Magnets: permanent magnets and articles intended to become permanent magnets after magnetisation, other than of metal

In 2024, magnets: permanent magnets and articles intended to become permanent magnets after magnetisation, other than of metal trade exhibited strong growth, with global flows reaching $1,572,430,910 and a three-year compound annual growth rate of +0.1% (five-year: +2.0%). The all-time peak of $1,643,515,663 was recorded in 2022; the current level is 4% below that high-water mark.

Over the 30-year observation window (1995–2024), 62% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is steady (-1.1% acceleration).

The World Trade Flows Characterization classifies magnets: permanent magnets and articles intended to become permanent magnets after magnetisation, other than of metal as "One-way trade" in the low price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is concentrated (Herfindahl-Hirschman Index 0.280). The three largest exporters — China ($810.3M), Germany ($106.1M), and Japan ($84.2M) — collectively dominate supply flows. The leading exporter has grown at +2.6% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.045). The three largest import markets are Vietnam ($151.5M), Germany ($133.1M), and United States ($119.2M). The largest importing market sources from 30 different supplying countries.

Estimated substitution elasticity: -6.25. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is China → Vietnam at $131.8M, representing 87.0% of the importer's total demand.

The volatility score for magnets: permanent magnets and articles intended to become permanent magnets after magnetisation, other than of metal is 4 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, strong demand tailwinds create a favourable entry environment. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.