Global Permanent Magnet Market, By Type (Neodymium Iron Boron Magnet, Ferrite Magnet, Samarium Cobalt Magnet, Alnico Magnet, Others), End Use (Industrial, Medical Technology, Aerospace and Defence, Consumer Electronics, Automotive, Environment and Energy, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
The permanent magnet market is expected to witness market growth at a rate of 7.35% in the forecast period of 2021 to 2028. Data Bridge Market Research report on permanent magnet market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the demand for the product from the e nude industries is escalating the growth of permanent magnet market.
Permanent magnets refer to the type of magnetic materials where the magnetic field generally gets created by the internal structure of the materials themselves. These magnets are manufactured from special alloys such as nickel, cobalt and iron among several other rare-earth metals, and minerals including lodestone. These tend to generate a persistent magnetic field without requiring any external source of magnetism or electrical power.
The expansion of automotive industry across the globe, especially in developing nations acts as one of the major factors driving the growth of permanent magnet market. The rise in the demand for the permanent magnet in various industries, such as consumer goods and electronics industry, where these products are highly utilized in numerous applications, including production of smartphones and personal electronics and the high production rate of consumer electronics, accelerate the market growth. The increase in development and modernization of infrastructure, rise in demand for efficiency and miniaturization and surge in initiatives taken by associations and regulatory bodies further influence the market. Additionally, growth of the end-use industries, urbanization and industrialization and research and development activities positively affect the permanent magnet market. Furthermore, technological advancements and increase in demand for permanent magnets in hybrid electric vehicle extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, requirement of high investment in the research and development activities and fluctuations in the raw material costs are expected to obstruct the market growth. Lack of quality control in developing countries is projected to challenge the permanent magnet market in the forecast period of 2021-2028.
This permanent magnet market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on permanent magnet market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Permanent Magnet Market Scope and Market Size
The permanent magnet market is segmented on the basis of type and end use. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the permanent magnet market is segmented into neodymium iron boron magnet, ferrite magnet, samarium cobalt magnet, alnico magnet and others.
- On the basis of end use, the permanent magnet market is segmented into industrial, medical technology, aerospace and defense, consumer electronics, automotive, environment and energy and others.
Global Permanent Magnet Market Country Level Analysis
The permanent magnet market is analyzed and market size, volume information is provided by country, type and end use as referenced above.
The countries covered in the globally permanent magnet market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the permanent magnet market due to the developments in the end-use industries such as renewable, electronics, medical, and automotive and large-scale production of electronics, electric vehicles, and medical equipment within the region. Europe is expected to witness significant growth during the forecast period of 2021 to 2028 because of the resumption in manufacturing operations post lockdown situation in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Permanent Magnet Market Share Analysis
The permanent magnet market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to permanent magnet market.
The major players covered in the permanent magnet market reports are Hitachi Metals, Ltd, Daido Steel Co.ltd, Magnequench International, LLc, Shin-Etsu Chemicals Co, TDK Corporation, Zhejiang Kaiven Magnet Co ltd, Ningbo Vastsky Magnet, Tengam, Ak Steel Corporation, Sin-Etsu Chemicals Co, Electron Energy Corporation, Steward Advanced Materials LLC, Toshiba Materials Co,ltd, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.