Asia: Metal Permanent Magnet Market 2025

Metal Permanent Magnet Market Size in Asia

The Asian metal permanent magnet market rose markedly to $X in 2022, picking up by 14% against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +106.5% against 2016 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in the immediate term.

Metal Permanent Magnet Production in Asia

In value terms, metal permanent magnet production stood at $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 9.9%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Metal Permanent Magnet Exports

Exports in Asia

In 2022, overseas shipments of metal permanent magnets increased by 10% to X tons, rising for the second year in a row 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 most prominent rate of growth was recorded in 2021 when exports increased by 29%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, metal permanent magnet exports skyrocketed to $X in 2022. Overall, exports posted a notable expansion. The most prominent rate of growth was recorded in 2021 with an increase of 62% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

In 2022, China (X tons) represented the main exporter of metal permanent magnets, comprising 67% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 15% share, followed by Japan (6.6%). The following exporters - Vietnam (X tons), India (X tons) and Indonesia (X tons) - each reached a 6.2% share of total exports.

Exports from China increased at an average annual rate of +3.7% from 2012 to 2022. 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, 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 ($X) remains the largest metal permanent magnet supplier in Asia, comprising 78% of total exports. The second position in the ranking was taken by Japan ($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. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-8.1% per year) and Vietnam (+44.9% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of 17% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 25%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: 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

In 2022, the amount of metal permanent magnets imported in Asia surged to X tons, with an increase of 20% on the year before. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.2% 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 +89.8% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, metal permanent magnet imports skyrocketed to $X in 2022. Over the period under review, imports posted pronounced growth. The pace of growth was the most pronounced in 2021 when imports increased by 46% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, India (X tons) represented the key importer of metal permanent magnets, mixing up 46% of total imports. The Philippines (X tons) held the second position in the ranking, followed by Japan (X tons), Thailand (X tons), South Korea (X tons) and Vietnam (X tons). All these countries together held near 36% share of total imports. Malaysia (X tons) took a minor share of total imports.

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, 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. India (+37 p.p.), the Philippines (+8.9 p.p.) and South Korea (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Thailand, Vietnam and Malaysia saw its share reduced by -3.4%, -3.8% and -8.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), the Philippines ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, with a combined 58% share of total imports.

The Philippines, with a CAGR of +70.5%, saw the highest growth rate of the value of imports, among 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 amounted to $X per ton, rising by 4.6% against the previous year. In general, the import price, however, recorded a slight setback. The growth pace was the most rapid in 2017 when the import price increased by 9.5%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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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