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Permanent Magnet Market

Permanent Magnet Market Size, Share & Segment 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), by Regions | Global Market Forecast 2022-2028

Report Id: SNS/C&M/1493 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Permanent Magnet Market Size was valued at USD 34.4 billion in 2021 and is expected to reach USD 65.76 billion by 2028, and grow at a CAGR of 9.7% over the forecast period 2022-2028. 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.

Permanent Magnet Market Revenue Graph

Market Dynamics

Driver:

  • Increasing demand for automobile applications.

Opportunity: 

  • Increasing demand for hybrid electric vehicles.

Restraints:

  • Fluctuating raw material costs.

Challenges:

  • 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.

Key players:

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.

Market Segmentation:

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

Permanent Magnet Market Segment Pie Chart

Regional Analysis:

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.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The 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

Permanent Magnet Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 34.4 Billion
Market Size by 2028 US$ 65.76 Billion
CAGR CAGR of 9.7% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
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. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

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

                8.5 Others

 

9.Global Permanent Magnet Market Segment, By End-Use:

                9.1 Consumer Electronics

                9.2 General Industrial

                9.3 Automotive

                9.4 Medical Technology

                9.5 Environment & Energy

                9.6 Aerospace & Defense

                9.7 Others

 

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.Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2    Canada

11.2.3    Mexico

11.3 Europe

11.3.1    Germany

11.3.2    UK

11.3.3    France

11.3.4    Italy

11.3.5    Spain

11.3.6    The Netherlands

11.3.7    Rest of Europe

11.4 Asia-Pacific

11.4.1    Japan

11.4.2    South Korea

11.4.3    China

11.4.4    India

11.4.5    Australia

11.4.6    Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1    Israel

11.5.2    UAE

11.5.3    South Africa

11.5.4    Rest

11.6 Latin America

11.6.1    Brazil

11.6.2    Argentina

11.6.3    Rest of Latin America

 

12.Company Profiles

12.1 TDK Corporation

12.1.1 Financial

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

13.1Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion

 

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Secondary Research

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