Hong Kong SAR, China - Permanent Magnets - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPermanent Magnet Price in Hong Kong SAR - 2023
Contents:
- Permanent Magnet Price in Hong Kong SAR (CIF) - 2023
- Permanent Magnet Price in Hong Kong SAR (FOB) - 2023
- Permanent Magnet Imports in Hong Kong SAR
- Permanent Magnet Exports in Hong Kong SAR
Permanent Magnet Price in Hong Kong SAR (CIF) - 2023
In September 2023, the average permanent magnet import price amounted to $11,028 per ton, waning by -16.2% against the previous month. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 46% against the previous month. The import price peaked at $17,669 per ton in May 2023; however, from June 2023 to September 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was the Philippines ($62,272 per ton), while the price for Vietnam ($3,725 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Permanent Magnet Price in Hong Kong SAR (FOB) - 2023
In September 2023, the average permanent magnet export price amounted to $13,844 per ton, reducing by -7.5% against the previous month. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 when the average export price increased by 37% m-o-m. Over the period under review, the average export prices attained the maximum at $18,932 per ton in April 2023; however, from May 2023 to September 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was China ($24,427 per ton), while the average price for exports to Vietnam ($5,394 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.
Permanent Magnet Imports in Hong Kong SAR
Permanent magnet imports into Hong Kong SAR fell sharply to 8.7K tons in 2022, with a decrease of -51.6% compared with the previous year's figure. Overall, imports continue to indicate a dramatic shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by 16%. As a result, imports attained the peak of 18K tons, and then contracted markedly in the following year.
In value terms, permanent magnet imports reduced remarkably to $117M in 2022. In general, imports recorded a drastic downturn. The pace of growth was the most pronounced in 2021 when imports increased by 15%.
| Import of Permanent Magnet in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 118 | 106 | 111 | 68.4 | -16.6% |
| Philippines | 25.6 | 19.4 | 32.1 | 22.5 | -4.2% |
| Japan | 31.7 | 17.2 | 20.8 | 15.0 | -22.1% |
| South Korea | 6.8 | 7.0 | 8.2 | 3.5 | -19.9% |
| Others | 12.0 | 10.8 | 11.9 | 7.5 | -14.5% |
| Total | 194 | 161 | 184 | 117 | -15.5% |
Top Suppliers of Permanent Magnet to Hong Kong SAR in 2022:
- China (6.8K tons)
- Japan (1.0K tons)
- South Korea (0.4K tons)
- Philippines (0.3K tons)
Permanent Magnet Exports in Hong Kong SAR
In 2022, the amount of permanent magnets exported from Hong Kong SAR fell rapidly to 8K tons, shrinking by -48.3% on 2021. In general, exports showed a dramatic decline. The pace of growth was the most pronounced in 2021 with an increase of 20%.
In value terms, permanent magnet exports dropped significantly to $116M in 2022. Over the period under review, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 14%.
| Export of Permanent Magnet in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 98.5 | 71.7 | 94.4 | 58.1 | -16.1% |
| Vietnam | 35.3 | 23.8 | 27.7 | 22.7 | -13.7% |
| Japan | 32.2 | 20.0 | 16.1 | 10.1 | -32.1% |
| United States | 6.6 | 3.9 | 4.5 | 4.6 | -11.3% |
| Thailand | 8.2 | 4.8 | 5.7 | 2.7 | -30.9% |
| Germany | 5.5 | 5.6 | 3.7 | 1.9 | -29.8% |
| Others | 25.4 | 21.8 | 20.0 | 15.4 | -15.4% |
| Total | 212 | 152 | 172 | 116 | -18.2% |
Top Export Markets for Permanent Magnet from Hong Kong SAR in 2022:
- Vietnam (3.3K tons)
- China (2.8K tons)
- Japan (0.4K tons)
- United States (0.2K tons)
- Thailand (0.2K tons)
- Germany (0.2K tons)
This report provides an in-depth analysis of the permanent magnet market in Hong Kong SAR, China. 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)
- Prodcom 25992995 - Permanent magnets and articles intended to become permanent magnets, of metal
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- 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
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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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Permanent Magnet imports peaked at 29K tons in 2014 but failed to regain momentum from 2015 to 2023. In value terms, imports rapidly shrank to $89M in 2023.
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In January 2023, the price of permanent magnets was $17,545 per ton (CIF, Hong Kong, China), a 46% increase from the month before.
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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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Permanent Magnet imports peaked at 29K tons in 2014 but failed to regain momentum from 2015 to 2023. In value terms, imports rapidly shrank to $89M in 2023.
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In January 2023, the price of permanent magnets was $17,545 per ton (CIF, Hong Kong, China), a 46% increase from the month before.
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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.
