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Japan - Permanent Magnets - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Feb 1, 2025

Japan - Permanent Magnets - Market Analysis, Forecast, Size, Trends and Insights

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Sep 17, 2024

Japan'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.Japan Permanent Magnet Imports By Country (Million USD)

COUNTRYImport Value of Permanent Magnet in Japan (million USD)
20132014201520162017201820192020202120222023
Philippines180195147149194212215186276395327
China146149140145163162161162203285244
Vietnam1.51.91.71.92.12.62.522.061.6142166
Malaysia27.231.826.922.421.629.332.329.342.441.750.2
Thailand4.94.74.97.711.512.316.88.819.832.723.3
Others20.420.217.516.919.619.316.719.319.419.717.6
Total380403338342412438445427622916829

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.

Source: IndexBox Market Intelligence Platform

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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