From 2023, where re-imports of metal permanent magnets to Canada were at 145 thousand US dollars, a gradual increase is observed with figures projected to reach 174.32 thousand by 2028. This forecast suggests a consistent year-on-year growth, reaching approximately 3.85% annually. The Compound Annual Growth Rate (CAGR) over the five-year period shows a stable rise, reflecting steady demand and market conditions.
Future trends to watch for:
- Technological advancements enhancing the efficiency and application of metal magnets.
- Potential impacts of global trade agreements or tariffs affecting import costs and demands.
- Shifts in industrial needs or innovations driving magnet usage across sectors.