Southern Asia: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in Southern Asia

After two years of growth, the South Asian non-metal permanent magnet market decreased by X% to $X in 2023. The market value 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 level of consumption peaked at $X in 2022, and then fell modestly in the following year.

Non-Metal Permanent Magnet Production in Southern Asia

In value terms, non-metal permanent magnet production dropped slightly to $X in 2023 estimated in export price. The total output value 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 most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

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Non-Metal Permanent Magnet Exports

Exports in Southern Asia

In 2023, approx. X tons of non-metal permanent magnets were exported in Southern Asia; which is down by X% against 2022 figures. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2022, and then contracted sharply in the following year.

In value terms, non-metal permanent magnet exports declined notably to $X in 2023. In general, exports, however, enjoyed a temperate expansion. The pace of growth appeared the most rapid in 2022 with an increase of X%. As a result, the exports reached the peak of $X, and then fell sharply in the following year.

Exports by Country

The shipments of the one major exporters of non-metal permanent magnets, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the non-metal permanent magnets exports, with a CAGR of X% from 2012 to 2023. While the share of India (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest non-metal permanent magnet supplier in Southern Asia.

From 2012 to 2023, the average annual rate of growth in terms of value in India totaled X%.

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated a slight increase from 2012 to 2023: its price 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, non-metal permanent magnet export price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.

Non-Metal Permanent Magnet Imports

Imports in Southern Asia

In 2023, supplies from abroad of non-metal permanent magnets increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, imports recorded a strong expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2023 and is expected to retain growth in the near future.

In value terms, non-metal permanent magnet imports dropped slightly to $X in 2023. Over the period under review, imports saw resilient growth. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then fell in the following year.

Imports by Country

India prevails in imports structure, resulting at X tons, which was approx. X% of total imports in 2023. It was distantly followed by Pakistan (X tons), achieving a X% share of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2023. At the same time, Pakistan (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of India increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported non-metal permanent magnets in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total imports.

In India, non-metal permanent magnet imports expanded at an average annual rate of X% over the period from 2012-2023.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the import price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was India ($X per ton), while Pakistan stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%).

Source: IndexBox Platform