Sweden: Metal Permanent Magnet Market 2024

Metal Permanent Magnet Market Size in Sweden

The Swedish metal permanent magnet market fell slightly to $X in 2022, flattening at the previous year. In general, consumption, however, recorded a strong increase. Metal permanent magnet consumption peaked at $X in 2021, and then declined modestly in the following year.

Metal Permanent Magnet Production in Sweden

In value terms, metal permanent magnet production dropped to $X in 2022 estimated in export price. Overall, production, however, saw a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 260% against the previous year. Metal permanent magnet production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Metal Permanent Magnet Exports

Exports from Sweden

In 2022, overseas shipments of metal permanent magnets increased by 2.2% to X tons, rising for the third year in a row after two years of decline. Overall, total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +19.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 45%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, metal permanent magnet exports reached $X in 2022. In general, exports saw a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 82% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The Netherlands (X tons), Norway (X tons) and Finland (X tons) were the main destinations of metal permanent magnet exports from Sweden, with a combined 52% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +62.7%), while the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), Finland ($X) and the Netherlands ($X) constituted the largest markets for metal permanent magnet exported from Sweden worldwide, with a combined 47% share of total exports.

The Netherlands, with a CAGR of +61.6%, saw the highest growth rate of the value of exports, in terms of 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, rising by 2.1% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal permanent magnet export price increased by +26.5% against 2017 indices. The growth pace was the most rapid in 2017 when the average export price increased by 26%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Denmark ($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 the United States (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Permanent Magnet Imports

Imports into Sweden

In 2022, overseas purchases of metal permanent magnets increased by 9% to X tons, rising for the second consecutive year after five years of decline. Over the period under review, imports, however, showed a slight decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 33%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, metal permanent magnet imports surged to $X in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +121.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 54% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal permanent magnet to Sweden, accounting for a 72% share of total imports. Moreover, metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), eightfold. The third position in this ranking was taken by Italy (X tons), with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.8% per year) and Italy (+127.6% per year).

In value terms, China ($X) constituted the largest supplier of metal permanent magnets to Sweden, comprising 66% of total imports. The second position in the ranking was taken by Germany ($X), with a 9.2% share of total imports. It was followed by the Netherlands, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.5% per year) and the Netherlands (+2.2% per year).

Import Prices by Country

In 2022, the average metal permanent magnet import price amounted to $X per ton, increasing by 32% against the previous year. Overall, the import price enjoyed resilient growth. The pace of growth appeared the most rapid in 2018 an increase of 50% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+29.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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