Asia: Metal Permanent Magnet Market 2024

Metal Permanent Magnet Market Size in Asia

In 2023, after six years of growth, there was decline in the Asian metal permanent magnet market, when its value decreased by X% to $X. In general, consumption, however, saw a resilient expansion. Over the period under review, the market reached the maximum level at $X in 2022, and then shrank slightly in the following year.

Metal Permanent Magnet Production in Asia

In value terms, metal permanent magnet production expanded slightly to $X in 2023 estimated in export price. The total production indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Metal Permanent Magnet Exports

Exports in Asia

In 2023, the amount of metal permanent magnets exported in Asia declined to X tons, shrinking by X% compared with the year before. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, metal permanent magnet exports fell dramatically to $X in 2023. In general, exports, however, posted a mild increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then shrank notably in the following year.

Exports by Country

China prevails in exports structure, finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by Japan (X tons), mixing up a X% share of total exports. The following exporters - Vietnam (X tons), Indonesia (X tons), the Philippines (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons) and South Korea (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to metal permanent magnet exports from China stood at X%. At the same time, the Philippines (X%), Vietnam (X%), Indonesia (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, Malaysia (X%), South Korea (X%) and Japan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China, Vietnam and the Philippines increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest metal permanent magnet supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with an X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Metal Permanent Magnet Imports

Imports in Asia

In 2023, after three years of growth, there was significant decline in overseas purchases of metal permanent magnets, when their volume decreased by X% to X tons. Total imports indicated slight growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2022, and then contracted in the following year.

In value terms, metal permanent magnet imports contracted dramatically to $X in 2023. In general, imports, however, saw a pronounced expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then fell significantly in the following year.

Imports by Country

India represented the key importing country with an import of about X tons, which recorded X% of total imports. Malaysia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Japan (X%), South Korea (X%), Vietnam (X%), the Philippines (X%), Thailand (X%) and Indonesia (X%). Taiwan (Chinese) (X tons) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to metal permanent magnet imports into India stood at X%. At the same time, the Philippines (X%), South Korea (X%), Japan (X%), Vietnam (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. Indonesia experienced a relatively flat trend pattern. By contrast, Thailand (X%) and Malaysia (X%) illustrated a downward trend over the same period. While the share of India (X p.p.), the Philippines (X p.p.), South Korea (X p.p.) and Japan (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Thailand (X p.p.) and Malaysia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal permanent magnet importing markets in Asia were Japan ($X), South Korea ($X) and the Philippines ($X), together accounting for X% of total imports.

The Philippines, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, waning by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform