The global permanent magnet market size is estimated to reach USD 36.44 billion by 2025 driven by the increasing demand for the product from the automotive and electronic industries. Over the past few years, extraction and processing of rare earth materials have gained momentum in countries like China. However, the separation of minerals from ore is a complicated process and needs significant investment. Furthermore, fluctuating prices of rare earth materials and loopholes in supply and demand are hindering the global permanent magnets market growth.
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Market Segment by Companies, this report covers:
- Adams Magnetic Products Co.Inc.
- Arnold Magnetic Technologies
- Daido Steel Co. Ltd.
- Earth-Panda Advance Magnetic Material Co., Ltd.
- Hitachi Metals Ltd.
- Ningbo Yunsheng Co., Ltd.
- Shin-Etsu Chemical Co., Ltd.
- TDK Corporation
- Tokyo Denki Kagaku Kogyo K.K.
- Yantai Zhenghai Magnetic Materials Co., Ltd.
More commonly occurring rare earth elements include neodymium, cerium, and lanthanum. Readily found rare earth materials consist of praseodymium and samarium. Heavy rare earth elements are less abundant and consist of europium, holmium, thulium, gadolinium, terbium, dysprosium, erbium, lutetium, and ytterbium. Among all, neodymium-Iron-Boron (NdFeB) holds the charm in the global permanent magnet industry. In NdFeB, neodymium, dysprosium, praseodymium, and terbium are used and are used majorly generators, automobiles, etc.
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What does the report include?
- The global permanent magnets market study provides an in-depth analysis of the various type and application.
- Drivers, restraints and opportunities for the market have been covered in the study
- The study covers the different aspects of the value chain, Porters Five Forces, and vendor landscape analysis
- The global permanent magnets market report covers qualitative and quantitative analysis of the market segmented on the basis of product type and application
- Historical, current and forecast market data is provided for all the segments on a country basis
- The study includes detailed profiles of key participants of the market based on product offerings, geographical presence, financial performance and recent initiative
Need for clean and renewable energy is driving the global permanent magnets market demand for energy generation. In terms of revenue, energy generation is estimated to be the fastest growing segment with a CAGR of 10.9%. The superior performance of NdFeB magnets in comparison to other magnet types is driving their demand in the energy generation process. Wind turbines are the most practical and in-demand application of clean energy, hence, growing demand for wind turbines is anticipated to propel the use of rare earth permanent magnetic (REPM) materials in generators over the foreseeable future.
In terms of region, Asia Pacific is the major market revenue generator and is also estimated to be the fastest growing destination of permanent magnet products followed by the Americas. Growing demand from end-user industries, such as automobiles, consumer electronics, and energy equipment market is further expected to drive the demand for permanent magnet materials in the Asia Pacific.
Major players in the global permanent magnets market consists of Adams Magnetic Products Co., Inc., Arnold Magnetic Technologies, Daido Steel Co., Ltd., Earth-Panda Advance Magnetic Material Co., Ltd., Hitachi Metals Ltd., Ningbo Yunsheng Co., Ltd., Shin-Etsu Chemical Co., Ltd., TDK Corporation, Tokyo Denki Kagaku Kogyo K.K., and Yantai Zhenghai Magnetic Materials Co., Ltd.
Key segments of the global permanent magnets market
Product Overview, 2015-2025 (USD Million) (Kilo Tons)
- Neo (NdFeB)
Application Overview, 2015-2025 (USD Million) (Kilo Tons)
- Energy generation
Regional Overview, 2015-2025 (USD Million) (Kilo Tons)
- North America
- Asia Pacific
- Rest of the World
Some Points from TOC:
- Executive Summary
- Research Methodology
- Market Outlook
- Global Permanent Magnets Market Overview, By Product
- Global Permanent Magnets Market Overview, By Application
- Global Permanent Magnets Market Overview, By Region
- Company Profiles
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