Finland: Permanent Magnet Market 2024

Permanent Magnet Market Size in Finland

The Finnish permanent magnet market soared to $X in 2021, increasing by 36% against the previous year. In general, consumption posted resilient growth. Permanent magnet consumption peaked in 2021 and is expected to retain growth in years to come.

Permanent Magnet Production in Finland

In value terms, permanent magnet production soared to $X in 2021 estimated in export price. Overall, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 18% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Permanent Magnet Exports

Exports from Finland

In 2021, permanent magnet exports from Finland skyrocketed to X tons, surging by 17% against the previous year. Over the period under review, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 38%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, permanent magnet exports soared to $X in 2021. In general, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 29% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Poland (X tons), the United States (X tons) and the Netherlands (X tons) were the main destinations of permanent magnet exports from Finland, together comprising 69% of total exports. These countries were followed by Sweden, Estonia, China, India, Denmark, Germany and the UK, which together accounted for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +40.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the Netherlands ($X) and Sweden ($X) were the largest markets for permanent magnet exported from Finland worldwide, with a combined 76% share of total exports. These countries were followed by Poland, China, Estonia, India, Denmark, Germany and the UK, which together accounted for a further 12%.

Among the main countries of destination, India, with a CAGR of +40.1%, 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 1.9% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2016 an increase of 32% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the 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 Sweden ($X per ton), while the average price for exports to Poland ($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 Sweden (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Permanent Magnet Imports

Imports into Finland

In 2021, imports of permanent magnets into Finland skyrocketed to X tons, growing by 49% compared with the previous year's figure. In general, imports showed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, permanent magnet imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of permanent magnet to Finland, accounting for a 59% share of total imports. Moreover, permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), fourfold. The third position in this ranking was taken by the Netherlands (X tons), with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+134.4% per year) and the Netherlands (+10.2% per year).

In value terms, China ($X) constituted the largest supplier of permanent magnets to Finland, comprising 75% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.4% share of total imports. It was followed by Sweden, with a 4.2% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.7% per year) and Sweden (+7.1% per year).

Import Prices by Country

In 2021, the average permanent magnet import price amounted to $X per ton, shrinking by -11.3% against the previous year. Overall, the import price saw a pronounced decline. The most prominent rate of growth was recorded in 2017 an increase of 21%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 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 ($X per ton), while the price for the Czech Republic ($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 UK (+8.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :