U.S.: Non-Metal Permanent Magnet Market 2025

Non-Metal Permanent Magnet Market Size in the U.S.

In 2021, the U.S. non-metal permanent magnet market decreased by -1% to $X for the first time since 2013, thus ending a seven-year rising trend. Over the period under review, consumption enjoyed a strong increase. Over the period under review, the market reached the peak level at $X in 2020, and then contracted modestly in the following year.

Non-Metal Permanent Magnet Production in the U.S.

In value terms, non-metal permanent magnet production shrank slightly to $X in 2021. In general, production saw a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of 59%. Non-metal permanent magnet production peaked at $X in 2020, and then dropped modestly in the following year.

Non-Metal Permanent Magnet Exports

Exports from the U.S.

In 2021, after five years of decline, there was significant growth in shipments abroad of non-metal permanent magnets, when their volume increased by 19% to X tons. In general, exports, however, faced a abrupt descent. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, non-metal permanent magnet exports rose notably to $X in 2021. Over the period under review, exports, however, recorded a noticeable descent. The growth pace was the most rapid in 2015 with an increase of 25%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for non-metal permanent magnet exports from the United States, with a 67% share of total exports. Moreover, non-metal permanent magnet exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), fivefold. The third position in this ranking was held by Japan (X tons), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico totaled -9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-21.8% per year) and Japan (+5.9% per year).

In value terms, Mexico ($X), Canada ($X) and Germany ($X) constituted the largest markets for non-metal permanent magnet exported from the United States worldwide, together comprising 75% of total exports. The UK, Japan, Vietnam and Brazil lagged somewhat behind, together accounting for a further 9.4%.

Vietnam, with a CAGR of +68.6%, recorded 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 2021, the average non-metal permanent magnet export price amounted to $X per ton, falling by -5.5% against the previous year. Overall, the export price, however, enjoyed resilient growth. The growth pace was the most rapid in 2019 when the average export price increased by 48% against the previous year. The export price peaked at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+36.8%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into the U.S.

In 2021, purchases abroad of non-metal permanent magnets was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 25%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, non-metal permanent magnet imports surged to $X in 2021. Overall, imports, however, recorded a perceptible reduction. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest non-metal permanent magnet supplier to the United States, with a 63% share of total imports. Moreover, non-metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. Japan (X tons) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+21.4% per year) and Japan (-6.1% per year).

In value terms, China ($X) constituted the largest supplier of non-metal permanent magnets to the United States, comprising 60% of total imports. The second position in the ranking was held by Vietnam ($X), with a 7.5% share of total imports. It was followed by Japan, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+3.8% per year) and Japan (-10.2% per year).

Import Prices by Country

The average non-metal permanent magnet import price stood at $X per ton in 2021, growing by 3.9% against the previous year. Overall, the import price, however, recorded a noticeable shrinkage. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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