Finland: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Finland

The Finnish non-metal permanent magnet market dropped to $X in 2021, falling by -14.8% against the previous year. In general, consumption, however, recorded a measured expansion. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Non-Metal Permanent Magnet Production in Finland

In value terms, non-metal permanent magnet production amounted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. Over the period under review, production attained the peak level in 2021 and is likely to see gradual growth in the near future.

Non-Metal Permanent Magnet Exports

Exports from Finland

In 2021, shipments abroad of non-metal permanent magnets was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports showed a mild increase. The pace of growth appeared the most rapid in 2017 when exports increased by 236%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-metal permanent magnet exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 117%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Russia (X kg), Estonia (X kg) and Norway (X kg) were the main destinations of non-metal permanent magnet exports from Finland, together comprising 53% of total exports. These countries were followed by China, Sweden, France, the United States, Japan, the UK, Lithuania, Israel, Germany and the United Arab Emirates, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +70.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-metal permanent magnet exported from Finland were Russia ($X), China ($X) and Norway ($X), with a combined 43% share of total exports. These countries were followed by the United States, France, Estonia, Sweden, the UK, Japan, Israel, the United Arab Emirates, Germany and Lithuania, which together accounted for a further 33%.

France, with a CAGR of +76.1%, recorded the highest growth rate of 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, dropping by -7.8% against the previous year. In general, the export price recorded a perceptible shrinkage. The growth pace was the most rapid in 2019 when the average export price increased by 171%. As a result, the export price reached the peak level of $X per ton. From 2020 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 the United States ($X per ton), while the average price for exports to Lithuania ($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 United Arab Emirates (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into Finland

In 2021, after two years of growth, there was decline in overseas purchases of non-metal permanent magnets, when their volume decreased by -2.6% to X tons. In general, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +60.1% against 2018 indices. The most prominent rate of growth was recorded in 2020 with an increase of 63%. As a result, imports reached the peak of X tons, and then dropped modestly in the following year.

In value terms, non-metal permanent magnet imports shrank dramatically to $X in 2021. Overall, imports, however, recorded a noticeable expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 52% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), China (X tons) and Germany (X tons) were the main suppliers of non-metal permanent magnet imports to Finland, together accounting for 71% of total imports. Italy, Sweden, Taiwan (Chinese) and Turkey lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +47.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-metal permanent magnet suppliers to Finland were Germany ($X), China ($X) and the Netherlands ($X), together accounting for 69% of total imports. Sweden, Italy, Turkey and Taiwan (Chinese) lagged somewhat behind, together comprising a further 19%.

In terms of the main suppliers, Turkey, with a CAGR of +40.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-metal permanent magnet import price stood at $X per ton in 2021, waning by -17.9% against the previous year. Over the period under review, the import price showed a noticeable descent. The pace of growth was the most pronounced in 2013 an increase of 38% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Taiwan (Chinese) ($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 (+8.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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