The import of permanent magnets (excluding metal) into India is forecasted to see a steady increase from 2024 to 2028, with volumes rising from 15.383 million kilograms in 2024 to 17.901 million kilograms in 2028. Compared to 2023, when the imports stood at 14.8 million kilograms, there's a notable upward trend, indicating a growing demand within the market. Year-on-year growth percentages highlight a gradual increase, suggesting a solid CAGR over these five years.
For future trends, keep an eye on:
- Technological advancements increasing the need for high-performance magnets.
- Government policies and their impact on local production versus imports.
- Price volatility and its effect on import volumes.
