In 2023, Japan's imports of electro and permanent magnets, and equipment using magnets stood at approximately 670 million USD. From 2024 to 2028, there is a forecasted steady increase in import value, reaching 740.98 million USD by 2028. Year-on-year increases are modest, averaging around 2% annually. The 5-year Compound Annual Growth Rate (CAGR) suggests a consistent annual growth, maintaining around 2% from 2024 to 2028.
Future trends to watch include advancements in technology that could boost demand for more sophisticated magnetic equipment, and potential changes in global trade policies that might impact import levels. Additionally, Japan's green energy initiatives and the proliferation of electric vehicles may further drive the need for advanced magnets.
