Republic of Korea - Non-metal Permanent Magnets - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Non-Metal Permanent Magnet Market 2024
Non-Metal Permanent Magnet Market Size in Republic of Korea
In 2023, after two years of growth, there was significant decline in the South Korean non-metal permanent magnet market, when its value decreased by X% to $X. In general, consumption, however, showed prominent growth. As a result, consumption attained the peak level of $X, and then reduced remarkably in the following year.
Non-Metal Permanent Magnet Production in Republic of Korea
In value terms, non-metal permanent magnet production rose to $X in 2023 estimated in export price. Over the period under review, the total production indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The growth pace was the most rapid in 2015 when the production volume increased by X%. Non-metal permanent magnet production peaked at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.
Non-Metal Permanent Magnet Exports
Exports from Republic of Korea
In 2023, non-metal permanent magnet exports from South Korea skyrocketed to X tons, increasing by X% on the year before. In general, total exports indicated a tangible increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.
In value terms, non-metal permanent magnet exports rose sharply to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.
Exports by Country
China (X tons), Germany (X tons) and Italy (X tons) were the main destinations of non-metal permanent magnet exports from South Korea, with a combined X% share of total exports. Mexico, the Netherlands, the United States, India, Japan, Brazil, Hong Kong SAR, Vietnam, Hungary and Indonesia lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the biggest increases were recorded for Indonesia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, China ($X) remains the key foreign market for non-metal permanent magnets exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with an X% share of total exports. It was followed by Vietnam, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Vietnam (X% per year).
Export Prices by Country
The average non-metal permanent magnet export price stood at $X per ton in 2023, falling by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.
Non-Metal Permanent Magnet Imports
Imports into Republic of Korea
After two years of growth, overseas purchases of non-metal permanent magnets decreased by X% to X tons in 2023. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2022, and then shrank slightly in the following year.
In value terms, non-metal permanent magnet imports contracted to $X in 2023. Overall, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at $X in 2022, and then declined in the following year.
Imports by Country
In 2023, China (X tons) was the main non-metal permanent magnet supplier to South Korea, accounting for a X% share of total imports. It was followed by Vietnam (X tons), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of volume from China totaled X%.
In value terms, China ($X) constituted the largest supplier of non-metal permanent magnets to South Korea, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of value from China stood at X%.
Import Prices by Country
The average non-metal permanent magnet import price stood at $X per ton in 2023, which is down by X% against the previous year. In general, the import price, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while the price for Vietnam amounted to $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%).
Source: IndexBox Platform
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
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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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