South-Eastern Asia: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in South-Eastern Asia

In 2021, the Southeast Asian non-metal permanent magnet market was finally on the rise to reach $X after two years of decline. The total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Non-Metal Permanent Magnet Production in South-Eastern Asia

In value terms, non-metal permanent magnet production declined modestly to $X in 2021 estimated in export price. In general, production saw prominent growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 95% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Non-Metal Permanent Magnet Exports

Exports in South-Eastern Asia

Non-metal permanent magnet exports soared to X tons in 2021, with an increase of 25% against the previous year's figure. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.5% 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 +114.0% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 57%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, non-metal permanent magnet exports skyrocketed to $X in 2021. Overall, exports, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2017 with an increase of 110%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines was the largest exporting country with an export of around X tons, which amounted to 46% of total exports. Vietnam (X tons) took a 24% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (22%). The following exporters - Thailand (X tons) and Singapore (X tons) - each resulted at a 7.7% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of +24.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest non-metal permanent magnet supplying countries in South-Eastern Asia were the Philippines ($X), Malaysia ($X) and Vietnam ($X), with a combined 92% share of total exports.

Among the main exporting countries, Malaysia, with a CAGR of +20.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, rising by 6.4% against the previous year. Overall, the export price, however, continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2017 when the export price increased by 34% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+19.9%), while the other leaders experienced mixed trends in the export price figures.

Non-Metal Permanent Magnet Imports

Imports in South-Eastern Asia

In 2021, the amount of non-metal permanent magnets imported in South-Eastern Asia skyrocketed to X tons, growing by 19% against the previous year. Total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +88.9% against 2015 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 33% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, non-metal permanent magnet imports soared to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 35%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Vietnam was the key importing country with an import of about X tons, which reached 37% of total imports. Malaysia (X tons) took the second position in the ranking, followed by Thailand (X tons), Indonesia (X tons) and Singapore (X tons). All these countries together held approx. 58% share of total imports. The Philippines (X tons) and Cambodia (X tons) followed a long way behind the leaders.

Imports into Vietnam increased at an average annual rate of +8.3% from 2012 to 2021. At the same time, Cambodia (+35.3%), the Philippines (+13.5%), Singapore (+11.1%), Malaysia (+5.2%) and Thailand (+1.1%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +35.3% from 2012-2021. By contrast, Indonesia (-4.2%) illustrated a downward trend over the same period. Vietnam (+12 p.p.), Singapore (+3.7 p.p.), Malaysia (+2 p.p.) and the Philippines (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Thailand and Indonesia saw its share reduced by -4.5% and -16.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest non-metal permanent magnet importing markets in South-Eastern Asia were Thailand ($X), Vietnam ($X) and Malaysia ($X), together accounting for 72% of total imports. These countries were followed by Singapore, Indonesia, the Philippines and Cambodia, which together accounted for a further 28%.

Cambodia, with a CAGR of +37.8%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Overall, the import price, however, recorded a noticeable decline. The pace of growth was the most pronounced in 2015 when the import price increased by 16%. The level of import peaked 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 importing countries. In 2021, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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