Belgium: Permanent Magnet Market 2025

Permanent Magnet Market Size in Belgium

The Belgian permanent magnet market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, recorded a slight shrinkage. Permanent magnet consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Permanent Magnet Production in Belgium

In value terms, permanent magnet production surged to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep downturn. The most prominent rate of growth was recorded in 2015 when the production volume increased by 167% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Permanent Magnet Exports

Exports from Belgium

In 2021, overseas shipments of permanent magnets decreased by -17.6% to X tons for the first time since 2015, thus ending a five-year rising trend. In general, exports continue to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2020 when exports increased by 87% against the previous year. As a result, the exports reached the peak of X tons, and then contracted remarkably in the following year.

In value terms, permanent magnet exports soared to $X in 2021. Over the period under review, exports, however, showed a notable expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 108%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

France (X tons), Germany (X tons) and Hungary (X tons) were the main destinations of permanent magnet exports from Belgium, together comprising 85% of total exports. These countries were followed by the Netherlands, Poland and Ukraine, which together accounted for a further 7.7%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +26.1%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for permanent magnets exports from Belgium, comprising 38% of total exports. The second position in the ranking was held by Hungary ($X), with a 17% share of total exports. It was followed by the Netherlands, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France stood at +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+1.3% per year) and the Netherlands (+24.1% per year).

Export Prices by Country

The average permanent magnet export price stood at $X per ton in 2021, rising by 45% against the previous year. In general, the export price saw a prominent expansion. The growth pace was the most rapid in 2015 when the average export price increased by 104% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Germany ($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 Ukraine (+23.1%), while the prices for the other major destinations experienced more modest paces of growth.

Permanent Magnet Imports

Imports into Belgium

Permanent magnet imports into Belgium expanded to X tons in 2021, growing by 2.1% on the previous year. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 40%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, permanent magnet imports soared to $X in 2021. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 42% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest permanent magnet supplier to Belgium, accounting for a 81% share of total imports. Moreover, permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2021, 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: France (+11.6% per year) and the Netherlands (+1.1% per year).

In value terms, China ($X) constituted the largest supplier of permanent magnets to Belgium, comprising 63% of total imports. The second position in the ranking was taken by Germany ($X), with a 9.3% share of total imports. It was followed by the Netherlands, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.1% per year) and the Netherlands (+0.9% per year).

Import Prices by Country

In 2021, the average permanent magnet import price amounted to $X per ton, jumping by 19% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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 UK ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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