United Kingdom: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in the UK

The UK non-metal permanent magnet market skyrocketed to $X in 2021, picking up by 45% against the previous year. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Non-Metal Permanent Magnet Production in the UK

In value terms, non-metal permanent magnet production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 17% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Non-Metal Permanent Magnet Exports

Exports from the UK

In 2021, shipments abroad of non-metal permanent magnets decreased by -36.5% to X tons, falling for the second consecutive year after three years of growth. Overall, exports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2019 with an increase of 33%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, non-metal permanent magnet exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons), Germany (X tons) and Singapore (X tons) were the main destinations of non-metal permanent magnet exports from the UK, with a combined 43% share of total exports. Sweden, the Philippines, Ireland, Malaysia, Denmark, Poland, Spain, the Netherlands, the United States and Hungary lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +127.4%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the key foreign market for non-metal permanent magnets exports from the UK, comprising 38% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 19% share of total exports. It was followed by Malaysia, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore amounted to +60.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+112.1% per year) and Malaysia (+91.1% per year).

Export Prices by Country

The average non-metal permanent magnet export price stood at $X per ton in 2021, picking up by 112% against the previous year. Overall, the export price showed buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Sweden ($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 Hungary (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into the UK

In 2021, imports of non-metal permanent magnets into the UK rose rapidly to X tons, growing by 13% against 2020. In general, total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +2.2% 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 -26.9% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 28% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, non-metal permanent magnet imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of non-metal permanent magnet to the UK, accounting for a 77% share of total imports. Moreover, non-metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), ninefold. The Netherlands (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+3.7% per year) and the Netherlands (+20.1% per year).

In value terms, China ($X) constituted the largest supplier of non-metal permanent magnets to the UK, comprising 62% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 16% share of total imports. It was followed by Hong Kong SAR, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+13.0% per year) and Hong Kong SAR (+3.0% per year).

Import Prices by Country

In 2021, the average non-metal permanent magnet import price amounted to $X per ton, growing by 19% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 20%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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 the Netherlands ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+6.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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