United Kingdom: Permanent Magnet Market 2025

Permanent Magnet Market Size in the UK

The UK permanent magnet market soared to $X in 2021, with an increase of 33% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt curtailment. Permanent magnet consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Permanent Magnet Production in the UK

In value terms, permanent magnet production reduced modestly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 19%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Permanent Magnet Exports

Exports from the UK

In 2021, shipments abroad of permanent magnets decreased by -20.3% to X tons, falling for the third year in a row after three years of growth. Overall, exports recorded a abrupt decline. The pace of growth was the most pronounced in 2017 when exports increased by 17% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, permanent magnet exports surged to $X in 2021. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for permanent magnet exports from the UK, with a 34% share of total exports. Moreover, permanent magnet exports to Germany exceeded the volume sent to the second major destination, France (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-11.3% per year) and the United States (-11.3% per year).

In value terms, Germany ($X), Singapore ($X) and the United States ($X) constituted the largest markets for permanent magnet exported from the UK worldwide, with a combined 52% share of total exports. The Philippines, France, the Netherlands, Italy, Hungary, Poland, Denmark, Ireland, Sweden and Finland lagged somewhat behind, together accounting for a further 29%.

Among the main countries of destination, the Philippines, with a CAGR of +102.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average permanent magnet export price amounted to $X per ton, picking up by 75% against the previous year. Overall, the export price showed a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Permanent Magnet Imports

Imports into the UK

In 2021, approx. X tons of permanent magnets were imported into the UK; surging by 6.6% against 2020. In general, imports saw a measured increase. The pace of growth was the most pronounced in 2019 with an increase of 63%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, permanent magnet imports soared to $X in 2021. Overall, total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -32.5% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 46%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest permanent magnet supplier to the UK, accounting for a 87% share of total imports. Moreover, permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-4.2% per year) and the Netherlands (-7.0% per year).

In value terms, China ($X) constituted the largest supplier of permanent magnets to the UK, comprising 71% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 6.2% share of total imports. It was followed by Germany, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+1.1% per year) and Germany (+1.6% per year).

Import Prices by Country

In 2021, the average permanent magnet import price amounted to $X per ton, picking up by 15% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 27% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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