Nepal: Metal Permanent Magnet Market 2024

Metal Permanent Magnet Market Size in Nepal

The Nepalese metal permanent magnet market expanded to $X in 2022, growing by 3.8% against the previous year. In general, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.5% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Metal Permanent Magnet Production in Nepal

In value terms, metal permanent magnet production amounted to $X in 2022 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 48%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Metal Permanent Magnet Exports

Exports from Nepal

Metal permanent magnet exports from Nepal shrank markedly to X kg in 2022, which is down by -40.7% compared with the previous year's figure. Over the period under review, exports saw a dramatic setback. The most prominent rate of growth was recorded in 2021 with an increase of 145% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, metal permanent magnet exports contracted sharply to $X in 2022. Overall, exports continue to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2021 with an increase of 264% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X kg) was the main destination for metal permanent magnet exports from Nepal, accounting for a 44% share of total exports. Moreover, metal permanent magnet exports to Japan exceeded the volume sent to the second major destination, Austria (X kg), twofold. Canada (X kg) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to -41.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (-5.0% per year) and Canada (-6.7% per year).

In value terms, Japan ($X) remains the key foreign market for metal permanent magnets exports from Nepal, comprising 56% of total exports. The second position in the ranking was taken by Switzerland ($X), with a 27% share of total exports. It was followed by Austria, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at -34.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (0.0% per year) and Austria (+6.2% per year).

Export Prices by Country

In 2022, the average metal permanent magnet export price amounted to $X per ton, picking up by 7.5% against the previous year. Overall, the export price continues to indicate a strong expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by 48% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+18.2%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Permanent Magnet Imports

Imports into Nepal

Metal permanent magnet imports into Nepal expanded modestly to X tons in 2022, growing by 4.6% compared with 2021. In general, imports recorded significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 388% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, metal permanent magnet imports shrank significantly to $X in 2022. Over the period under review, imports recorded a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 422%. Over the period under review, imports reached the maximum at $X in 2021, and then contracted sharply in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of metal permanent magnet to Nepal, accounting for a 78% share of total imports. Moreover, metal permanent magnet imports from India exceeded the figures recorded by the second-largest supplier, China (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to +23.9%.

In value terms, India ($X) constituted the largest supplier of metal permanent magnets to Nepal, comprising 76% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +27.8%.

Import Prices by Country

The average metal permanent magnet import price stood at $X per ton in 2022, which is down by -20.7% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average import price increased by 36%. The import price peaked at $X per ton in 2021, and then reduced sharply in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for India amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.1%).

Source: IndexBox Platform