Scandinavia: Permanent Magnet Market 2024

Permanent Magnet Market Size in Scandinavia

The Scandinavia permanent magnet market surged to $X in 2021, with an increase of 688% against the previous year. Overall, consumption posted significant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Permanent Magnet Production in Scandinavia

In value terms, permanent magnet production rose to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced downturn. The growth pace was the most rapid in 2017 with an increase of 14% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Permanent Magnet Exports

Exports in Scandinavia

In 2021, after two years of growth, there was significant decline in shipments abroad of permanent magnets, when their volume decreased by -6% to X tons. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +59.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 27% against the previous year. The volume of export peaked at X tons in 2020, and then reduced in the following year.

In value terms, permanent magnet exports fell to $X in 2021. In general, exports showed a perceptible decline. The growth pace was the most rapid in 2020 when exports increased by 27%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden represented the key exporting country with an export of around X tons, which amounted to 61% of total exports. It was distantly followed by Denmark (X tons) and Finland (X tons), together committing a 38% share of total exports.

Exports from Sweden increased at an average annual rate of +8.9% from 2012 to 2021. At the same time, Denmark (+13.2%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +13.2% from 2012-2021. By contrast, Finland (-7.4%) illustrated a downward trend over the same period. While the share of Sweden (+17 p.p.) and Denmark (+12 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Finland (-28.9 p.p.) displayed negative dynamics.

In value terms, Sweden ($X), Finland ($X) and Denmark ($X) constituted the countries with the highest levels of exports in 2021, together comprising 97% of total exports.

Among the main exporting countries, Denmark, with a CAGR of +7.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, which is down by -6.8% against the previous year. Overall, the export price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2018 when the export price increased by 18%. The level of export 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 origin: amid the top suppliers, the country with the highest price was Finland ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (-2.3%), while the other leaders experienced a decline in the export price figures.

Permanent Magnet Imports

Imports in Scandinavia

Permanent magnet imports declined to X tons in 2021, which is down by -13.3% against 2020 figures. Total imports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -30.5% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 32% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, permanent magnet imports declined markedly to $X in 2021. Overall, imports showed a mild decrease. The pace of growth appeared the most rapid in 2019 when imports increased by 46% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Sweden (X tons), Denmark (X tons) and Finland (X tons) was the major importer of permanent magnets in Scandinavia, creating 93% of total import. It was distantly followed by Norway (X tons), mixing up a 6.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +15.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest permanent magnet importing markets in Scandinavia were Denmark ($X), Sweden ($X) and Finland ($X), together accounting for 91% of total imports.

Finland, with a CAGR of +12.4%, 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

In 2021, the import price in Scandinavia amounted to $X per ton, shrinking by -5.7% against the previous year. In general, the import price saw a pronounced reduction. The pace of growth appeared the most rapid in 2019 when the import price increased by 14%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 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 (+2.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform