Eastern Asia: Permanent Magnet Market 2024

Permanent Magnet Market Size in Eastern Asia

In 2021, the East Asian permanent magnet market decreased by -10.9% to $X for the first time since 2016, thus ending a four-year rising trend. The total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then contracted in the following year.

Permanent Magnet Production in Eastern Asia

In value terms, permanent magnet production amounted to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 8.9% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Permanent Magnet Exports

Exports in Eastern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of permanent magnets, when their volume increased by 23% to X tons. The total export volume increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable 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, permanent magnet exports soared to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, recording X tons, which was approx. 82% of total exports in 2021. It was distantly followed by South Korea (X tons) and Japan (X tons), together generating a 13% share of total exports. Hong Kong SAR (X tons) took a relatively small share of total exports.

Exports from China increased at an average annual rate of +3.1% from 2012 to 2021. At the same time, South Korea (+4.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +4.9% from 2012-2021. By contrast, Japan (-5.2%) and Hong Kong SAR (-7.5%) illustrated a downward trend over the same period. China (+8.7 p.p.) and South Korea (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Japan and Hong Kong SAR saw its share reduced by -4.5% and -5.6% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest permanent magnet supplier in Eastern Asia, comprising 79% of total exports. The second position in the ranking was held by Japan ($X), with a 13% share of total exports. It was followed by Hong Kong SAR, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +4.1%. In the other countries, the average annual rates were as follows: Japan (-8.9% per year) and Hong Kong SAR (-12.8% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, with an increase of 22% against the previous year. Overall, the export price, however, recorded a mild reduction. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($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 (+1.0%), while the other leaders experienced a decline in the export price figures.

Permanent Magnet Imports

Imports in Eastern Asia

After three years of decline, supplies from abroad of permanent magnets increased by 19% to X tons in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, permanent magnet imports soared to $X in 2021. In general, imports, however, recorded a perceptible setback. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Hong Kong SAR (X tons), Japan (X tons), China (X tons) and South Korea (X tons) was the key importer of permanent magnets in Eastern Asia, mixing up 88% of total import. It was distantly followed by Taiwan (Chinese) (X tons), creating a 12% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +4.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported permanent magnets in Eastern Asia, comprising 40% of total imports. The second position in the ranking was taken by South Korea ($X), with an 18% share of total imports. It was followed by China, with an 18% share.

In Japan, permanent magnet imports expanded at an average annual rate of +1.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+1.1% per year) and China (-10.3% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, surging by 10% against the previous year. In general, the import price, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2017 when the import price increased by 11%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, 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 ($X per ton), while Hong Kong SAR ($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) (+4.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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