The UK’s import of metal permanent magnets and related articles is forecasted to show a robust growth trajectory, with expected volumes increasing from 15.321 million kg in 2024 to 17.597 million kg in 2028. Compared to an estimated volume of 14.8 million kg in 2023, the forecast indicates an upward trend in import demand.
- The year-on-year growth from 2024 to 2025 is projected at approximately 3.83%.
- From 2025 to 2026, the import volume is anticipated to increase by around 3.62%.
- The annual growth from 2026 to 2027 is estimated at 3.42%.
- A further increase of 3.24% is expected from 2027 to 2028.
- The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 3.52%.
Future trends to watch include the impact of technological advancements in industries like renewable energy, automotive, and electronics which heavily rely on magnets, as well as the geopolitical factors influencing raw material availability and tariffs.
