U.S.: Metal Permanent Magnet Market 2025

Metal Permanent Magnet Market Size in the U.S.

In 2022, the U.S. metal permanent magnet market increased by 12% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +51.3% against 2020 indices. Metal permanent magnet consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Metal Permanent Magnet Production in the U.S.

In value terms, metal permanent magnet production contracted to $X in 2022. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 46% against the previous year. Metal permanent magnet production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Metal Permanent Magnet Exports

Exports from the U.S.

For the eighth consecutive year, the United States recorded decline in shipments abroad of metal permanent magnets, which decreased by -9.8% to X tons in 2022. Overall, exports showed a dramatic decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 26%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal permanent magnet exports expanded rapidly to $X in 2022. Over the period under review, exports continue to indicate a noticeable reduction. The growth pace was the most rapid in 2021 when exports increased by 16% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X tons), Germany (X tons) and Singapore (X tons) were the main destinations of metal permanent magnet exports from the United States, together accounting for 50% of total exports. Canada, China, Taiwan (Chinese), Malaysia, Switzerland, Thailand, Costa Rica, Brazil, the Dominican Republic and India lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of -0.5%), while the other leaders experienced a decline.

In value terms, Mexico ($X) remains the key foreign market for metal permanent magnets exports from the United States, comprising 49% of total exports. The second position in the ranking was held by Canada ($X), with an 18% share of total exports. It was followed by Germany, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value to Mexico stood at -2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+2.2% per year) and Germany (+5.3% per year).

Export Prices by Country

The average metal permanent magnet export price stood at $X per ton in 2022, growing by 19% against the previous year. Overall, the export price recorded significant growth. The growth pace was the most rapid in 2020 when the average export price increased by 149%. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Thailand ($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 Mexico (+31.5%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Permanent Magnet Imports

Imports into the U.S.

In 2022, purchases abroad of metal permanent magnets increased by 22% to X tons, rising for the seventh year in a row after three years of decline. Over the period under review, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 144% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, metal permanent magnet imports skyrocketed to $X in 2022. In general, imports continue to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 54%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal permanent magnet to the United States, accounting for a 87% share of total imports. Moreover, metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. The third position in this ranking was held by South Korea (X tons), with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.6% per year) and South Korea (+18.6% per year).

In value terms, China ($X) constituted the largest supplier of metal permanent magnets to the United States, comprising 79% of total imports. The second position in the ranking was taken by Japan ($X), with a 5.5% share of total imports. It was followed by Germany, with a 2.8% 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: Japan (-6.3% per year) and Germany (-7.4% per year).

Import Prices by Country

The average metal permanent magnet import price stood at $X per ton in 2022, rising by 6.8% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2015 an increase of 19%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for South Korea ($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 Philippines (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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