Global Permanent Magnets Market growing at a CAGR of 8.3% to reach USD 33.56 billion by 2025

The global permanent magnets market size is anticipated to reach USD 33.56 billion by 2025 according to a new report by Radiant Insights, Inc., expanding at a CAGR of 8.3% over the forecast period. Increasing use of ferrite magnets in electronic & electrical devices such as switching devices, transformers, inductors, and signal processing devices is expected to drive the demand over the next eight years. Properties of ferrites such as high magnetic permeability and low electrical conductivity, make them ideal for use in transformer applications.

Increasing demand for the product in automotive sector is expected to propel the market growth over the forecast period. The shifting consumer demand for lightweight and compact cars has boosted the need for high-performance magnets, which includes rare earth magnets like neodymium (NdFeB) & samarium (SmCo).

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Asia Pacific is the largest consumer of the product owing to the large scale production of motors for automotive, aerospace, and electronics industry. Further, developing economies such as India, Indonesia, and Thailand have a huge potential of market growth due to rapid development and rising disposable income. These factors are anticipated to increase the production of passenger vehicles, electronics, and wind power generators in these countries, thereby fueling the utilization of permanent magnets.

Moreover, shift of manufacturing plants from other locations to Asian countries, rising investments in automotive industry, and growth in the production of electric motors are propelling the market in the region. China and Japan are the major producers and consumers of the product globally.

The permanent magnet market is highly fragmented and competitive with numerous players involved in extending their manufacturing capacities. For instance, in May 2018, Adams Magnetic Products Co. added two production lines for flexible magnet fabrication in Elmhurst, IL and Carlsbad, CA respectively. This strategy was aimed at enhancing the company’s customer base and meeting the growing demand for flexible magnetic strips from printer manufacturers.

Further key findings from the report suggest:

• The NdFeB segment is anticipated to register a CAGR of 8.6%, in terms of revenue, from 2019 to 2025 owing to the increasing use of motors in electric vehicles, wind power generators, and energy storage systems

• Industrial segment accounted for a volume share of 20.9% in 2018 owing high demand from automation, industrial equipment, and oil & gas industries

• Energy segment is anticipated to grow at a CAGR of 2.7%, in terms of volume, over the forecast period owing to the rising utilization of wind power

• Middle East & Africa is expected to grow at a CAGR of 8.6%, in terms of revenue, from 2019 to 2025 due to the increasing production for passenger cars in the region

• The major players are adopting strategies like capacity expansion and new product development to cater to growing demand. For example, in June 2019, Eclipse Magnetics launched high intensity hopper magnet for the plastic processing industry.

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Table of Contents

Chapter 1 Permanent Magnets Market: Methodology and Scope
1.1 Market segmentation & scope
1.2 Research assumptions
1.3 Research methodology
1.4 Information procurement
1.5 Information analysis
1.6 Market formulation & data visualization
1.7 Data validation & publishing
1.8 List to Data Sources

Chapter 2 Executive Summary
2.1 Permanent magnets market outlook, 2018
2.2 Regional segment outlook, 2018
2.3 Material segment outlook, 2018
2.4 Application segment outlook, 2018

Chapter 3 Permanent Magnets Market Variables, Trends & Scope
3.1 Global permanent magnets market outlook
3.2 Penetration & growth prospect mapping
3.3 Permanent magnets market: Value chain analysis
3.3.1 Raw material trends
3.3.1.1 Major Raw materials analysis
3.3.1.1.1 Iron ore
3.3.1.1.2 Aluminum
3.3.1.1.3 Neodymium
3.3.1.1.4 Dysprosium
3.3.1.1.5 Samarium
3.3.1.2 Procurement best practices
3.3.2 Manufacturing trends and technology overview
3.3.2.1 Powder metallurgy
3.3.2.1.1 Transverse pressing
3.3.2.1.2 Isostatic pressing
3.4 Regulatory framework
3.5 Market dynamics
3.5.1 Market drivers
3.5.1.1 Growing wind energy sector
3.5.1.2 Growing demand for electronics
3.5.1.3 Growth of automotive industry
3.5.2 Market Restraint
3.5.2.1 SSD as a substitute for HDD
3.6 Business environment analysis tools
3.6.1 PESTEL analysis
3.6.2 Porter’s five forces analysis

Chapter 4 Permanent Magnet: Material Estimates & Trend Analysis
4.1 Permanent magnets market: Material movement analysis, 2018 & 2025
4.2 Ferrite
4.2.1 Market estimates and forecasts, 2014 – 2025 (Kilotons) (USD Million)
4.3 Neodymium Iron Boron (NdFeB)
4.3.1 Market estimates and forecasts, 2014 – 2025 (Kilotons) (USD Million)
4.4 Aluminum Nickel Cobalt (Alnico)
4.4.1 Market estimates and forecasts, 2014 – 2025 (Kilotons) (USD Million)
4.5 Samarium Cobalt (SmCo)
4.5.1 Market estimates and forecasts, 2014 – 2025 (Kilotons) (USD Million)

Chapter 5 Permanent Magnet: Application Estimates & Trend Analysis
5.1 Permanent magnets market: Application movement analysis, 2018 & 2025
5.2 Automotive
5.2.1 Market estimates and forecasts in Automotive, 2014 – 2025 (Kilotons) (USD Million)
5.3 Consumer goods & electronics
5.3.1 Market estimates and forecasts in Consumer goods & Electronics, 2014 – 2025 (Kilotons) (USD Million)
5.4 Industrial
5.4.1 Market estimates and forecasts in industrial applications, 2014 – 2025 (Kilotons) (USD Million)
5.5 Aerospace & Defense
5.5.1 Market estimates and forecasts in Aerospace & DEfense, 2014 – 2025 (Kilotons) (USD Million)
5.6 Energy
5.6.1 Market estimates and forecasts in energy, 2014 – 2025 (Kilotons) (USD Million)
5.7 Medical
5.7.1 Market estimates and forecasts in Medical, 2014 – 2025 (Kilotons) (USD Million)
5.8 Other applications
5.8.1 Market estimates and forecasts in other applications, 2014 – 2025 (Kilotons) (USD Million)

Continued…

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About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

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Published by daniellewis2504

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