Kenya: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Kenya

The Kenyan non-metal permanent magnet market fell rapidly to $X in 2023, with a decrease of X% 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, however, saw a pronounced increase. As a result, consumption attained the peak level of $X, and then reduced rapidly in the following year.

Non-Metal Permanent Magnet Exports

Exports from Kenya

In 2023, non-metal permanent magnet exports from Kenya surged to X kg, rising by X% against the previous year. Over the period under review, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at X kg in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, non-metal permanent magnet exports skyrocketed to $X in 2023. Overall, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Ghana (X kg) was the main destination for non-metal permanent magnet exports from Kenya, accounting for a X% share of total exports. Moreover, non-metal permanent magnet exports to Ghana exceeded the volume sent to the second major destination, Uganda (X kg), threefold. The third position in this ranking was taken by Ethiopia (X kg), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Ghana amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (X% per year) and Ethiopia (X% per year).

In value terms, Uganda ($X) remains the key foreign market for non-metal permanent magnets exports from Kenya, comprising X% of total exports. The second position in the ranking was taken by Tanzania ($X), with a X% share of total exports. It was followed by Zambia, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Uganda amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (X% per year) and Zambia (X% per year).

Export Prices by Country

The average non-metal permanent magnet export price stood at $X per ton in 2023, reducing by X% against the previous year. Overall, the export price showed a noticeable downturn. The most prominent rate of growth was recorded in 2022 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Zambia ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (X%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Metal Permanent Magnet Imports

Imports into Kenya

In 2023, imports of non-metal permanent magnets into Kenya shrank dramatically to X tons, which is down by X% compared with 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then declined sharply in the following year.

In value terms, non-metal permanent magnet imports contracted markedly to $X in 2023. Overall, imports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports hit record highs at $X in 2022, and then contracted markedly in the following year.

Imports by Country

China (X tons), India (X tons) and the UK (X kg) were the main suppliers of non-metal permanent magnet imports to Kenya, with a combined X% share of total imports. France, the United States and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for France (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest non-metal permanent magnet suppliers to Kenya were China ($X), India ($X) and the UK ($X), together comprising X% of total imports. France, the United States and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, France, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

The average non-metal permanent magnet import price stood at $X per ton in 2023, increasing by X% against the previous year. In general, the import price enjoyed a remarkable increase. The growth pace was the most rapid in 2017 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2018 to 2023, the average import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform