Hong Kong SAR, China: Non-Metal Permanent Magnet Market 2025

Non-Metal Permanent Magnet Market Size in Hong Kong SAR, China

In 2021, after four years of growth, there was significant decline in the Hong Kong non-metal permanent magnet market, when its value decreased by -30.5% to $X. In general, consumption, however, saw a notable increase. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Non-Metal Permanent Magnet Production in Hong Kong SAR, China

In value terms, non-metal permanent magnet production stood at $X in 2021 estimated in export price. In general, production continues to indicate a precipitous descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by 113%. Non-metal permanent magnet production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Non-Metal Permanent Magnet Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of non-metal permanent magnets were finally on the rise to reach X tons after six years of decline. Overall, exports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when exports increased by 37% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, non-metal permanent magnet exports amounted to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2014 with an increase of 36%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Vietnam (X tons) and Japan (X tons) were the main destinations of non-metal permanent magnet exports from Hong Kong SAR, with a combined 82% share of total exports. These countries were followed by Thailand, Germany, India, the United States and Malaysia, which together accounted for a further 12%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +9.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Vietnam ($X) and Japan ($X) appeared to be the largest markets for non-metal permanent magnet exported from Hong Kong SAR worldwide, with a combined 76% share of total exports. These countries were followed by Thailand, Germany, the United States, India and Malaysia, which together accounted for a further 13%.

Among the main countries of destination, India, with a CAGR of +2.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average non-metal permanent magnet export price amounted to $X per ton, with a decrease of -10.5% against the previous year. Over the period under review, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by 11%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+3.1%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Metal Permanent Magnet Imports

Imports into Hong Kong SAR, China

In 2021, after six years of decline, there was significant growth in overseas purchases of non-metal permanent magnets, when their volume increased by 16% to X tons. Overall, imports, however, showed a pronounced downturn. The pace of growth was the most pronounced in 2014 with an increase of 17% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, non-metal permanent magnet imports rose rapidly to $X in 2021. Over the period under review, imports, however, saw a pronounced slump. The growth pace was the most rapid in 2017 with an increase of 14%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of non-metal permanent magnet to Hong Kong SAR, with a 81% share of total imports. Moreover, non-metal permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.6% per year) and the Philippines (+12.7% per year).

In value terms, China ($X) constituted the largest supplier of non-metal permanent magnets to Hong Kong SAR, comprising 77% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (-4.1% per year) and Japan (-19.8% per year).

Import Prices by Country

In 2021, the average non-metal permanent magnet import price amounted to $X per ton, shrinking by -8.5% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 15% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for Japan ($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 (+5.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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