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World - Permanent Magnets - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Mar 31, 2021

The Permanent Magnet Market to Expect Significant Growth Thanks to the Electric Vehicle Industry

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IndexBox has just published a new report: 'World - Permanent Magnets - Market Analysis, Forecast, Size, Trends, and Insights.' Here is a summary of the report's key findings.

With the development of the electric car and electronic technology industry, the demand for permanent magnets shows significant growth. Thanks to government subsidies, China continues to maintain low market prices for permanent magnets and dominate the export market.

Key Trends and Insights

The permanent magnet market predicts significant growth in the coming years due to the rapid development of consuming industries: electric vehicles, wind turbines, electronics, household appliances. The highest demand is for high-performance and lightweight neodymium iron boron (NdFeB) magnets.

The expansion of the permanent magnet industry will be driven mainly by China's consuming industries' growth. According to the China State Council's New Energy Vehicles (NEV) Industry Development Plan, NEV will account for 20% of the country's total vehicle sales by 2025, up from a market share of just 4.7% in 2019. This will lead to a significant increase in the need for permanent magnets. In one NEV, permanent magnets are used 2-3 times more by weight than in a car with an internal combustion engine.

The widespread adoption of telecommunication technologies drives electronics production, which also stimulates the market for permanent magnets. According to the National Bureau of Statistics of China, the production of tablet computers increased by 33% in January-September 2020.

Subsidies from the Chinese government to the industry help the country keep prices on permanent magnets down, making the imported products uncompetitive on the local market. 

The US government has also begun to actively subsidize the rare earth and permanent magnet industries to reduce dependence on Chinese imports.

China Is Set to Dominate the Permanent Magnets Exports 

In 2019, the global permanent magnet market increased by 2.6% to $7.6B, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +1.2% from 2012 to 2019.

In value terms, the largest permanent magnet markets worldwide were China ($1.5B), the U.S. ($866M), and Germany ($513M), with a combined 37% share of the global market. Indonesia, Canada, the Philippines, Japan, Mexico, South Korea, Viet Nam, Thailand, India, and Italy lagged, together comprising a further 34% (IndexBox estimates).

The countries with the highest levels of permanent magnet per capita consumption in 2019 were Germany (346 units per 1000 persons), Canada (275 units per 1000 persons), and Thailand (251 units per 1000 persons).

From 2012 to 2019, the most notable growth rate in terms of permanent magnet per capita consumption amongst the key consuming countries was attained by the Philippines, while permanent magnet per capita consumption for the other global leaders experienced more modest growth.

In value terms, China ($2.5B) remains the largest permanent magnet supplier worldwide, comprising 51% of global exports. The second position in the ranking was occupied by Japan ($541M), with an 11% share of global exports. It was followed by Germany, with a 6.9% share (IndexBox estimates).

From 2012 to 2019, the average annual growth rate in terms of value in China was relatively modest. The remaining exporting countries recorded the following average annual export growth rates: Japan (-7.4% per year) and Germany (-1.8% per year).

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was the U.S. ($20 per unit), while Indonesia ($3.3 per unit) was amongst the lowest.

Driven by increasing demand for permanent magnets worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.2% for the period from 2019 to 2030, projected to bring the market volume to 783M units by the end of 2030.

Source: IndexBox Platform

Product coverage:
• Prodcom 23441230 - Permanent magnets and articles intended to become permanent magnets (excluding of metal)
• Prodcom 25992995 - Permanent magnets and articles intended to become permanent magnets, of metal

This report provides an in-depth analysis of the global permanent magnet market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.



Data coverage:
• Global market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Global production, split by region and country
• Global trade (exports and imports)
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

United States
China
Japan
Germany
United Kingdom
France
Brazil
Italy
Russian Federation
India
Canada
Australia
Republic of Korea
Spain
Mexico
Indonesia
Netherlands
Turkey
Saudi Arabia
Switzerland
Sweden
Nigeria
Poland
Belgium
Argentina
Norway
Austria
Thailand
United Arab Emirates
Colombia
Denmark
South Africa
Malaysia
Israel
Singapore
Egypt
Philippines
Finland
Chile
Ireland
Pakistan
Greece
Portugal
Kazakhstan
Algeria
Czech Republic
Qatar
Peru
Romania
Vietnam
LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption, By Country, 2018–2020
Table 5:
Production, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Physical Terms, By Country, 2007–2020
Table 7:
Imports, In Value Terms, By Country, 2007–2020
Table 8:
Import Prices, By Country Of Destination, 2007–2020
Table 9:
Exports, In Physical Terms, By Country, 2007–2020
Table 10:
Exports, In Value Terms, By Country, 2007–2020
Table 11:
Export Prices, By Country Of Origin, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Consumption, By Country, 2020
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2007–2020
Figure 17:
Production, In Value Terms, 2007–2020
Figure 18:
Production, By Country, 2020
Figure 19:
Production, In Physical Terms, By Country, 2007–2020
Figure 20:
Imports, In Physical Terms, 2007–2020
Figure 21:
Imports, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, By Country, 2020
Figure 23:
Imports, In Physical Terms, By Country, 2007–2020
Figure 24:
Imports, In Value Terms, By Country, 2007–2020
Figure 25:
Import Prices, By Country, 2007–2020
Figure 26:
Exports, In Physical Terms, 2007–2020
Figure 27:
Exports, In Value Terms, 2007–2020
Figure 28:
Exports, In Physical Terms, By Country, 2020
Figure 29:
Exports, In Physical Terms, By Country, 2007–2020
Figure 30:
Exports, In Value Terms, By Country, 2007–2020
Figure 31:
Export Prices, 2007–2020

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