Russian Federation: Metal Permanent Magnet Market 2024

Metal Permanent Magnet Market Size in the Russian Federation

In 2022, the Russian metal permanent magnet market decreased by -14.9% to $X for the first time since 2015, thus ending a six-year rising trend. In general, consumption, however, recorded resilient growth. Over the period under review, the market attained the maximum level at $X in 2021, and then dropped in the following year.

Metal Permanent Magnet Exports

Exports from the Russian Federation

Metal permanent magnet exports from Russia contracted markedly to X tons in 2022, waning by -29.2% against the previous year's figure. Over the period under review, exports, however, saw a pronounced increase. The most prominent rate of growth was recorded in 2017 with an increase of 132% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, metal permanent magnet exports shrank to $X in 2022. In general, exports, however, showed a notable expansion. The growth pace was the most rapid in 2017 when exports increased by 147%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belarus (X tons) was the main destination for metal permanent magnet exports from Russia, accounting for a 68% share of total exports. Moreover, metal permanent magnet exports to Belarus exceeded the volume sent to the second major destination, Colombia (X tons), fourfold. The third position in this ranking was taken by Ukraine (X tons), with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belarus totaled +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+54.5% per year) and Ukraine (-11.2% per year).

In value terms, the largest markets for metal permanent magnet exported from Russia were Colombia ($X), Belarus ($X) and Kazakhstan ($X), together accounting for 95% of total exports.

Colombia, with a CAGR of +97.2%, recorded the highest rates of growth with regard to 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 2022, the average metal permanent magnet export price amounted to $X per ton, with an increase of 21% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 25%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Ukraine ($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 Colombia (+27.7%), while the prices for the other major destinations experienced a decline.

Metal Permanent Magnet Imports

Imports into the Russian Federation

In 2022, supplies from abroad of metal permanent magnets decreased by -1.5% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted slightly in the following year.

In value terms, metal permanent magnet imports shrank markedly to $X in 2022. In general, imports, however, enjoyed a strong increase. The growth pace was the most rapid in 2021 when imports increased by 79%. As a result, imports reached the peak of $X, and then contracted sharply in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest metal permanent magnet supplier to Russia, with a 84% share of total imports. Moreover, metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. Italy (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+84.1% per year) and Italy (+12.7% per year).

In value terms, China ($X) constituted the largest supplier of metal permanent magnets to Russia, comprising 79% of total imports. The second position in the ranking was held by Italy ($X), with a 7% share of total imports. It was followed by Romania, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+19.7% per year) and Romania (+88.2% per year).

Import Prices by Country

The average metal permanent magnet import price stood at $X per ton in 2022, dropping by -20.9% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 75%. As a result, import price attained the peak level of $X per ton, and then fell rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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