South-Eastern Asia: Permanent Magnet Market 2024

Permanent Magnet Market Size in South-Eastern Asia

In 2021, the Southeast Asian permanent magnet market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is likely to continue growth in years to come.

Permanent Magnet Production in South-Eastern Asia

In value terms, permanent magnet production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 134%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Permanent Magnet Exports

Exports in South-Eastern Asia

In 2021, approx. X tons of permanent magnets were exported in South-Eastern Asia; jumping by 19% on 2020. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.7% 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 +121.1% against 2016 indices. The growth pace was the most rapid in 2017 when exports increased by 37% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, permanent magnet exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a measured expansion. The growth pace was the most rapid in 2019 with an increase of 68% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Philippines was the largest exporter of permanent magnets in South-Eastern Asia, with the volume of exports resulting at X tons, which was near 36% of total exports in 2021. Vietnam (X tons) held an 18% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (16%), Indonesia (14%) and Thailand (12%). Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to permanent magnet exports from the Philippines stood at +15.7%. At the same time, Vietnam (+27.4%) and Thailand (+12.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +27.4% from 2012-2021. By contrast, Indonesia (-1.1%), Malaysia (-1.2%) and Singapore (-6.6%) illustrated a downward trend over the same period. While the share of the Philippines (+19 p.p.), Vietnam (+14 p.p.) and Thailand (+4.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-8 p.p.), Indonesia (-13.9 p.p.) and Malaysia (-15.7 p.p.) displayed negative dynamics.

In value terms, the largest permanent magnet supplying countries in South-Eastern Asia were the Philippines ($X), Malaysia ($X) and Vietnam ($X), together comprising 81% of total exports.

Vietnam, with a CAGR of +28.5%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, with an increase of 19% against the previous year. In general, the export price, however, recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2019 an increase of 30%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia ($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 (+5.2%), while the other leaders experienced more modest paces of growth.

Permanent Magnet Imports

Imports in South-Eastern Asia

For the third consecutive year, South-Eastern Asia recorded growth in overseas purchases of permanent magnets, which increased by 19% to X tons in 2021. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, permanent magnet imports skyrocketed to $X in 2021. Over the period under review, imports posted a noticeable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of permanent magnet imports in 2021 were Vietnam (X tons), Thailand (X tons), Malaysia (X tons), Indonesia (X tons) and the Philippines (X tons), together reaching 92% of total import. It was distantly followed by Singapore (X tons), achieving a 6.4% share of total imports. Cambodia (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of +43.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Vietnam ($X) and Thailand ($X) were the countries with the highest levels of imports in 2021, together accounting for 76% of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +50.3%, recorded the highest rates of growth with regard to 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

In 2021, the import price in South-Eastern Asia amounted to $X per ton, jumping by 18% against the previous year. Import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, permanent magnet import price increased by +55.3% against 2017 indices. The growth pace was the most rapid in 2019 an increase of 20% against the previous year. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

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 ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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