ASEAN: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in ASEAN

In 2021, the ASEAN non-metal permanent magnet market increased by 11% to $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Non-Metal Permanent Magnet Production in ASEAN

In value terms, non-metal permanent magnet production fell slightly to $X in 2021 estimated in export price. In general, production enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 95% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Non-Metal Permanent Magnet Exports

Exports in ASEAN

For the third consecutive year, ASEAN recorded growth in overseas shipments of non-metal permanent magnets, which increased by 25% to X tons in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +114.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 57% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in the near future.

In value terms, non-metal permanent magnet exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a pronounced decline. The growth pace was the most rapid in 2017 with an increase of 110% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines represented the key exporting country with an export of about X tons, which amounted to 46% of total exports. Vietnam (X tons) ranks second in terms of the total exports with a 24% share, followed by Malaysia (22%). The following exporters - Thailand (X tons) and Singapore (X tons) - each reached a 7.7% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +24.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Malaysia ($X) and Vietnam ($X) constituted the countries with the highest levels of exports in 2021, with a combined 92% share of total exports.

Malaysia, with a CAGR of +20.8%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, with an increase of 6.4% against the previous year. In general, the export price, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 34%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+19.9%), while the other leaders experienced mixed trends in the export price figures.

Non-Metal Permanent Magnet Imports

Imports in ASEAN

Non-metal permanent magnet imports skyrocketed to X tons in 2021, jumping by 19% against the previous year's figure. Total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +88.9% against 2015 indices. The most prominent rate of growth was recorded in 2017 with an increase of 33%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, non-metal permanent magnet imports skyrocketed to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 35%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Vietnam was the main importing country with an import of about X tons, which resulted at 37% of total imports. Malaysia (X tons) held the second position in the ranking, followed by Thailand (X tons), Indonesia (X tons) and Singapore (X tons). All these countries together held near 58% share of total imports. The following importers - the Philippines (X tons) and Cambodia (X tons) - together made up 4.7% of total imports.

From 2012 to 2021, average annual rates of growth with regard to non-metal permanent magnet imports into Vietnam stood at +8.3%. At the same time, Cambodia (+35.3%), the Philippines (+13.5%), Singapore (+11.1%), Malaysia (+5.2%) and Thailand (+1.1%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +35.3% from 2012-2021. By contrast, Indonesia (-4.2%) illustrated a downward trend over the same period. While the share of Vietnam (+12 p.p.), Singapore (+3.7 p.p.), Malaysia (+2 p.p.) and the Philippines (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Thailand (-4.5 p.p.) and Indonesia (-16.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest non-metal permanent magnet importing markets in ASEAN were Thailand ($X), Vietnam ($X) and Malaysia ($X), with a combined 72% share of total imports. These countries were followed by Singapore, Indonesia, the Philippines and Cambodia, which together accounted for a further 28%.

In terms of the main importing countries, Cambodia, with a CAGR of +37.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the import price, however, continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2015 when the import price increased by 16% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform