February 2019: A study on “Global Permanent Magnet Market Size 2017” has been launched by Adroit Market Research. The market is segmented “By Product (Ferrite, Neo (NdFeB), SmCO, Alnico), By Application (Automotive, Electronics, Energy Generation, and Others), By Region and Forecast 2018 to 2025”. The study contains global permanent magnet market indicators in terms of value (USD Million) and volume (Kilo Tons) for a period ranging between 2015 and 2025. The study covers the global permanent magnet market trends 2018 including drivers, restraints, and opportunities. Furthermore, the study also encompasses value chain analysis, Porter’s five forces analysis, and vendor landscape analysis.
The global permanent magnet market size is estimated to reach USD 36.44 billion by 2025 driven by the increasing demand for the product from the automotive and electronic industries. Over the past few years, extraction and processing of rare earth materials have gained momentum in countries like China. However, the separation of minerals from ore is a complicated process and needs significant investment. Furthermore, fluctuating prices of rare earth materials and loopholes in supply and demand are hindering the global permanent magnets market growth.
More commonly occurring rare earth elements include neodymium, cerium, and lanthanum. Readily found rare earth materials consist of praseodymium and samarium. Heavy rare earth elements are less abundant and consist of europium, holmium, thulium, gadolinium, terbium, dysprosium, erbium, lutetium, and ytterbium. Among all, neodymium-Iron-Boron (NdFeB) holds the charm in the global permanent magnet industry. In NdFeB, neodymium, dysprosium, praseodymium, and terbium are used and are used majorly generators, automobiles, etc.
Need for clean and renewable energy is driving the global permanent magnets market demand for energy generation. In terms of revenue, energy generation is estimated to be the fastest growing segment with a CAGR of 10.9%. The superior performance of NdFeB magnets in comparison to other magnet types is driving their demand in the energy generation process. Wind turbines are the most practical and in-demand application of clean energy, hence, growing demand for wind turbines is anticipated to propel the use of rare earth permanent magnetic (REPM) materials in generators over the foreseeable future.
In terms of region, Asia Pacific is the major market revenue generator and is also estimated to be the fastest growing destination of permanent magnet products followed by the Americas. Growing demand from end-user industries, such as automobiles, consumer electronics, and energy equipment market is further expected to drive the demand for permanent magnet materials in the Asia Pacific.
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.
Key segments of the global permanent magnets market
Product Overview, 2015-2025 (USD Million) (Kilo Tons)
- Neo (NdFeB)
Application Overview, 2015-2025 (USD Million) (Kilo Tons)
- Energy generation
Regional Overview, 2015-2025 (USD Million) (Kilo Tons)
- North America
- Asia Pacific
- Rest of the World