Turkey: Permanent Magnet Market 2024

Permanent Magnet Market Size in Turkey

In 2022, the Turkish permanent magnet market increased by X% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption recorded strong growth. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Permanent Magnet Production in Turkey

In value terms, permanent magnet production reduced dramatically to $X in 2022 estimated in export price. Over the period under review, production faced a sharp shrinkage. Over the period under review, production hit record highs at $X in 2021, and then dropped notably in the following year.

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Permanent Magnet Exports

Exports from Turkey

In 2022, overseas shipments of permanent magnets increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports showed a resilient expansion. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, permanent magnet exports skyrocketed to $X in 2022. In general, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for permanent magnet exports from Turkey, accounting for a X% share of total exports. Moreover, permanent magnet exports to Germany exceeded the volume sent to the second major destination, France (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Russia (X% per year).

In value terms, Germany ($X) remains the key foreign market for permanent magnets exports from Turkey, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and the United States (X% per year).

Export Prices by Country

The average permanent magnet export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price posted a strong increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Permanent Magnet Imports

Imports into Turkey

In 2022, supplies from abroad of permanent magnets increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, permanent magnet imports skyrocketed to $X in 2022. In general, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of permanent magnet imports to Turkey, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

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

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average permanent magnet import price amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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