Norway: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Norway

The Norwegian non-metal permanent magnet market fell to $X in 2021, shrinking by -12.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% 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 -22.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Non-Metal Permanent Magnet Exports

Exports from Norway

In 2021, overseas shipments of non-metal permanent magnets increased by 7.8% to X tons, rising for the fourth consecutive year after three years of decline. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 1,662%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, non-metal permanent magnet exports contracted markedly to $X in 2021. Over the period under review, exports posted a perceptible increase. The most prominent rate of growth was recorded in 2014 with an increase of 1,849% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for non-metal permanent magnet exports from Norway, accounting for a 74% share of total exports. Moreover, non-metal permanent magnet exports to Sweden exceeded the volume sent to the second major destination, Denmark (X kg), eightfold. Angola (X kg) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to Sweden amounted to +40.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+46.0% per year) and Angola (+45.7% per year).

In value terms, Sweden ($X), Angola ($X) and Denmark ($X) were the largest markets for non-metal permanent magnet exported from Norway worldwide, together comprising 53% of total exports.

Denmark, with a CAGR of +42.7%, 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

In 2021, the average non-metal permanent magnet export price amounted to $X per ton, declining by -69.2% against the previous year. Overall, the export price recorded a deep setback. The growth pace was the most rapid in 2019 an increase of 145% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Sweden ($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 Finland (+29.6%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into Norway

In 2021, non-metal permanent magnet imports into Norway shrank modestly to X tons, almost unchanged from 2020. In general, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 195%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, non-metal permanent magnet imports reduced dramatically to $X in 2021. Overall, imports, however, recorded tangible growth. The pace of growth appeared the most rapid in 2014 with an increase of 238% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Sweden (X tons) and Denmark (X tons) were the main suppliers of non-metal permanent magnet imports to Norway, with a combined 78% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +12.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Sweden ($X) and Denmark ($X) appeared to be the largest non-metal permanent magnet suppliers to Norway, with a combined 68% share of total imports.

Denmark, with a CAGR of +19.7%, recorded the highest rates of growth with regard to the value of imports, among 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 non-metal permanent magnet import price stood at $X per ton in 2021, with a decrease of -18.3% against the previous year. Overall, the import price saw a pronounced downturn. The pace of growth appeared the most rapid in 2017 an increase of 35% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the UK ($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 (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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