Permanent Magnets - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Permanent Magnets Market is accounted for $15.10 billion in 2017 and is expected to reach $36.89 billion by 2026 growing at a CAGR of 10.4% from 2017 to 2026. Development & Innovation of infrastructure, increasing demand for efficiency & miniaturization and increase of the end-use industries are some of the factors propelling the market growth. However, lack of quality control in developing countries and variation in costs of raw materials are hampering the market growth.
Permanent magnets play a major role in wind energy generation. As the energy is a scarce resource and demand for energy is continuously increasing, the renewable energy plays a crucial role. The property of permanent magnet to retain its magnetic property is widely used in several industries unless it is heated beyond its curie temperature. They are manufactured from magnetized materials that have their own magnetic property regardless of the non-existence of an external electric field such as cobalt, nickel, and iron.
Amongst Type, neodymium iron boron Magnets segment has acquired significant growth during the forecast period due to its growing demand from the wind turbines, brushless DC motors, MRI, magnetic separation,. The main features of neodymium iron boron magnet are high heat resistance, coercivity, and remanence.
Based on geography, Asia Pacific is the most dominant region in the market. The demand for permanent magnet is mainly determined by the emerging country China, which is the major manufacturing center for several industries such as automotive and electronics. South America to be the fastest-growing market for permanent magnet during the forecast period owing to the increased demand for permanent magnet in emerging countries.
Some of the key players in Permanent Magnets Market include Adams Magnetic Products Co., Inc., Arnold Magnetic Technologies, Bunting Magnetics Co., Daido Steel Co., Ltd., Electron Energy Corporation, Galaxy Magnets, Hitachi Metals, Ltd., Lynas Corporation Ltd., Molycorp Inc, Shin-ETSU Chemical Co., Ltd., TDK Corporation, Tengam Engineering, Inc., Yantai Shougang Magnetic Materials Inc., Magx America, Inc., JPMF Guangdong Co., Ltd, Ningbo Co-Star Materials Hi-Tech Co., Ltd., and Intermetallics Japan Corporation.
• Samarium Cobalt Magnets
• Neodymium Iron Boron Magnets
• Ferrite Magnets
• Ceramic Magnets
• Aluminium Nickel Cobalt (AlNiCo)
• Other Permanent Magnet
End Users Covered:
• General Industrial
• Medical Technology
• Environment & Energy
• Aerospace & Defense
• Consumer Electronics
• Energy Generation
• Other End Users
• North America
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• South America
Rest of South America
• Middle East & Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements