Eastern Asia: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Eastern Asia

In 2021, the East Asian non-metal permanent magnet market decreased by -11.8% to $X, falling for the third year in a row after three years of growth. In general, consumption recorded a perceptible decrease. As a result, consumption reached 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 Eastern Asia

In value terms, non-metal permanent magnet production expanded rapidly to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 9.5%. 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 Eastern Asia

In 2021, overseas shipments of non-metal permanent magnets were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. 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 soared to $X in 2021. In general, exports, however, showed a slight reduction. 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 exporter of non-metal permanent magnets in Eastern Asia, with the volume of exports accounting for X tons, which was approx. 78% of total exports in 2021. South Korea (X tons) took the second position in the ranking, followed by Hong Kong SAR (X tons). All these countries together took approx. 19% share of total exports. Japan (X tons) took a little share 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, South Korea (+5.0%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +5.0% 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 +4.5 and +3.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest non-metal permanent magnet supplier in Eastern Asia, comprising 62% of total exports. The second position in the ranking was held by South Korea ($X), with a 14% share of total exports. It was followed by Hong Kong SAR, with a 12% share.

In China, non-metal permanent magnet exports increased at an average annual rate of +3.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+3.3% per year) and Hong Kong SAR (-12.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, surging by 3% against the previous year. Over the period under review, the export price, however, showed a noticeable downturn. The pace of growth appeared the most rapid in 2014 when the export price increased by 7.6% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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 Japan ($X per ton), while China ($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 Eastern Asia

In 2021, purchases abroad of non-metal permanent magnets was finally on the rise to reach X tons after three years of decline. In general, imports, however, recorded a mild curtailment. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, non-metal permanent magnet imports surged to $X in 2021. Overall, imports, however, continue to indicate a noticeable downturn. 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

Hong Kong SAR (X tons), China (X tons), South Korea (X tons) and Japan (X tons) represented roughly 90% of total imports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), committing a 10% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +4.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-metal permanent magnet importing markets in Eastern Asia were Hong Kong SAR ($X), China ($X) and South Korea ($X), together comprising 72% of total imports. Japan and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 28%.

Taiwan (Chinese), with a CAGR of +12.9%, recorded 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 a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2018 an increase of 8.1% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in South Korea ($X per ton) and China ($X per ton), while Taiwan (Chinese) ($X per ton) and Hong Kong SAR ($X per ton) were 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 mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :