Scandinavia: Non-Metal Permanent Magnet Market 2025

Non-Metal Permanent Magnet Market Size in Scandinavia

The Scandinavia non-metal permanent magnet market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption enjoyed a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Non-Metal Permanent Magnet Production in Scandinavia

In value terms, non-metal permanent magnet production expanded markedly to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -15.5% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of 42%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Non-Metal Permanent Magnet Exports

Exports in Scandinavia

In 2021, overseas shipments of non-metal permanent magnets increased by 56% to X tons, rising for the second year in a row after two years of decline. In general, exports continue to indicate a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-metal permanent magnet exports soared to $X in 2021. Total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 34%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Sweden dominates exports structure, amounting to X tons, which was approx. 89% of total exports in 2021. It was distantly followed by Denmark (X tons), making up a 9.7% share of total exports.

Sweden was also the fastest-growing in terms of the non-metal permanent magnets exports, with a CAGR of +11.4% from 2012 to 2021. At the same time, Denmark (+3.8%) displayed positive paces of growth. From 2012 to 2021, the share of Sweden increased by +7.1 percentage points.

In value terms, Sweden ($X) remains the largest non-metal permanent magnet supplier in Scandinavia, comprising 73% of total exports. The second position in the ranking was held by Denmark ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden amounted to +1.1%.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, declining by -18.7% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 an increase of 22% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while Sweden stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (-1.2%).

Non-Metal Permanent Magnet Imports

Imports in Scandinavia

In 2021, supplies from abroad of non-metal permanent magnets decreased by -6.6% to X tons, falling for the third year in a row after three years of growth. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -26.7% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 26% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, non-metal permanent magnet imports expanded markedly to $X in 2021. Total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -22.4% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of 38% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Sweden was the key importing country with an import of around X tons, which finished at 55% of total imports. Denmark (X tons) ranks second in terms of the total imports with a 20% share, followed by Finland (14%) and Norway (11%).

From 2012 to 2021, average annual rates of growth with regard to non-metal permanent magnet imports into Sweden stood at +6.8%. At the same time, Finland (+7.4%), Norway (+6.1%) and Denmark (+4.0%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +7.4% from 2012-2021. While the share of Sweden (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Denmark (-4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest non-metal permanent magnet importing markets in Scandinavia were Sweden ($X), Denmark ($X) and Norway ($X), together comprising 84% of total imports.

Sweden, with a CAGR of +4.7%, recorded the highest growth rate of the value of imports, in terms of 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

In 2021, the import price in Scandinavia amounted to $X per ton, rising by 13% against the previous year. Overall, the import price, however, showed a pronounced contraction. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (-1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform