Malaysia: Permanent Magnet Market 2024

Permanent Magnet Market Size in Malaysia

In 2021, after two years of decline, there was significant growth in the Malaysian permanent magnet market, when its value increased by 57% to $X. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Permanent Magnet Production in Malaysia

In value terms, permanent magnet production dropped rapidly to $X in 2021 estimated in export price. In general, production, however, showed significant growth. The growth pace was the most rapid in 2018 with an increase of 806% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Permanent Magnet Exports

Exports from Malaysia

Permanent magnet exports from Malaysia fell remarkably to X tons in 2021, shrinking by -31.1% on 2020. Overall, exports saw a slight contraction. The most prominent rate of growth was recorded in 2013 with an increase of 24% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, permanent magnet exports rose to $X in 2021. Over the period under review, total exports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +77.6% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 34% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

China (X tons) was the main destination for permanent magnet exports from Malaysia, with a 30% share of total exports. Moreover, permanent magnet exports to China exceeded the volume sent to the second major destination, Thailand (X tons), twofold. The third position in this ranking was held by Switzerland (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+21.2% per year) and Switzerland (+16.0% per year).

In value terms, the largest markets for permanent magnet exported from Malaysia were Japan ($X), Thailand ($X) and the Philippines ($X), together comprising 56% of total exports.

In terms of the main countries of destination, Thailand, with a CAGR of +24.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average permanent magnet export price amounted to $X per ton, surging by 51% against the previous year. Overall, the export price continues to indicate a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Indonesia ($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 Vietnam (+28.6%), while the prices for the other major destinations experienced more modest paces of growth.

Permanent Magnet Imports

Imports into Malaysia

In 2021, the amount of permanent magnets imported into Malaysia skyrocketed to X tons, rising by 21% on 2020. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 40% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, permanent magnet imports skyrocketed to $X in 2021. In general, imports, however, showed a noticeable contraction. Imports peaked 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 permanent magnet to Malaysia, with a 76% share of total imports. Moreover, permanent magnet imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sevenfold. The third position in this ranking was taken by Thailand (X tons), with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-9.9% per year) and Thailand (+35.5% per year).

In value terms, the largest permanent magnet suppliers to Malaysia were Japan ($X), China ($X) and Thailand ($X), together comprising 86% of total imports.

In terms of the main suppliers, Thailand, with a CAGR of +37.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average permanent magnet import price amounted to $X per ton, rising by 7.6% against the previous year. In general, the import price, however, showed a deep slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by 26%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Japan ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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