Philippines: Non-Metal Permanent Magnet Market 2025

Non-Metal Permanent Magnet Market Size in the Philippines

The Philippine non-metal permanent magnet market fell slightly to $X in 2021, waning by -4% against the previous year. Over the period under review, consumption saw resilient growth. Non-metal permanent magnet consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Non-Metal Permanent Magnet Production in the Philippines

In value terms, non-metal permanent magnet production totaled $X in 2021 estimated in export price. Over the period under review, production recorded temperate growth. The growth pace was the most rapid in 2017 with an increase of 44% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Non-Metal Permanent Magnet Exports

Exports from the Philippines

In 2021, approx. X tons of non-metal permanent magnets were exported from the Philippines; surging by 71% on 2020. In general, exports posted strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 647% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, non-metal permanent magnet exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2017 with an increase of 535%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons), Hong Kong SAR (X tons) and the United States (X tons) were the main destinations of non-metal permanent magnet exports from the Philippines, with a combined 88% share of total exports. Vietnam, Thailand and China lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +137.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-metal permanent magnet exported from the Philippines were Japan ($X), Hong Kong SAR ($X) and the United States ($X), together accounting for 88% of total exports. These countries were followed by Vietnam, Thailand and China, which together accounted for a further 11%.

Vietnam, with a CAGR of +95.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 non-metal permanent magnet export price amounted to $X per ton, dropping by -13.8% against the previous year. Over the period under review, the export price faced a deep reduction. The pace of growth appeared the most rapid in 2020 when the average export price decreased by -7.3%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Vietnam ($X per ton) and Japan ($X per ton), while the average price for exports to Thailand ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-13.7%), while the prices for the other major destinations experienced a decline.

Non-Metal Permanent Magnet Imports

Imports into the Philippines

Non-metal permanent magnet imports into the Philippines surged to X tons in 2021, growing by 21% on the year before. In general, imports showed resilient growth. The growth pace was the most rapid in 2017 with an increase of 73%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, non-metal permanent magnet imports reached $X in 2021. Over the period under review, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 139%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Singapore (X tons) constituted the largest supplier of non-metal permanent magnet to the Philippines, accounting for a 57% share of total imports. Moreover, non-metal permanent magnet imports from Singapore exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Malaysia (X tons) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Singapore totaled +63.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.7% per year) and Malaysia (+84.6% per year).

In value terms, the largest non-metal permanent magnet suppliers to the Philippines were China ($X), Malaysia ($X) and Singapore ($X), together comprising 71% of total imports. Japan, Hong Kong SAR, the Netherlands, South Korea, Indonesia and Thailand lagged somewhat behind, together comprising a further 21%.

Among the main suppliers, the Netherlands, with a CAGR of +111.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-metal permanent magnet import price stood at $X per ton in 2021, reducing by -7.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 38% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Singapore ($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 (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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