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World - Permanent Magnets - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

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

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Mar 31, 2021

The Permanent Magnet Market to Expect Significant Growth Thanks to the Electric Vehicle Industry

IndexBox has just published a new report: 'World - Permanent Magnets - Market Analysis, Forecast, Size, Trends, and Insights.' Here is a summary of the report's key findings.

With the development of the electric car and electronic technology industry, the demand for permanent magnets shows significant growth. Thanks to government subsidies, China continues to maintain low market prices for permanent magnets and dominate the export market.

Key Trends and Insights

The permanent magnet market predicts significant growth in the coming years due to the rapid development of consuming industries: electric vehicles, wind turbines, electronics, household appliances. The highest demand is for high-performance and lightweight neodymium iron boron (NdFeB) magnets.

The expansion of the permanent magnet industry will be driven mainly by China's consuming industries' growth. According to the China State Council's New Energy Vehicles (NEV) Industry Development Plan, NEV will account for 20% of the country's total vehicle sales by 2025, up from a market share of just 4.7% in 2019. This will lead to a significant increase in the need for permanent magnets. In one NEV, permanent magnets are used 2-3 times more by weight than in a car with an internal combustion engine.

The widespread adoption of telecommunication technologies drives electronics production, which also stimulates the market for permanent magnets. According to the National Bureau of Statistics of China, the production of tablet computers increased by 33% in January-September 2020.

Subsidies from the Chinese government to the industry help the country keep prices on permanent magnets down, making the imported products uncompetitive on the local market.

The US government has also begun to actively subsidize the rare earth and permanent magnet industries to reduce dependence on Chinese imports.

China Is Set to Dominate the Permanent Magnets Exports

In 2019, the global permanent magnet market increased by 2.6% to $7.6B, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +1.2% from 2012 to 2019.

In value terms, the largest permanent magnet markets worldwide were China ($1.5B), the U.S. ($866M), and Germany ($513M), with a combined 37% share of the global market. Indonesia, Canada, the Philippines, Japan, Mexico, South Korea, Vietnam, Thailand, India, and Italy lagged, together comprising a further 34% (IndexBox estimates).

The countries with the highest levels of permanent magnet per capita consumption in 2019 were Germany (346 units per 1000 persons), Canada (275 units per 1000 persons), and Thailand (251 units per 1000 persons).

From 2012 to 2019, the most notable growth rate in terms of permanent magnet per capita consumption amongst the key consuming countries was attained by the Philippines, while permanent magnet per capita consumption for the other global leaders experienced more modest growth.

In value terms, China ($2.5B) remains the largest permanent magnet supplier worldwide, comprising 51% of global exports. The second position in the ranking was occupied by Japan ($541M), with an 11% share of global exports. It was followed by Germany, with a 6.9% share (IndexBox estimates).

From 2012 to 2019, the average annual growth rate in terms of value in China was relatively modest. The remaining exporting countries recorded the following average annual export growth rates: Japan (-7.4% per year) and Germany (-1.8% per year).

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was the U.S. ($20 per unit), while Indonesia ($3.3 per unit) was amongst the lowest.

Driven by increasing demand for permanent magnets worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.2% for the period from 2019 to 2030, projected to bring the market volume to 783M units by the end of 2030.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global permanent magnet market. 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:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 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. 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. 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. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. 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, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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