Puerto Rico: Non-Metal Permanent Magnet Market 2025

Non-Metal Permanent Magnet Market Size in Puerto Rico

After two years of decline, the Puerto Rican non-metal permanent magnet market increased by 23% to $X in 2021. Overall, the total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% 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 -38.1% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Non-Metal Permanent Magnet Production in Puerto Rico

In value terms, non-metal permanent magnet production skyrocketed to $X in 2021 estimated in export price. In general, production enjoyed a temperate increase. The pace of growth appeared the most rapid in 2014 with an increase of 85%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Non-Metal Permanent Magnet Exports

Exports from Puerto Rico

In 2021, approx. less than X kg of non-metal permanent magnets were exported from Puerto Rico; remaining stable against the year before. Overall, exports recorded a relatively flat trend pattern.

In value terms, non-metal permanent magnet exports totaled less than $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern.

Exports by Country

China was the main exporting country with an export of about X tons, which resulted at 62% of total exports. South Korea (X tons) ranks second in terms of the total exports with a 10% share, followed by Hong Kong SAR (5%). Germany (X tons), Italy (X tons), Japan (X tons), the Netherlands (X tons) and the Philippines (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to non-metal permanent magnet exports from China stood at +2.0%. At the same time, the Philippines (+11.5%), the Netherlands (+5.7%), South Korea (+5.0%) and Italy (+4.7%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in the world, with a CAGR of +11.5% from 2012-2021. Germany and Japan experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-6.4%) illustrated a downward trend over the same period. South Korea (+2.6 p.p.) and China (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while Hong Kong SAR saw its share reduced by -5.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest non-metal permanent magnet supplier from Puerto Rico, comprising 33% of global exports. The second position in the ranking was taken by Germany ($X), with an 8.4% share of global exports. It was followed by the Philippines, with a 7.5% share.

In China, non-metal permanent magnet exports expanded at an average annual rate of +3.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+0.3% per year) and the Philippines (-7.1% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, leveling off at the previous year. Overall, the export price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Non-Metal Permanent Magnet Imports

Imports into Puerto Rico

In 2021, the amount of non-metal permanent magnets imported into Puerto Rico amounted to less than X kg, remaining stable against the previous year's figure. Over the period under review, imports continue to indicate a relatively flat trend pattern.

In value terms, non-metal permanent magnet imports totaled less than $X in 2021. In general, imports continue to indicate a relatively flat trend pattern.

Imports by Country

The countries with the highest levels of non-metal permanent magnet imports in 2021 were Germany (X tons), India (X tons), Vietnam (X tons), Italy (X tons), Hong Kong SAR (X tons), China (X tons), the United States (X tons), Mexico (X tons), the Netherlands (X tons), South Korea (X tons), Japan (X tons) and Turkey (X tons), together finishing at 58% of total import. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +18.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-metal permanent magnet importing markets into Puerto Rico were Germany ($X), Hong Kong SAR ($X) and Vietnam ($X), with a combined 20% share of total imports. Italy, China, Mexico, the United States, South Korea, Japan, India, Malaysia, the Netherlands and Turkey lagged somewhat behind, together accounting for a further 38%.

Malaysia, with a CAGR of +9.9%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, leveling off at the previous year. Overall, the import price continues to indicate a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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