
Japan - Permanent Magnets - Market Analysis, Forecast, Size, Trends and Insights
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View PricingJapan's Import of Permanent Magnet Drops Significantly to $829M in 2023
Japan Permanent Magnet Imports
In 2023, after two years of growth, there was decline in purchases abroad of permanent magnets, when their volume decreased by -1.3% to 19K tons. The total import volume increased at an average annual rate of +3.4% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Over the period under review, imports attained the maximum at 19K tons in 2022, and then contracted modestly in the following year.
In value terms, permanent magnet imports dropped to $829M (IndexBox estimates) in 2023. Over the period under review, imports, however, recorded strong growth. The pace of growth was the most pronounced in 2022 when imports increased by 47%. As a result, imports attained the peak of $916M, and then dropped in the following year.
COUNTRY | Import Value of Permanent Magnet in Japan (million USD) | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
Philippines | 180 | 195 | 147 | 149 | 194 | 212 | 215 | 186 | 276 | 395 | 327 |
China | 146 | 149 | 140 | 145 | 163 | 162 | 161 | 162 | 203 | 285 | 244 |
Vietnam | 1.5 | 1.9 | 1.7 | 1.9 | 2.1 | 2.6 | 2.5 | 22.0 | 61.6 | 142 | 166 |
Malaysia | 27.2 | 31.8 | 26.9 | 22.4 | 21.6 | 29.3 | 32.3 | 29.3 | 42.4 | 41.7 | 50.2 |
Thailand | 4.9 | 4.7 | 4.9 | 7.7 | 11.5 | 12.3 | 16.8 | 8.8 | 19.8 | 32.7 | 23.3 |
Others | 20.4 | 20.2 | 17.5 | 16.9 | 19.6 | 19.3 | 16.7 | 19.3 | 19.4 | 19.7 | 17.6 |
Total | 380 | 403 | 338 | 342 | 412 | 438 | 445 | 427 | 622 | 916 | 829 |
Imports by Country
In 2023, China (11K tons) constituted the largest supplier of permanent magnet to Japan, with a 56% share of total imports. Moreover, permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, the Philippines (3.5K tons), threefold. The third position in this ranking was taken by Vietnam (2.4K tons), with a 13% share.
From 2013 to 2023, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+11.1% per year) and Vietnam (+41.1% per year).
In value terms, the Philippines ($327M), China ($244M) and Vietnam ($166M) were the largest permanent magnet suppliers to Japan, together accounting for 89% of total imports.
Vietnam, with a CAGR of +60.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Imports by Type
Metal permanent magnets (10K tons) and non-metal permanent magnets (8.8K tons) were the main products of permanent magnet imports to Japan.
From 2013 to 2023, the biggest increases were recorded for metal permanent magnets (with a CAGR of +6.6%).
In value terms, metal permanent magnets ($767M) constituted the largest type of permanent magnets supplied to Japan, comprising 93% of total imports. The second position in the ranking was held by non-metal permanent magnets ($61M), with a 7.4% share of total imports.
Import Prices by Country
In 2023, the permanent magnet price stood at $43,593 per ton (CIF, Japan), declining by -8.3% against the previous year. In general, import price indicated a perceptible increase from 2013 to 2023: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, permanent magnet import price increased by +78.4% against 2016 indices. The growth pace was the most rapid in 2022 when the average import price increased by 36% against the previous year. As a result, import price attained the peak level of $47,561 per ton, and then shrank in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($106,833 per ton), while the price for South Korea ($5,578 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the permanent magnet market in Japan. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 23441230 - Permanent magnets and articles intended to become permanent magnets (excluding of metal)
- Prodcom 25992995 - Permanent magnets and articles intended to become permanent magnets, of metal
Country coverage:
- Japan
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Japan
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Products: Market Size and Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports and Growth, By Type
- Products: Export Prices and Growth, By Type
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024