Growth in the world market for permanent magnets (or permanent magnetic materials) will average 7.3% annually to $16.2 billion in 2019. Demand will be fueled by rising durable goods production and increases in the number of applications for magnets. An easing of global pricing pressures and raw material supplies due to the elimination of rare earth export quotas and taxes by the Chinese government will also help boost demand.
This report segments the magnet industry by product and market. Data is provided in millions of dollars. Total demand is also presented in metric tons at the country and regional levels.
• Ferrite (ceramic)
• Neodymium (also called NdFeB and neo)
• Samarium cobalt (SmCo)
• Alnico and other
Neodymium will remain the largest of these in dollar terms in 2019, accounting for 70% of total demand. It will also record the fastest gains because of the superior performance it can provide. Ferrite magnets will continue to dominate demand in metric tons because of their much lower cost.
Major markets include:
Electronics was the leading market in 2014, accounting for 37% of sales. The most rapid gains through 2019 are forecast for the automotive market, fueled by growth in production and the rising number of magnet-using devices in new vehicles.
World regions covered in the study include:
• North America
• Western Europe
• Central & South America
• Eastern Europe
The Africa/Mideast region will register the strongest advances, rising from an extremely small current market base. However, the Asia/Pacific region will remain considerably larger, with China alone accounting for 46% of the 2019 world dollar total.
Hundreds of manufacturers active in the industry, most of which are small. Among the leading producers are Advanced Technology & Materials, Beijing Zhong Ke San Huan, Daido Steel, Hengdian Group, Hitachi, MagX, Ningbo Yunsheng, OM Group, Shin-Etsu Chemical, and TDK.