Report Update: Apr 20, 2024

Philippines - Permanent Magnets Of Metal - Market Analysis, Forecast, Size, Trends And Insights

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Metal Permanent Magnet Price in the Philippines - 2023

Metal Permanent Magnet Price in the Philippines (CIF) - 2022

In 2022, the average metal permanent magnet import price amounted to $53,428 per ton, increasing by 4.7% against the previous year. Over the period under review, the import price showed prominent growth. The pace of growth was the most pronounced in 2015 an increase of 76% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($53,428 per ton), while the price for China ($53,428 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+34.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Metal Permanent Magnet Price in the Philippines (FOB) - 2022

In 2022, the average metal permanent magnet export price amounted to $61,745 per ton, reducing by -5.1% against the previous year. Over the period under review, the export price showed a noticeable downturn. The pace of growth was the most pronounced in 2021 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices hit record highs at $123,815 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($61,745 per ton) and Thailand ($61,745 per ton), while the average price for exports to China ($61,745 per ton) and South Korea ($61,745 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+0.7%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Permanent Magnet Imports in the Philippines

In 2022, approx. 10K tons of metal permanent magnets were imported into the Philippines; picking up by 24% against 2021. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +17.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 25% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, metal permanent magnet imports skyrocketed to $556M in 2022. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 64% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Import of Metal Permanent Magnet in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	117	148	264	332	41.6%
Vietnam	96.7	66.0	127	180	23.0%
China	20.4	34.7	24.0	36.1	21.0%
Malaysia	9.7	8.2	8.4	4.5	-22.6%
Others	2.3	5.6	6.1	3.6	16.1%
Total	247	262	429	556	31.1%

Top Suppliers of Metal Permanent Magnet to the Philippines in 2022:

Japan (6.2K tons)
Vietnam (3.4K tons)
China (0.7K tons)
Malaysia (0.1K tons)

Metal Permanent Magnet Exports in the Philippines

Metal permanent magnet exports from the Philippines rose modestly to 2.3K tons in 2022, increasing by 4.1% compared with 2021. In general, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 1,664% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, metal permanent magnet exports declined slightly to $145M in 2022. Overall, exports posted a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of 2,135% against the previous year. As a result, the exports attained the peak of $147M, and then contracted modestly in the following year.

Export of Metal Permanent Magnet in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	14.7	1.8	44.1	58.4	58.4%
China	38.9	0.3	37.8	33.7	-4.7%
Japan	9.6	2.0	23.9	32.0	49.4%
Thailand	6.1	0.1	10.5	11.0	21.7%
United States	17.4	N/A	20.2	6.0	-29.9%
Hong Kong SAR	6.0	2.0	6.8	1.5	-37.0%
Others	2.2	0.4	3.3	2.2	0.0%
Total	95.0	6.6	147	145	15.1%

Top Export Markets for Metal Permanent Magnet from the Philippines in 2022:

South Korea (946.6 tons)
China (546.1 tons)
Japan (517.5 tons)
Thailand (177.9 tons)
United States (97.7 tons)
Hong Kong SAR (24.0 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the metal permanent magnet market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25992995 - Permanent magnets and articles intended to become permanent magnets, of metal

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023