Report Id: SNS/C&M/1493 | May 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Permanent Magnet Market Size was valued at USD 37.73 billion in 2022 and is expected to reach USD 79.14 billion by 2030, and grow at a CAGR of 9.7% over the forecast period 2023-2030. A permanent magnet is an object that generates a magnetic field that lasts without the need for external power. Magnetic fields can sometimes be found in naturally occurring substances. These materials are magnetised even more to improve the strength of their magnetic field, making them into functional permanent magnets. These magnets are widely utilised in both industrial and home applications. Permanent magnets are utilised in applications where their attracting and repelling forces are harnessed and turned to beneficial functions without the usage of external power. They are also employed in motors and generators to transform electrical force to mechanical force and vice versa. Permanent magnets have recently found new applications in healthcare and cathode ray tubes.
Increasing demand for automobile applications.
Increasing demand for hybrid electric vehicles.
Fluctuating raw material costs.
High research & development cost.
Impact of covid-19:
Because of the COVID-19 epidemic, the permanent magnet industry is likely to fall in 2020. This deadly virus has caused havoc all across the world, especially in Asia and Europe. To prevent the virus from spreading further, businesses and manufacturing facilities have shut down, and the government has halted building. As a result, the use of permanent magnets in various applications has decreased.
TDK Corporation, Electron Energy Corporation, Bunting Magnetics Co., Tengam Engineering, Inc., Ningbo Yunsheng Co. Ltd., Chengdu Galaxy Magnets Co Ltd., Eclipse Magnetics, Arnold Magnetic Technologies, Hitachi Metals, Ltd., Shin-Etsu Chemical Co Ltd., Adams Magnetic Products Co Inc., Yantai Shougang Magnetic Materials Inc., Goudsmit Magnetics, and other players.
Neodymium Iron Boron Magnets
Samarium Cobalt Magnets
Environment & Energy
Aerospace & Defense
By Power Range:
4.0 KW and Below
Between 4.0 and 22.0 kW
Between 22.0 and 75.0 kW
75.0 KW and above
In 2021, Asia Pacific had the biggest volumetric share of about 76.0 percent. The region is a global manufacturing centre. Automotive and electronic manufacturing are important parts of the region's manufacturing industry. China, Japan, and South Korea have all become major producers of computer hardware, such as hard disc drives, computer chips, and microprocessors. As a result, the demand for permanent magnets, which are widely employed by electronics and hardware manufacturers, has increased. Although Europe experienced a steep fall in 2020, it is expected to become the second-largest regional market by 2030. Because of the global economic slowdown and political concerns, such as Brexit, industrial production in Europe has grown at a slower rate in recent years.
The Asia Pacific region is expected to see significant growth in the permanent magnet industry. The expanding electronics and electrical industries in economies such as China, Japan, and South Korea, among others, are expected to boost demand for permanent magnets for a variety of applications.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 37.73 Billion|
|Market Size by 2030||US$ 79.14 Billion|
|CAGR||CAGR of 9.7% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Neodymium Iron Boron Magnets, Ferrite Magnets, Samarium Cobalt Magnets, Alnico Magnets, Others)
• By End-Use (Consumer Electronics, General Industrial, Automotive, Medical Technology, Environment & Energy, Aerospace & Defense, Others)
• By Power Range (4.0 KW and Below, Between 4.0 and 22.0 kW, Between 22.0 and 75.0 kW, 75.0 KW and above)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||TDK Corporation, Electron Energy Corporation, Bunting Magnetics Co., Tengam Engineering, Inc., Ningbo Yunsheng Co. Ltd., Chengdu Galaxy Magnets Co Ltd., Eclipse Magnetics, Arnold Magnetic Technologies, Hitachi Metals, Ltd., Shin-Etsu Chemical Co Ltd., Adams Magnetic Products Co Inc., Yantai Shougang Magnetic Materials Inc., Goudsmit Magnetics, and other players.|
|DRIVERS||• Increasing demand for automobile applications.|
|Restraints||• Increasing demand for hybrid electric vehicles.|
Frequently Asked Questions (FAQ) :
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Neodymium Iron Boron Magnets, Ferrite Magnets, Samarium Cobalt Magnets, Alnico Magnets and Others are the sub-segments of by type segment.
Ans: TDK Corporation (Japan), Electron Energy Corporation (US), Bunting Magnetics Co. (US), Tengam Engineering, Inc. (US), Ningbo Yunsheng Co. Ltd. (China), Chengdu Galaxy Magnets Co., Ltd. (China), Eclipse Magnetics (UK), Arnold Magnetic Technologies (US), Hitachi Metals, Ltd. (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), Adams Magnetic Products Co., Inc. (US), Yantai Shougang Magnetic Materials Inc. (China)and Goudsmit Magnetics (US) are the major key players of Permanent Magnet Market.
Ans: Because of the COVID-19 epidemic, the permanent magnet industry is likely to fall in 2020. This deadly virus has caused havoc all across the world, especially in Asia and Europe. To prevent the virus from spreading further, businesses and manufacturing facilities have shut down, and the government has halted building. As a result, the use of permanent magnets in various applications has decreased.
Ans: Global Permanent Magnet Market Size was valued at USD 34.4 billion in 2021, and expected to reach USD 65.76 billion by 2028, and grow at a CAGR of 9.7 % over the forecast period 2022-2028.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
188.8.131.52 United Kingdom
184.108.40.206 South Korea
220.127.116.11 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Permanent Magnet Market Segment, By Type:
8.1 Neodymium Iron Boron Magnets
8.2 Ferrite Magnets
8.3 Samarium Cobalt Magnets
8.4 Alnico Magnets
9.Global Permanent Magnet Market Segment, By End-Use:
9.1 Consumer Electronics
9.2 General Industrial
9.4 Medical Technology
9.5 Environment & Energy
9.6 Aerospace & Defense
10.Global Permanent Magnet Market Segment, by power range
10.1 4.0 KW and Below
10.2 Between 4.0 and 22.0 kW
10.3 Between 22.0 and 75.0 kW
10.4 75.0 KW and above
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12.1 TDK Corporation
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Electron Energy Corporation
12.3 Bunting Magnetics Co.
12.4 Tengam Engineering, Inc.
12.5 Ningbo Yunsheng Co. Ltd.
12.6 Chengdu Galaxy Magnets Co., Ltd.
12.7 Eclipse Magnetics
12.8 Arnold Magnetic Technologies
12.9 Hitachi Metals, Ltd.
12.10 Shin-Etsu Chemical Co., Ltd.
12.12 Adams Magnetic Products Co., Inc.
12.12 Yantai Shougang Magnetic Materials Inc.
12.13 Goudsmit Magnetics
13. Competitive Landscape
13.2 Market Share analysis
13.3 Recent Developments
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