Growth Factors of Permanent Magnet Market
The permanent magnet market size was valued at USD 17.85 billion in 2018, and the market is now projected tgrow USD 34.70 billion in 2026, exhibiting a CAGR of 8.7% during the forecast period of 2024-2032.
The permanent magnet market was alsan essential subject that encountered critical challenges due tthe COVID-19 outbreak and the global supply chain breakup. Lower production activity and short-term stoppages impacted all customer segments including automotive, electronics, and renewable energy. But the demand for automobiles especially electric vehicles, renewable energy technologies and consumer electronics boosted the market with the starting recovery of most economic systems. The transition towards green energy solutions alsexpanded the demand for permanent magnets in wind turbines and electric motors still further. All in all, market growth is expected trise back tits starting levels post pandemic due tthe need for eco-friendly and efficient materials.
Consumer electronics are constantly becoming popular among customers, where permanent magnets play a critical role of attractions, repulsion, and energy conversion. These magnets are used in products like laptops, television, music system, computers, smartphone, etc. Growth in technology and changing customer tastes and preferences are alscontributing tthe increased requirement of such products. There is alsdata from some markets that show that as consumer electronics advance, sdoes the need for high permanent magnets for performance. Such trend poses immense opportunities for permanent magnet market growth in the future years.
The development of hard magnetic material is mostly influenced by the increasing demand for HEVs in the automobile industry. It is a fact that HEVs use 2kg t3kg of the costly rare earth magnets for its electric motor operation. These magnets are alsapplied in different car parts including; door locks, windscreen wiper blades, speakers, electric window control mechanisms. With increased use of HEVs in the market the need for magnets in automotive industry alsincreases. The car manufacture market, therefore, is projected tstrengthen the demand for hard magnets in the automobile manufacturing process.
Comprehensive Analysis of Permanent Magnet Market
The permanent magnet market growth is rising at an exponential rate due tits market segmentation. This market expansion rightly presents a detailed local analysis based on the forces such as supply and demand which define the industry. These segmentations are methodically segregated by type analysis, and by application analysis. By type analysis include neodymium iron boron (NdFeB), ferrite, samarium cobalt (SmCo), aluminum nickel cobalt (Alnico), and others. By application analysis include consumer electronics, automotive, general industrial, medical devices, energy, and others.
The Asia Pacific region lead the permanent magnet market share by benefitting a market size of 13.82 billion in 2018 due tincreasing demand for consumer electronics.
The top players in the markets have a central responsibility in the chemicals & advanced materials industry tbe sure of industrial prospectus development and testablish the market norms. These players include, Hitachi Metals, Ltd., Adams Magnetic Products Co., Inc., Shin-etsu Chemical Co., Ltd., Arnold Magnetic Technologies Corp., DaidSteel Co., Ltd., TDK Corporation, Electron Energy Corporation, Hangzhou Permanent Magnet Group, Anhui Earth-Panda Advance Magnetic Material Co., Ltd., Tengam Engineering, Inc., Bunting Magnetics Co., Alpha Magnet, Tridus Magnetics and Assemblies, NingbYunsheng Co. Ltd., Magnequench International, LLC, and Integrated Magnetics these market players provide a level-playing competitive landscape.
In April 2019, Bunting Magnetics introduced the ElectroMax Overband Magnet at Bauma, designed tmeet customer demands for lighter, more compact electroverband magnets.
Segmentation Table
ATTRIBUTE DETAILS
Study Period - 2015-2026
Base Year - 2018
Forecast Period - 2019-2026
Historical Period - 2015-2017
Unit - Value (USD billion) and Volume (Kiloton)
Segmentation By Type
- Neodymium Iron Boron (NdFeB)
- Ferrite
- Samarium Cobalt (SmCo)
- Aluminum Nickel Cobalt (Alnico)
- Others
- Consumer Electronics
- Automotive
- General Industrial
- Medical Devices
- Energy
- Others
- North America (the U.S., Canada, and Mexico)
- Europe (Germany, France, UK, Russia, and the Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Southeast Asia, and the Rest of Asia Pacific)
- South America (Brazil, Argentina, and the Rest of South America)
- Middle East& Africa (GCC, South Africa, and the Rest of Middle East & Africa)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 5. Global Permanent Magnet Market Analysis, Insights and Forecast, 2015-2026
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Neodymium Iron Boron (NdFeB)
- 5.2.2. Ferrite
- 5.2.3. Samarium Cobalt (SmCo)
- 5.2.4. Aluminum Nickel Cobalt (Alnico)
- 5.2.5. Others
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Consumer Electronics
- 5.3.2. Automotive
- 5.3.3. General Industrial
- 5.3.4. Medical Devices
- 5.3.5. Energy
- 5.3.6. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia pacific
- 5.4.4. South America
- 5.4.5. Middle East & Africa
- 6. North America Permanent Magnet Market Analysis, Insights and Forecast, 2015-2026
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Neodymium Iron Boron (NdFeB)
- 6.2.2. Ferrite
- 6.2.3. Samarium Cobalt (SmCo)
- 6.2.4. Aluminum Nickel Cobalt (Alnico)
- 6.2.5. Others
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Consumer Electronics
- 6.3.2. Automotive
- 6.3.3. General Industrial
- 6.3.4. Medical Devices
- 6.3.5. Energy
- 6.3.6. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
- 6.4.3. Mexico
- 7. Europe Permanent Magnet Market Analysis, Insights and Forecast, 2015-2026
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Neodymium Iron Boron (NdFeB)
- 7.2.2. Ferrite
- 7.2.3. Samarium Cobalt (SmCo)
- 7.2.4. Aluminum Nickel Cobalt (Alnico)
- 7.2.5. Others
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Consumer Electronics
- 7.3.2. Automotive
- 7.3.3. General Industrial
- 7.3.4. Medical Devices
- 7.3.5. Energy
- 7.3.6. Others
- 7.4. Market Analysis – By Country
- 7.4.1. Germany
- 7.4.2. France
- 7.4.3. UK
- 7.4.4. Russia
- 7.4.5. Rest of Europe
- 8. Asia Pacific Permanent Magnet Market Analysis, Insights and Forecast, 2015-2026
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Neodymium Iron Boron (NdFeB)
- 8.2.2. Ferrite
- 8.2.3. Samarium Cobalt (SmCo)
- 8.2.4. Aluminum Nickel Cobalt (Alnico)
- 8.2.5. Others
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Consumer Electronics
- 8.3.2. Automotive
- 8.3.3. General Industrial
- 8.3.4. Medical Devices
- 8.3.5. Energy
- 8.3.6. Others
- 8.4. Market Analysis – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. South Korea
- 8.4.5. Southeast Asia
- 8.4.6. Rest of Asia Pacific
- 9. South America Permanent Magnet Market Analysis, Insights and Forecast, 2015-2026
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Neodymium Iron Boron (NdFeB)
- 9.2.2. Ferrite
- 9.2.3. Samarium Cobalt (SmCo)
- 9.2.4. Aluminum Nickel Cobalt (Alnico)
- 9.2.5. Others
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Consumer Electronics
- 9.3.2. Automotive
- 9.3.3. General Industrial
- 9.3.4. Medical Devices
- 9.3.5. Energy
- 9.3.6. Others
- 9.4. Market Analysis – By Country
- 9.4.1. Brazil
- 9.4.2. Argentina
- 9.4.3. Rest of South America
- 10. Middle East & Africa Permanent Magnet Market Analysis, Insights and Forecast, 2015-2026
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Type
- 10.2.1. Neodymium Iron Boron (NdFeB)
- 10.2.2. Ferrite
- 10.2.3. Samarium Cobalt (SmCo)
- 10.2.4. Aluminum Nickel Cobalt (Alnico)
- 10.2.5. Others
- 10.3. Market Analysis, Insights and Forecast – By Application
- 10.3.1. Consumer Electronics
- 10.3.2. Automotive
- 10.3.3. General Industrial
- 10.3.4. Medical Devices
- 10.3.5. Energy
- 10.3.6. Others
- 10.4. Market Analysis – By Country
- 10.4.1. GCC
- 10.4.2. South Africa
- 10.4.3. Rest of Middle East & Africa
- 11. Competitive Analysis
- 11.1. Company Profiles
- 11.1.1. Hitachi Metals, Ltd.
- 11.1.1.1. Overview,
- 11.1.1.2. Products & services,
- 11.1.1.3. SWOT analysis,
- 11.1.1.4. Recent developments,
- 11.1.1.5. strategies,
- 11.1.1.6. financials (based on availability)
- 11.1.2. Adams Magnetic Products Co., Inc.
- 11.1.2.1. Overview,
- 11.1.2.2. Products & services,
- 11.1.2.3. SWOT analysis,
- 11.1.2.4. Recent developments,
- 11.1.2.5. strategies,
- 11.1.2.6. financials (based on availability)
- 11.1.3. Shin-etsu Chemical Co., Ltd.
- 11.1.3.1. Overview,
- 11.1.3.2. Products & services,
- 11.1.3.3. SWOT analysis,
- 11.1.3.4. Recent developments,
- 11.1.3.5. strategies,
- 11.1.3.6. financials (based on availability)
- 11.1.4. Arnold Magnetic Technologies Corp.
- 11.1.4.1. Overview,
- 11.1.4.2. Products & services,
- 11.1.4.3. SWOT analysis,
- 11.1.4.4. Recent developments,
- 11.1.4.5. strategies,
- 11.1.4.6. financials (based on availability)
- 11.1.5. Daido Steel Co., Ltd.
- 11.1.5.1. Overview,
- 11.1.5.2. Products & services,
- 11.1.5.3. SWOT analysis,
- 11.1.5.4. Recent developments,
- 11.1.5.5. strategies,
- 11.1.5.6. financials (based on availability)
- 11.1.6. TDK Corporation
- 11.1.6.1. Overview,
- 11.1.6.2. Products & services,
- 11.1.6.3. SWOT analysis,
- 11.1.6.4. Recent developments,
- 11.1.6.5. strategies,
- 11.1.6.6. financials (based on availability)
- 11.1.7. Electron Energy Corporation
- 11.1.7.1. Overview,
- 11.1.7.2. Products & services,
- 11.1.7.3. SWOT analysis,
- 11.1.7.4. Recent developments,
- 11.1.7.5. strategies,
- 11.1.7.6. financials (based on availability)
- 11.1.8. Hangzhou Permanent Magnet Group
- 11.1.8.1. Overview,
- 11.1.8.2. Products & services,
- 11.1.8.3. SWOT analysis,
- 11.1.8.4. Recent developments,
- 11.1.8.5. strategies,
- 11.1.8.6. financials (based on availability)
- 11.1.9. Anhui Earth-Panda Advance Magnetic Material Co., Ltd.
- 11.1.9.1. Overview,
- 11.1.9.2. Products & services,
- 11.1.9.3. SWOT analysis,
- 11.1.9.4. Recent developments,
- 11.1.9.5. strategies,
- 11.1.9.6. financials (based on availability)
- 11.1.10. Tengam Engineering, Inc.
- 11.1.10.1. Overview,
- 11.1.10.2. Products & services,
- 11.1.10.3. SWOT analysis,
- 11.1.10.4. Recent developments,
- 11.1.10.5. strategies,
- 11.1.10.6. financials (based on availability)
- 11.1.11. Bunting Magnetics Co.
- 11.1.11.1. Overview,
- 11.1.11.2. Products & services,
- 11.1.11.3. SWOT analysis,
- 11.1.11.4. Recent developments,
- 11.1.11.5. strategies,
- 11.1.11.6. financials (based on availability)
- 11.1.12. Alpha Magnet
- 11.1.12.1. Overview,
- 11.1.12.2. Products & services,
- 11.1.12.3. SWOT analysis,
- 11.1.12.4. Recent developments,
- 11.1.12.5. strategies,
- 11.1.12.6. financials (based on availability)
- 11.1.13. Tridus Magnetics and Assemblies
- 11.1.13.1. Overview,
- 11.1.13.2. Products & services,
- 11.1.13.3. SWOT analysis,
- 11.1.13.4. Recent developments,
- 11.1.13.5. strategies,
- 11.1.13.6. financials (based on availability)
- 11.1.14. Ningbo Yunsheng Co. Ltd.
- 11.1.14.1. Overview,
- 11.1.14.2. Products & services,
- 11.1.14.3. SWOT analysis,
- 11.1.14.4. Recent developments,
- 11.1.14.5. strategies,
- 11.1.14.6. financials (based on availability)
- 11.1.15. Magnequench International, LLC,
- 11.1.15.1. Overview,
- 11.1.15.2. Products & services,
- 11.1.15.3. SWOT analysis,
- 11.1.15.4. Recent developments,
- 11.1.15.5. strategies,
- 11.1.15.6. financials (based on availability)
- 11.1.16. Integrated Magnetics
- 11.1.16.1. Overview,
- 11.1.16.2. Products & services,
- 11.1.16.3. SWOT analysis,
- 11.1.16.4. Recent developments,
- 11.1.16.5. strategies,
- 11.1.16.6. financials (based on availability)
- 11.1.17. Other Key Players
- 11.1.17.1. Overview,
- 11.1.17.2. Products & services,
- 11.1.17.3. SWOT analysis,
- 11.1.17.4. Recent developments,
- 11.1.17.5. strategies,
- 11.1.17.6. financials (based on availability)
- 12. Strategic Recommendations
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