Republic of Korea - Non-metal Permanent Magnets - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNon-Metal Permanent Magnet Price in South Korea - 2022
Contents:
- Non-Metal Permanent Magnet Price in South Korea (FOB) - 2022
- Non-Metal Permanent Magnet Price in South Korea (CIF) - 2022
- Non-Metal Permanent Magnet Exports in South Korea
- Non-Metal Permanent Magnet Imports in South Korea
Non-Metal Permanent Magnet Price in South Korea (FOB) - 2022
In December 2022, the average non-metal permanent magnet export price amounted to $4,278 per ton, reducing by -3.5% against the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 an increase of 8.1% month-to-month. As a result, the export price attained the peak level of $4,807 per ton. From April 2022 to December 2022, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was Vietnam ($6,502 per ton), while the average price for exports to the Netherlands ($2,974 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.
Non-Metal Permanent Magnet Price in South Korea (CIF) - 2022
The average non-metal permanent magnet import price stood at $7,395 per ton in December 2022, which is down by -16.6% against the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in October 2022 when the average import price increased by 37% m-o-m. As a result, import price reached the peak level of $12,832 per ton. From November 2022 to December 2022, the average import prices remained at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From December 2021 to December 2022, the rate of growth in terms of prices for China amounted to +0.6% per month.
Non-Metal Permanent Magnet Exports in South Korea
Non-metal permanent magnet exports from South Korea dropped dramatically to 22K tons in 2022, with a decrease of -24% on the year before. In general, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 24% against the previous year. As a result, the exports attained the peak of 28K tons, and then reduced markedly in the following year.
In value terms, non-metal permanent magnet exports declined to $95M in 2022. Overall, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 15% against the previous year.
| Export of Non-Metal Permanent Magnet in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 21.2 | 22.0 | 26.6 | 25.6 | 6.5% |
| Italy | 8.6 | 8.2 | 10.8 | 8.8 | 0.8% |
| Germany | 20.8 | 14.7 | 12.0 | 8.4 | -26.1% |
| India | 5.4 | 5.1 | 6.5 | 7.4 | 11.1% |
| United States | 3.6 | 3.6 | 4.5 | 7.2 | 26.0% |
| Vietnam | 22.5 | 16.0 | 6.9 | 7.0 | -32.2% |
| Mexico | 6.7 | 4.4 | 6.4 | 6.9 | 1.0% |
| Japan | 3.5 | 3.1 | 5.4 | 5.6 | 17.0% |
| Netherlands | 1.5 | 1.0 | 8.6 | 4.1 | 39.8% |
| Brazil | 2.2 | 1.9 | 2.5 | 3.0 | 10.9% |
| Hong Kong SAR | 7.2 | 7.3 | 8.2 | 1.8 | -37.0% |
| Indonesia | 1.2 | 1.2 | 2.0 | 1.7 | 12.3% |
| Hungary | 3.1 | 2.3 | 2.7 | 1.2 | -27.1% |
| Others | 8.8 | 6.0 | 7.8 | 5.8 | -13.0% |
| Total | 116 | 96.8 | 111 | 94.8 | -6.5% |
Top Export Markets for Non-Metal Permanent Magnet from South Korea in 2022:
- China (5.3K tons)
- Italy (2.7K tons)
- Germany (2.1K tons)
- Mexico (1.9K tons)
- Netherlands (1.5K tons)
- United States (1.5K tons)
- India (1.4K tons)
- Japan (1.1K tons)
- Brazil (0.9K tons)
- Vietnam (0.8K tons)
- Indonesia (0.5K tons)
- Hungary (0.3K tons)
- Hong Kong SAR (0.2K tons)
Non-Metal Permanent Magnet Imports in South Korea
In 2022, approx. 9.9K tons of non-metal permanent magnets were imported into South Korea; growing by 6.1% against the previous year's figure. The total import volume increased at an average annual rate of +5.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 33%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.
In value terms, non-metal permanent magnet imports surged to $86M in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +9.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 42%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Import of Non-Metal Permanent Magnet in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 52.7 | 45.3 | 65.0 | 76.7 | 13.3% |
| Vietnam | 0.4 | 0.1 | 0.2 | 1.7 | 62.0% |
| Others | 12.2 | 6.6 | 8.9 | 7.6 | -14.6% |
| Total | 65.2 | 52.0 | 74.1 | 86.1 | 9.7% |
Top Suppliers of Non-Metal Permanent Magnet to South Korea in 2022:
- China (9.5K tons)
- Vietnam (0.2K tons)
This report provides an in-depth analysis of the non-metal permanent magnet market in Republic of Korea. 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 23441230 - Permanent magnets and articles intended to become permanent magnets (excluding of metal)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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With the development of the electric car and electronic technology industry, the demand for permanent magnets is showing significant growth. China, thanks to government subsidies, continues to maintain low market prices for permanent magnets and dominate the export market.
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Explore the top 10 import markets for permanent magnets, including key statistics and insights. Find out which countries dominate the global import market for these essential materials.
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With the development of the electric car and electronic technology industry, the demand for permanent magnets is showing significant growth. China, thanks to government subsidies, continues to maintain low market prices for permanent magnets and dominate the export market.
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Global permanent magnet imports totaled X tons in 2016, remaining stable against the previous year figure. Overall, permanent magnet imports continue to indicate a relatively flat trend pattern. ...
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Global permanent magnet imports totaled X tons in 2016, remaining stable against the previous year figure. Overall, permanent magnet imports continue to indicate a relatively flat trend pattern. ...
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