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Philippines - Permanent Magnets - Market Analysis, Forecast, Size, Trends and Insights
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Permanent Magnet Market Size in the Philippines
The Philippine permanent magnet market surged to $X in 2023, picking up by X% against the previous year. Over the period under review, consumption saw a strong increase. Permanent magnet consumption peaked in 2023 and is likely to see steady growth in years to come.
Permanent Magnet Production in the Philippines
In value terms, permanent magnet production skyrocketed to $X in 2023 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.
Permanent Magnet Exports
Exports from the Philippines
In 2023, after two years of growth, there was significant decline in overseas shipments of permanent magnets, when their volume decreased by X% to X tons. Over the period under review, exports, however, posted a notable increase. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The exports peaked at X tons in 2022, and then declined notably in the following year.
In value terms, permanent magnet exports declined notably to $X in 2023. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.
Exports by Country
Japan (X tons) was the main destination for permanent magnet exports from the Philippines, accounting for a X% share of total exports. Moreover, permanent magnet exports to Japan exceeded the volume sent to the second major destination, South Korea (X tons), twofold. The third position in this ranking was taken by Hong Kong SAR (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Hong Kong SAR (X% per year).
In value terms, Japan ($X), South Korea ($X) and China ($X) constituted the largest markets for permanent magnet exported from the Philippines worldwide, together comprising X% of total exports. Hong Kong SAR, the United States, Thailand and Vietnam lagged somewhat behind, together comprising a further X%.
In terms of the main countries of destination, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the average permanent magnet export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Hong Kong SAR ($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 Thailand (X%), while the prices for the other major destinations experienced a decline.
Permanent Magnet Imports
Imports into the Philippines
In 2023, overseas purchases of permanent magnets decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2019 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 fell notably in the following year.
In value terms, permanent magnet imports reduced rapidly to $X in 2023. In general, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2022, and then reduced remarkably in the following year.
Imports by Country
Japan (X tons), Vietnam (X tons) and China (X tons) were the main suppliers of permanent magnet imports to the Philippines, together accounting for X% of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Japan ($X), Vietnam ($X) and China ($X) were the largest permanent magnet suppliers to the Philippines, with a combined X% share of total imports.
Among the main suppliers, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average permanent magnet import price stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the import price, however, showed strong growth. The pace of growth appeared the most rapid in 2014 an increase of X%. The import price peaked at $X per ton in 2022, and then declined in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Singapore ($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 prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the permanent magnet market in the Philippines. 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:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- 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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