Asia-Pacific: Metal Permanent Magnet Market 2025

Metal Permanent Magnet Market Size in Asia-Pacific

The Asia-Pacific metal permanent magnet market rose notably to $X in 2022, growing by 15% against the previous year. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +112.9% against 2016 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Metal Permanent Magnet Production in Asia-Pacific

In value terms, metal permanent magnet production expanded slightly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 11%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Metal Permanent Magnet Exports

Exports in Asia-Pacific

In 2022, overseas shipments of metal permanent magnets increased by 10% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 29%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, metal permanent magnet exports skyrocketed to $X in 2022. Overall, exports saw a notable expansion. The most prominent rate of growth was recorded in 2021 with an increase of 62%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

In 2022, China (X tons) was the largest exporter of metal permanent magnets, mixing up 67% of total exports. Malaysia (X tons) held the second position in the ranking, distantly followed by Japan (X tons). All these countries together took approx. 21% share of total exports. The following exporters - Vietnam (X tons), India (X tons) and Indonesia (X tons) - each accounted for a 6.2% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to metal permanent magnet exports from China stood at +3.7%. At the same time, Malaysia (+32.4%), Vietnam (+29.3%), India (+3.9%) and Indonesia (+3.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +32.4% from 2012-2022. By contrast, Japan (-6.6%) illustrated a downward trend over the same period. Malaysia (+14 p.p.) and Vietnam (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by -12.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest metal permanent magnet supplier in Asia-Pacific, comprising 78% of total exports. The second position in the ranking was held by Japan ($X), with a 9.9% share of total exports. It was followed by Vietnam, with a 2.9% share.

In China, metal permanent magnet exports increased at an average annual rate of +7.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-8.1% per year) and Vietnam (+44.9% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, jumping by 17% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 25%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+12.1%), while the other leaders experienced more modest paces of growth.

Metal Permanent Magnet Imports

Imports in Asia-Pacific

In 2022, the amount of metal permanent magnets imported in Asia-Pacific soared to X tons, with an increase of 20% against 2021 figures. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 50% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, metal permanent magnet imports surged to $X in 2022. Over the period under review, imports posted a moderate expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 46% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, India (X tons) represented the major importer of metal permanent magnets, mixing up 47% of total imports. It was distantly followed by the Philippines (X tons), Japan (X tons), Thailand (X tons), South Korea (X tons) and Vietnam (X tons), together creating a 37% share of total imports. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to metal permanent magnet imports into India stood at +23.6%. At the same time, the Philippines (+48.9%), South Korea (+11.4%) and Japan (+3.9%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +48.9% from 2012-2022. Thailand and Vietnam experienced a relatively flat trend pattern. By contrast, Malaysia (-6.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, the Philippines and South Korea increased by +38, +9.1 and +2.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal permanent magnet importing markets in Asia-Pacific were Japan ($X), the Philippines ($X) and South Korea ($X), with a combined 59% share of total imports.

The Philippines, with a CAGR of +70.5%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, surging by 3.7% against the previous year. Over the period under review, the import price, however, recorded a mild curtailment. The pace of growth was the most pronounced in 2017 an increase of 11% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+16.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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