Asia-Pacific: Non-Metal Permanent Magnet Market 2025

Non-Metal Permanent Magnet Market Size in Asia-Pacific

In 2021, the Asia-Pacific non-metal permanent magnet market decreased by -0.6% to $X, falling for the third year in a row after three years of growth. Over the period under review, consumption saw a slight curtailment. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Non-Metal Permanent Magnet Production in Asia-Pacific

In value terms, non-metal permanent magnet production expanded rapidly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 13% 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 Asia-Pacific

In 2021, overseas shipments of non-metal permanent magnets were finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor 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, continue to indicate a pronounced setback. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China represented the major exporting country with an export of about X tons, which recorded 74% of total exports. South Korea (X tons) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by Hong Kong SAR (5.9%). Japan (X tons) and the Philippines (X tons) took a little share of total exports.

Exports from China increased at an average annual rate of +2.0% from 2012 to 2021. 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-Pacific, 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. From 2012 to 2021, the share of China and South Korea increased by +3.3 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest non-metal permanent magnet supplier in Asia-Pacific, comprising 49% of total exports. The second position in the ranking was taken by the Philippines ($X), with an 11% share of total exports. It was followed by South Korea, with an 11% 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-Pacific stood at $X per ton in 2021, picking up by 4.1% against the previous year. Overall, the export price, however, showed a perceptible reduction. The growth pace was the most rapid in 2017 when the export price increased by 7.3%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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-Pacific

In 2021, purchases abroad of non-metal permanent magnets increased by 27% to X tons for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-metal permanent magnet imports soared to $X in 2021. In general, imports, however, continue to indicate a mild curtailment. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The purchases of the eleven major importers of non-metal permanent magnets, namely India, Vietnam, Hong Kong SAR, China, South Korea, Japan, Malaysia, Thailand, Indonesia, Taiwan (Chinese) and Singapore, represented more than two-thirds of total import.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +18.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-metal permanent magnet importing markets in Asia-Pacific were Thailand ($X), Hong Kong SAR ($X) and Vietnam ($X), with a combined 38% share of total imports. China, South Korea, Japan, India, Malaysia, Singapore, Taiwan (Chinese) and Indonesia lagged somewhat behind, together accounting for a further 55%.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +12.9%, recorded 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

The import price in Asia-Pacific stood at $X per ton in 2021, shrinking by -3.7% against the previous year. Overall, the import price showed a pronounced slump. The most prominent rate of growth was recorded in 2017 an increase of 7.7%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while India ($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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