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Rare earth permanent magnetic material is a magnetic material with strong magnetic properties and comprehensive performance, which is produced by sintering, bonding and other different preparation methods of samarium, neodymium and other rare earth metals and cobalt, iron and other transition metals. Rare earth permanent magnet materials are mainly used in consumer electronics, automobiles, new energy, wind turbines, industrial motors and other fields. With the global technological progress and the development of new energy and other emerging fields, the demand for rare earth permanent magnetic materials is expanding. Rare earth permanent magnets are the main types of rare earth permanent magnetic materials and the main rare earth permanent magnetic products exported by China.
China is one of the world's major producers and exporters of rare earth permanent magnets, exporting large quantities of rare earth permanent magnets every year. According to CRI's analysis, in 2021, China exported 48,600 tons of rare earth permanent magnets, up 35.22% year-on-year, and the export value was US$2.789 billion, up 67.22% year-on-year. from January to November 2022, China exported 49,100 tons of rare earth permanent magnets, up 11.41% year-on-year, and the export value was US$3.806 billion, up 51.88% year-on-year.
In 2021, China exported rare earth permanent magnets to about one hundred and twenty countries and regions around the world. CRI analysis shows that the United States, Germany, South Korea, Vietnam, Italy, Thailand, Taiwan, Poland, Mexico and Japan are the main export destinations for rare earth permanent magnets from China by export volume.
In 2021, China exported 6,656.81 tons of rare earth permanent magnets to the U.S., accounting for 13.69% of the total export volume of rare earth permanent magnets that year, with an export value of US$328 million, accounting for 11.74% of the total export value. In 2021, China exported 6,497.34 tons of rare earth permanent magnets to Germany, accounting for 13.36% of the total export volume with an export value of US$397 million, or 14.24% of the total export value.
China is the world's largest producer and exporter of rare earth permanent magnet products. CRI expects the global market size of rare earth permanent magnets to grow from 2023-2032 with the development of global new energy vehicles, clean energy and other industries, and the export volume of rare earth permanent magnets from China is expected to continue to rise in the coming years.
Topics covered:
- China's Rare Earth Permanent Magnets Export Status and Major Sources in 2018-2022
- What is the Impact of COVID-19 on China's Rare Earth Permanent Magnets Export?
- Which Companies are the Major Players in China's Rare Earth Permanent Magnets Export Market and What are their Competitive Benchmarks?
- Key Drivers and Market Opportunities in China's Rare Earth Permanent Magnets Export
- What are the Key Drivers, Challenges, and Opportunities for China's Rare Earth Permanent Magnets Export during 2023-2032?
- What is the Expected Revenue of China's Rare Earth Permanent Magnets Export during 2023-2032?
- What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
- What are the Competitive Advantages of the Major Players in China's Rare Earth Permanent Magnets Export Market?
- Which Segment of China's Rare Earth Permanent Magnets Export is Expected to Dominate the Market in 2032?
- What are the Major Adverse Factors Facing China's Rare Earth Permanent Magnets Export?