Nepal: Metal Permanent Magnet Market 2024

Metal Permanent Magnet Market Size in Nepal

The Nepalese metal permanent magnet market reduced to $X in 2023, with a decrease of X% against the previous year. In general, consumption, however, enjoyed tangible growth. Metal permanent magnet consumption peaked at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Metal Permanent Magnet Production in Nepal

In value terms, metal permanent magnet production shrank to $X in 2023 estimated in export price. Overall, production, however, continues to indicate measured growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Metal permanent magnet production peaked at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

Metal Permanent Magnet Exports

Exports from Nepal

After two years of growth, overseas shipments of metal permanent magnets decreased by X% to X kg in 2023. In general, exports saw a dramatic contraction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The exports peaked at X kg in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, metal permanent magnet exports dropped remarkably to $X in 2023. Overall, exports saw a dramatic curtailment. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X kg) was the main destination for metal permanent magnet exports from Nepal, with a X% share of total exports. Moreover, metal permanent magnet exports to Japan exceeded the volume sent to the second major destination, China (X kg), fivefold. Austria (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Austria (X% per year).

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

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

Export Prices by Country

In 2023, the average metal permanent magnet export price amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price, however, posted a modest expansion. The pace of growth appeared the most rapid in 2015 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2022, and then fell in the following year.

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 Netherlands ($X per ton), while the average price for exports to China ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Permanent Magnet Imports

Imports into Nepal

After two years of growth, overseas purchases of metal permanent magnets decreased by X% to X tons in 2023. Over the period under review, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked at X tons in 2022, and then shrank in the following year.

In value terms, metal permanent magnet imports skyrocketed to $X in 2023. In general, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, India (X tons) constituted the largest metal permanent magnet supplier to Nepal, with a X% share of total imports. Moreover, metal permanent magnet imports from India exceeded the figures recorded by the second-largest supplier, China (X kg), ninefold.

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

In value terms, India ($X) constituted the largest supplier of metal permanent magnets to Nepal, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports.

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

Import Prices by Country

The average metal permanent magnet import price stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the import price enjoyed a perceptible expansion. The pace of growth was the most pronounced in 2013 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform