Asia: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Asia

In 2021, the Asian non-metal permanent magnet market decreased by -0.3% to $X, falling for the third consecutive year after three years of growth. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Non-Metal Permanent Magnet Production in Asia

In value terms, non-metal permanent magnet production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 12% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Non-Metal Permanent Magnet Exports

Exports in Asia

In 2021, shipments abroad of non-metal permanent magnets was finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-metal permanent magnet exports surged to $X in 2021. In general, exports, however, recorded a slight decrease. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China represented the main exporting country with an export of about X tons, which finished at 73% of total exports. South Korea (X tons) ranks second in terms of the total exports with a 12% share, followed by Hong Kong SAR (5.9%). The following exporters - Japan (X tons) and the Philippines (X tons) - together made up 4.9% of total exports.

From 2012 to 2021, average annual rates of growth with regard to non-metal permanent magnet exports from China stood at +2.0%. At the same time, the Philippines (+11.5%) and South Korea (+5.0%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of +11.5% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-6.4%) illustrated a downward trend over the same period. While the share of South Korea (+3.1 p.p.) and China (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-6.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest non-metal permanent magnet supplier in Asia, comprising 47% of total exports. The second position in the ranking was held by the Philippines ($X), with an 11% share of total exports. It was followed by South Korea, with a 10% share.

In China, non-metal permanent magnet exports expanded at an average annual rate of +3.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (-7.1% per year) and South Korea (+3.3% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, growing by 4% against the previous year. Over the period under review, the export price, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2017 when the export price increased by 8.2% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.2%), while the other leaders experienced a decline in the export price figures.

Non-Metal Permanent Magnet Imports

Imports in Asia

In 2021, supplies from abroad of non-metal permanent magnets was finally on the rise to reach X tons after three years of decline. The total import volume increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-metal permanent magnet imports skyrocketed to $X in 2021. In general, imports, however, recorded a mild contraction. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

India (X tons), Vietnam (X tons), Hong Kong SAR (X tons), China (X tons), South Korea (X tons), Japan (X tons), Turkey (X tons), Malaysia (X tons), Thailand (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons) and Singapore (X tons) represented roughly 96% of total imports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of +18.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-metal permanent magnet importing markets in Asia were Thailand ($X), Hong Kong SAR ($X) and Vietnam ($X), together accounting for 37% of total imports. China, South Korea, Japan, India, Malaysia, Singapore, Taiwan (Chinese), Indonesia and Turkey lagged somewhat behind, together comprising a further 57%.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +12.9%, recorded the highest rates of growth with regard to 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

The import price in Asia stood at $X per ton in 2021, shrinking by -4.6% against the previous year. Over the period under review, the import price saw a noticeable slump. The pace of growth appeared the most rapid in 2017 when the import price increased by 6.8%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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