Hong Kong SAR, China: Metal Permanent Magnet Market 2025

Metal Permanent Magnet Market Size in Hong Kong SAR, China

In 2022, the Hong Kong metal permanent magnet market decreased by -81% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption showed a precipitous curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Metal Permanent Magnet Production in Hong Kong SAR, China

In value terms, metal permanent magnet production fell dramatically to $X in 2022 estimated in export price. In general, production faced a significant decrease. Metal permanent magnet production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Metal Permanent Magnet Exports

Exports from Hong Kong SAR, China

Metal permanent magnet exports from Hong Kong SAR reduced markedly to X tons in 2022, waning by -21.7% against the previous year's figure. In general, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2021 with an increase of 13% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, metal permanent magnet exports fell sharply to $X in 2022. Over the period under review, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of 22%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for metal permanent magnet exports from Hong Kong SAR, with a 52% share of total exports. Moreover, metal permanent magnet exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a 6.1% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled -19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+42.1% per year) and Thailand (-12.0% per year).

In value terms, China ($X) remains the key foreign market for metal permanent magnets exports from Hong Kong SAR, comprising 63% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 12% share of total exports. It was followed by Japan, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to -17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+42.7% per year) and Japan (-6.1% per year).

Export Prices by Country

The average metal permanent magnet export price stood at $X per ton in 2022, with a decrease of -8.6% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 76% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Permanent Magnet Imports

Imports into Hong Kong SAR, China

In 2022, approx. X tons of metal permanent magnets were imported into Hong Kong SAR; which is down by -61.6% on the year before. In general, imports faced a drastic downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, metal permanent magnet imports declined dramatically to $X in 2022. Over the period under review, imports recorded a abrupt downturn. The growth pace was the most rapid in 2021 with an increase of 25% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), South Korea (X tons) and the Philippines (X tons) were the main suppliers of metal permanent magnet imports to Hong Kong SAR, together accounting for 79% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of +31.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the Philippines ($X) and Japan ($X) constituted the largest metal permanent magnet suppliers to Hong Kong SAR, together comprising 84% of total imports.

The Philippines, with a CAGR of +16.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average metal permanent magnet import price stood at $X per ton in 2022, surging by 75% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal permanent magnet import price increased by +96.8% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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