South Africa: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in South Africa

The South African non-metal permanent magnet market contracted modestly to $X in 2023, falling by X% against the previous year. Over the period under review, the total consumption indicated noticeable growth 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, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2019 to 2023, the growth of the market failed to regain momentum.

Non-Metal Permanent Magnet Production in South Africa

In value terms, non-metal permanent magnet production rose modestly to $X in 2023 estimated in export price. Overall, the total production indicated a resilient increase 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 increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of X%. Non-metal permanent magnet production peaked at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Non-Metal Permanent Magnet Exports

Exports from South Africa

In 2023, the amount of non-metal permanent magnets exported from South Africa rose rapidly to X tons, growing by X% on the year before. In general, exports recorded a modest expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2023 and are likely to see gradual growth in the near future.

In value terms, non-metal permanent magnet exports skyrocketed to $X in 2023. Overall, exports, however, saw a noticeable downturn. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Zimbabwe (X tons) was the main destination for non-metal permanent magnet exports from South Africa, accounting for a X% share of total exports. Moreover, non-metal permanent magnet exports to Zimbabwe exceeded the volume sent to the second major destination, Namibia (X tons), fourfold. Democratic Republic of the Congo (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Zimbabwe totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (X% per year) and Democratic Republic of the Congo (X% per year).

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

Zimbabwe, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average non-metal permanent magnet export price amounted to $X per ton, surging by X% against the previous year. Overall, the export price, however, saw a noticeable reduction. The growth pace was the most rapid in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 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 Mozambique ($X per ton), while the average price for exports to Botswana ($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 Burkina Faso (X%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into South Africa

In 2023, purchases abroad of non-metal permanent magnets decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports showed a pronounced decline. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, non-metal permanent magnet imports reduced to $X in 2023. Overall, imports showed a pronounced shrinkage. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of non-metal permanent magnet to South Africa, accounting for a X% share of total imports. Moreover, non-metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), sixfold.

From 2012 to 2023, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Germany (X% per year).

In value terms, China ($X) constituted the largest supplier of non-metal permanent magnets to South Africa, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with an X% share of total imports.

From 2012 to 2023, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Italy (X% per year).

Import Prices by Country

The average non-metal permanent magnet import price stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a perceptible contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a 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 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform