Eastern Asia: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Eastern Asia

After two years of growth, the East Asian non-metal permanent magnet market decreased by X% to $X in 2023. The total consumption indicated notable 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, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2022, and then shrank in the following year.

Non-Metal Permanent Magnet Production in Eastern Asia

In value terms, non-metal permanent magnet production rose modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Non-Metal Permanent Magnet Exports

Exports in Eastern Asia

In 2023, the amount of non-metal permanent magnets exported in Eastern Asia contracted slightly to X tons, flattening at the year before. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, non-metal permanent magnet exports contracted to $X in 2023. In general, exports recorded a perceptible slump. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China was the largest exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by South Korea (X tons), achieving a X% share of total exports. Hong Kong SAR (X tons) and Japan (X tons) held a little share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of non-metal permanent magnets. At the same time, South Korea (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Japan (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China and South Korea increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, non-metal permanent magnet exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (X% per year) and Japan (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the export price showed a perceptible contraction. The pace of growth was the most pronounced in 2022 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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 Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the export price figures.

Non-Metal Permanent Magnet Imports

Imports in Eastern Asia

In 2023, the amount of non-metal permanent magnets imported in Eastern Asia contracted to X tons, with a decrease of X% against the year before. Over the period under review, imports showed a noticeable reduction. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, non-metal permanent magnet imports shrank to $X in 2023. In general, imports recorded a perceptible reduction. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

The countries with the highest levels of non-metal permanent magnet imports in 2023 were China (X tons), South Korea (X tons) and Japan (X tons), together resulting at X% of total import. It was distantly followed by Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons), together committing a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Japan ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

In terms of the main importing countries, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, remaining stable against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, leveling off in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Hong Kong SAR ($X per ton) and China ($X per ton), while Japan ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform