 30% of total imports. The second position in the ranking was occupied by Austria, with an 11% share of total imports. It was followed by China, with a 5.3% share.

What are the leading importers of permanent magnets from Venezuela?

In value terms, Aruba $357), Costa Rica $212) and Canada $47) constituted the largest markets for permanent magnet exported from Venezuela worldwide.

What is the average export price for permanent magnets in Venezuela?

In 2020, the average permanent magnet export price amounted to $14 per unit, growing by 11% against the previous year.

What is the average import price for permanent magnets in Venezuela?

In 2020, the average permanent magnet import price amounted to $11 per unit, picking up by 15% against the previous year.

This report provides an in-depth analysis of the permanent magnet market in Venezuela. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 23441230 - Permanent magnets and articles intended to become permanent magnets (excluding of metal)
Prodcom 25992995 - Permanent magnets and articles intended to become permanent magnets, of metal

Country coverage:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023