Australia: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Australia

The Australian non-metal permanent magnet market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Non-Metal Permanent Magnet Exports

Exports from Australia

In 2021, shipments abroad of non-metal permanent magnets decreased by -25.3% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2018 when exports increased by 177%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-metal permanent magnet exports contracted rapidly to $X in 2021. In general, exports, however, enjoyed moderate growth. The most prominent rate of growth was recorded in 2019 with an increase of 103% against the previous year. The exports peaked at $X in 2020, and then shrank rapidly in the following year.

Exports by Country

Indonesia (X tons), New Zealand (X tons) and the United States (X tons) were the main destinations of non-metal permanent magnet exports from Australia, with a combined 89% share of total exports. These countries were followed by India, Thailand and the UK, which together accounted for a further 7.8%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +58.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-metal permanent magnet exported from Australia were Indonesia ($X), New Zealand ($X) and the United States ($X), together comprising 81% of total exports. These countries were followed by India, the UK and Thailand, which together accounted for a further 7%.

India, with a CAGR of +58.4%, saw the highest rates of growth with regard to the value of exports, among 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

The average non-metal permanent magnet export price stood at $X per ton in 2021, declining by -31.8% against the previous year. In general, the export price recorded a slight downturn. The pace of growth appeared the most rapid in 2020 when the average export price increased by 107%. As a result, the export price attained the peak level of $X per ton, and then declined markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Thailand ($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 Cote d'Ivoire (+56.1%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into Australia

After five years of decline, purchases abroad of non-metal permanent magnets increased by 18% to X tons in 2021. Overall, imports, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 25% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, non-metal permanent magnet imports surged to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest non-metal permanent magnet supplier to Australia, with a 81% share of total imports. Moreover, non-metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.0% per year) and Taiwan (Chinese) (-16.2% per year).

In value terms, China ($X) constituted the largest supplier of non-metal permanent magnets to Australia, comprising 80% of total imports. The second position in the ranking was taken by the United States ($X), with an 8.4% share of total imports. It was followed by Taiwan (Chinese), with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.0% per year) and Taiwan (Chinese) (-7.8% per year).

Import Prices by Country

The average non-metal permanent magnet import price stood at $X per ton in 2021, with an increase of 10% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-metal permanent magnet import price increased by +74.9% against 2015 indices. The growth pace was the most rapid in 2017 when the average import price increased by 18%. The import price peaked in 2021 and is expected to retain growth in years to come.

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 Hong Kong SAR ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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