India: Metal Permanent Magnet Market 2024

Metal Permanent Magnet Market Size in India

The Indian metal permanent magnet market reached $X in 2023, remaining stable against the previous year. Over the period under review, consumption, however, saw a mild increase. Over the period under review, the market attained the maximum level in 2023 and is likely to see gradual growth in years to come.

Metal Permanent Magnet Production in India

In value terms, metal permanent magnet production fell rapidly to $X in 2023 estimated in export price. Overall, production continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Metal permanent magnet production peaked at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

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Metal Permanent Magnet Exports

Exports from India

Metal permanent magnet exports from India reduced rapidly to X tons in 2023, waning by X% compared with the previous year's figure. In general, exports showed a mild curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, metal permanent magnet exports fell dramatically to $X in 2023. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

The Czech Republic (X tons) was the main destination for metal permanent magnet exports from India, accounting for a X% share of total exports. Moreover, metal permanent magnet exports to the Czech Republic exceeded the volume sent to the second major destination, China (X tons), fourfold. Germany (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual growth rate of volume to the Czech Republic stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Germany (X% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for metal permanent magnets exports from India, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by China, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the Czech Republic amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and China (X% per year).

Export Prices by Country

The average metal permanent magnet export price stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Permanent Magnet Imports

Imports into India

In 2023, supplies from abroad of metal permanent magnets increased by X% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports saw strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2023 and are likely to continue growth in years to come.

In value terms, metal permanent magnet imports surged to $X in 2023. Overall, imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked in 2023 and are expected to retain growth in the immediate term.

Imports by Country

In 2023, China (X tons) constituted the largest metal permanent magnet supplier to India, with a X% share of total imports. Moreover, metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), tenfold. Indonesia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Indonesia (X% per year).

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

From 2012 to 2023, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Germany (X% per year).

Import Prices by Country

In 2023, the average metal permanent magnet import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price, however, saw a perceptible descent. The pace of growth was the most pronounced in 2020 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform