Southern Asia: Metal Permanent Magnet Market 2025

Metal Permanent Magnet Market Size in Southern Asia

In 2022, the South Asian metal permanent magnet market increased by 25% to $X, rising for the sixth consecutive year after two years of decline. Over the period under review, consumption recorded prominent growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Metal Permanent Magnet Production in Southern Asia

In value terms, metal permanent magnet production rose sharply to $X in 2022 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.0% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 25%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Metal Permanent Magnet Exports

Exports in Southern Asia

In 2022, approx. X tons of metal permanent magnets were exported in Southern Asia; waning by -8.3% compared with 2021. Total exports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +19.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 30%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, metal permanent magnet exports declined slightly to $X in 2022. Total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.5% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 64% against the previous year. As a result, the exports attained the peak of $X, and then contracted slightly in the following year.

Exports by Country

The shipments of the one major exporters of metal permanent magnets, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the metal permanent magnets exports, with a CAGR of +3.9% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest metal permanent magnet supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India totaled +4.1%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, growing by 7.1% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 27% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +0.2% per year.

Metal Permanent Magnet Imports

Imports in Southern Asia

In 2022, overseas purchases of metal permanent magnets increased by 62% to X tons, rising for the second year in a row after two years of decline. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 174% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, metal permanent magnet imports soared to $X in 2022. Overall, imports posted a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 55% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

The purchases of the one major importers of metal permanent magnets, namely India, represented more than two-thirds of total import.

India was also the fastest-growing in terms of the metal permanent magnets imports, with a CAGR of +23.6% from 2012 to 2022. India (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported metal permanent magnets in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India stood at +8.6%.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, dropping by -7.4% against the previous year. Over the period under review, the import price faced a abrupt slump. The pace of growth was the most pronounced in 2020 an increase of 20%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -12.2% per year.

Source: IndexBox Platform

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