Canada: Permanent Magnet Market 2025

Permanent Magnet Market Size in Canada

The Canadian permanent magnet market fell slightly to $X in 2021, remaining stable against the previous year. In general, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.7% against 2019 indices. Permanent magnet consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Permanent Magnet Production in Canada

In value terms, permanent magnet production fell to $X in 2021 estimated in export price. In general, production, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by 61%. Permanent magnet production peaked at $X in 2020, and then contracted in the following year.

Permanent Magnet Exports

Exports from Canada

In 2021, exports of permanent magnets from Canada expanded slightly to X tons, with an increase of 3.9% on the year before. Overall, total exports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -17.4% against 2019 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 48%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, permanent magnet exports totaled $X in 2021. In general, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -18.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 47% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons), the United States (X tons) and South Africa (X tons) were the main destinations of permanent magnet exports from Canada, with a combined 88% share of total exports. Indonesia, Chile and China lagged somewhat behind, together comprising a further 5.5%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +183.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for permanent magnet exported from Canada were the United States ($X), Australia ($X) and China ($X), with a combined 86% share of total exports. South Africa, Indonesia and Chile lagged somewhat behind, together comprising a further 5%.

In terms of the main countries of destination, Indonesia, with a CAGR of +217.0%, recorded the highest growth rate of 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, growing by 6.7% against the previous year. Overall, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, permanent magnet export price decreased by -8.7% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of 15%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to South Africa ($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 Indonesia (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Permanent Magnet Imports

Imports into Canada

In 2021, overseas purchases of permanent magnets decreased by -5.1% to X tons, falling for the second consecutive year after three years of growth. In general, imports continue to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2017 with an increase of 8.1%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, permanent magnet imports skyrocketed to $X in 2021. Overall, imports showed a slight descent. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), the United States (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of permanent magnet imports to Canada, together comprising 88% of total imports. These countries were followed by Italy, Vietnam, South Korea and Germany, which together accounted for a further 7%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +16.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Italy ($X) appeared to be the largest permanent magnet suppliers to Canada, together comprising 88% of total imports.

Italy, with a CAGR of +9.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average permanent magnet import price stood at $X per ton in 2021, jumping by 34% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. 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 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for South Korea ($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 (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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