Northern America: Permanent Magnet Market 2025

Permanent Magnet Market Size in Northern America

For the fourth year in a row, the North American permanent magnet market recorded growth in sales value, which increased by 21% to $X in 2021. The market value increased at an average annual rate of +3.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Permanent Magnet Production in Northern America

In value terms, permanent magnet production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 22%. The level of production peaked at $X in 2020, and then shrank slightly in the following year.

Permanent Magnet Exports

Exports in Northern America

In 2021, overseas shipments of permanent magnets were finally on the rise to reach X tons for the first time since 2014, thus ending a six-year declining trend. Over the period under review, exports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 18%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, permanent magnet exports expanded sharply to $X in 2021. In general, exports, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2014 when exports increased by 16%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States was the major exporting country with an export of about X tons, which accounted for 69% of total exports. It was distantly followed by Canada (X tons), committing a 31% share of total exports.

Exports from the United States decreased at an average annual rate of -17.2% from 2012 to 2021. At the same time, Canada (+3.2%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +3.2% from 2012-2021. While the share of Canada (+25 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United States (-24.9 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest permanent magnet supplier in Northern America, comprising 89% of total exports. The second position in the ranking was taken by Canada ($X), with an 11% share of total exports.

In the United States, permanent magnet exports plunged by an average annual rate of -2.9% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, rising by 12% against the previous year. In general, the export price continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 when the export price increased by 67% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+17.3%).

Permanent Magnet Imports

Imports in Northern America

In 2021, after two years of decline, there was significant growth in supplies from abroad of permanent magnets, when their volume increased by 75% to X tons. Total imports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, permanent magnet imports surged to $X in 2021. The total import value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States prevails in imports structure, resulting at X tons, which was near 93% of total imports in 2021. It was distantly followed by Canada (X tons), creating a 6.7% share of total imports.

The United States was also the fastest-growing in terms of the permanent magnets imports, with a CAGR of +5.1% from 2012 to 2021. Canada (-3.6%) illustrated a downward trend over the same period. The United States (+6.9 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -6.8% from 2012 to 2021, respectively.

In value terms, the United States ($X) constitutes the largest market for imported permanent magnets in Northern America, comprising 92% of total imports. The second position in the ranking was taken by Canada ($X), with an 8.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value in the United States stood at +1.3%.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, waning by -16.5% against the previous year. In general, the import price showed a perceptible descent. The pace of growth appeared the most rapid in 2018 when the import price increased by 8.7%. Over the period under review, import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.4%).

Source: IndexBox Platform

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