-- The global permanent magnet market size is estimated to reach USD 36.44 billion by 2025.Permanent magnets are made of magnetized materials and are capable of creating their own persistent magnetic fields. The magnetic field in permanent magnets is produced by their internal structure. Even if the magnetizing force is removed from the permanent magnets their magnetic properties are retained. The main function of the permanent magnets is to convert electrical energy to mechanical energy and vice versa in order to control the ions and 2tric motors and generators work on permanent magnets. Alcino magnets are often used in loudspeakers, amplifiers, telephones and radars. The magnets are widely used in generation of electricity across the globe. In addition to that, the magnets are broadly used in toys and various decorative items. Global Permanent Magnets Market has been experiencing an elevation in its growth rate over the past few years.
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Major players in the global permanent magnets market consists of Adams Magnetic Products Co., Inc., Arnold Magnetic Technologies, Daido Steel Co., Ltd., Earth-Panda Advance Magnetic Material Co., Ltd., Hitachi Metals Ltd., Ningbo Yunsheng Co., Ltd., Shin-Etsu Chemical Co., Ltd., TDK Corporation, Tokyo Denki Kagaku Kogyo K.K., and Yantai Zhenghai Magnetic Materials Co., Ltd.
The growth of the global Permanent magnets industry is being driven by numerous growth propelling aspects. With enormous rise in the global population has led to shift preference to the renewable sources of energy generation. The rising adoption of permanent magnets in energy generation plays a vital role in providing boost to the demand of these magnets across the globe. The rising acceptance of renewable energy sources across the developing region is a complementary factor providing momentum to the industry growth. Along with that, the use of permanent magnets in the consumer electronics has been gaining worldwide and is anticipated to propel the growth of the industry in coming years. However, the fluctuations in the prices of the raw materials used in the rates of rare earth magnets might have a negative impact on the industry growth in future. Nevertheless, with technological advancements and applicability in the high-tech drive systems in hybrid electric vehicles the industry is anticipated to offer lucrative growth opportunities.
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The permanent magnets attain further application in automotive sector owing to the numerous features they provide such as energy conversion, attraction, repulsion properties. With rising urbanization across the globe, the rise in the disposable income has been seen which in turn is causing change in lifestyle of people. This change has led to surge the total automotive production worldwide which in turn is providing boost to the overall growth of global Permanent Magnets Market. The growth for global permanent magnet market is likely to be enhanced with factors like modernized and developed infrastructure associated with rising demand for miniaturization and efficiency. The permanent magnets are widely used in consumer electronics like TV, Refrigerators, phones, etc. The exponential growth of consumer electronics sector across the globe is another aspect fueling permanent magnets market growth. The developments and increasing urbanization in the developing economies are likely to propel the growth of the industry in coming years.
Key segments of the global permanent magnets market
Product Overview, 2015-2025 (USD Million) (Kilo Tons)
• Ferrite
• Neo (NdFeB)
• SmCO
• Alnico
Application Overview, 2015-2025 (USD Million) (Kilo Tons)
• Automotive
• Electronics
• Energy generation
• Others
Regional Overview, 2015-2025 (USD Million) (Kilo Tons)
• North America
o U.S.
• Europe
o Germany
o UK
• Asia Pacific
o Japan
o China
• Rest of the World
Our report provides:
1. Detailed inquiry of market estimates for all segments
2. Thorough market analysis from the perspective of leading market participants
3. Strategic approach for new entrants
4. Market forecast by region over the next 10 years
5. Competitive analysis of current market trends
6. Company profiling with explicit strategy and economic development
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