Nepal: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Nepal

The Nepalese non-metal permanent magnet market expanded to $X in 2023, picking up by X% against the previous year. Overall, the total consumption indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Non-metal permanent magnet consumption peaked at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Non-Metal Permanent Magnet Production in Nepal

In value terms, non-metal permanent magnet production amounted to $X in 2023 estimated in export price. Over the period under review, the total production indicated a noticeable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Non-Metal Permanent Magnet Exports

Exports from Nepal

In 2023, after seven years of growth, there was significant decline in overseas shipments of non-metal permanent magnets, when their volume decreased by X% to X kg. Over the period under review, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X kg in 2022, and then fell in the following year.

In value terms, non-metal permanent magnet exports dropped to $X in 2023. Overall, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2022, and then fell in the following year.

Exports by Country

Canada (X kg) was the main destination for non-metal permanent magnet exports from Nepal, with a X% share of total exports. Moreover, non-metal permanent magnet exports to Canada exceeded the volume sent to the second major destination, the Netherlands (X kg), more than tenfold.

From 2012 to 2023, the average annual rate of growth in terms of volume to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Belgium (X% per year).

In value terms, Canada ($X) emerged as the key foreign market for non-metal permanent magnets exports from Nepal, comprising X% of total exports. The second position in the ranking was taken by Belgium ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average non-metal permanent magnet export price stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, non-metal permanent magnet export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.

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

Non-Metal Permanent Magnet Imports

Imports into Nepal

In 2023, overseas purchases of non-metal permanent magnets decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Over the period under review, imports recorded a abrupt contraction. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, non-metal permanent magnet imports dropped rapidly to $X in 2023. In general, imports continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, China (X tons) was the main non-metal permanent magnet supplier to Nepal, with a approx. X% share of total imports.

From 2012 to 2023, the average annual growth rate of volume from China stood at X%.

In value terms, China ($X) constituted the largest supplier of non-metal permanent magnets to Nepal.

From 2012 to 2023, the average annual growth rate of value from China amounted to X%.

Import Prices by Country

In 2023, the average non-metal permanent magnet import price amounted to $X per ton, waning by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2023, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2023, the rate of growth in terms of prices for China amounted to X% per year.

Source: IndexBox Platform