MENA: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in MENA

The MENA's non-metal permanent magnet market rose to $X in 2023, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Non-Metal Permanent Magnet Production in MENA

In value terms, non-metal permanent magnet production expanded modestly to $X in 2023 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Non-Metal Permanent Magnet Exports

Exports in MENA

After two years of growth, shipments abroad of non-metal permanent magnets decreased by X% to X tons in 2023. Over the period under review, exports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2022, and then shrank dramatically in the following year.

In value terms, non-metal permanent magnet exports fell sharply to $X in 2023. In general, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Israel (X tons) represented the main exporter of non-metal permanent magnets, mixing up X% of total exports. Turkey (X tons) ranks second in terms of the total exports with a X% share, followed by Tunisia (X%).

Israel was also the fastest-growing in terms of the non-metal permanent magnets exports, with a CAGR of X% from 2012 to 2023. At the same time, Tunisia (X%) and Turkey (X%) displayed positive paces of growth. While the share of Israel (X p.p.) and Tunisia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Turkey (X p.p.) displayed negative dynamics.

In value terms, Israel ($X) remains the largest non-metal permanent magnet supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports.

In Israel, non-metal permanent magnet exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and Tunisia (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the export price, however, showed a moderate expansion. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced mixed trends in the export price figures.

Non-Metal Permanent Magnet Imports

Imports in MENA

In 2023, after two years of growth, there was significant decline in supplies from abroad of non-metal permanent magnets, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2022, and then contracted in the following year.

In value terms, non-metal permanent magnet imports reduced to $X in 2023. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

Turkey prevails in imports structure, amounting to X tons, which was near X% of total imports in 2023. The United Arab Emirates (X tons) held the second position in the ranking, followed by Iran (X tons). All these countries together held approx. X% share of total imports. Israel (X tons), Egypt (X tons) and Algeria (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%), Egypt (X%) and Algeria (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. Israel experienced a relatively flat trend pattern. By contrast, Iran (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the United Arab Emirates and Turkey increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported non-metal permanent magnets in MENA, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Israel, with a X% share.

In Turkey, non-metal permanent magnet imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Israel (X% per year).

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price recorded a slight slump. The pace of growth appeared the most rapid in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Iran (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform