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Global Permanent Magnets Industry Report: Regional Analysis; Key Segmentation and Scope; Industry Opportunities and Challenges; Market Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Trade Data Analysis; Industry Events and Developments; Competitive Landscape, 2022-2027

Permanent Magnets Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices


The global Permanent Magnets market reached a value of about 1101.36 KMT in 2021. The industry is projected to grow at a CAGR of around 4.0% in the forecast period of 2022-2027 to reach a value of about 1394.00 KMT by 2027.

The global Permanent Magnets industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The employment of the magnet in the automobile industry is propelling the market's expansion. The Asia Pacific is the highest category spender by region, driving the demand for the Permanent Magnets industry.

Industry Definition and Segmentation

An item that can maintain its magnetic properties even in the absence of a magnetising force is called a permanent magnet. The intrinsic composition of the material itself produces the magnetic field. They have low permeability and are made from specific alloys containing iron, nickel, and cobalt and are employed in many commercial and industrial sectors, including the production of loudspeakers, motors, and HVAC systems, among other things. The Permanent Magnets industry report comprises segments by Type (Ferrite, Neodymium Iron Boron, Aluminum Nickel Cobalt, Samarium Cobalt), End-Use (Computer Hard Disk Drives (HDD), CD, DVD, Hybrid Electric Vehicles, Electric Bicycles, Heating, Ventilating and Air Conditioners (HVAC), Wind Turbines, Others) and Region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).

The Asia Pacific Region is Driving the Growth of the Industry.

The Asia Pacific carries the greatest stake in the market. China accounts for a significant stake in the industry and is the most prominent user and producer of all permanent magnets. This can be ascribed to the region's accessibility to rare earth metals. The need for permanent magnets was further boosted by the growing investments in constructing renewable energy production facilities.

The market is being driven by the commodity's employment in the automobile industry. The product is used in motors, actuators, sensors, and suspension systems to enhance vehicle control systems which are propelling the industry forward. In addition, the market is witnessing an increase in consumer demand for passenger cars because of increased disposable incomes and rising living standards. Furthermore, with growing consumer demand for fuel and energy-efficient automobiles, the development of hybrid and electric vehicles is likely to boost sales in the sector.

Best Procurement Practices

The global Permanent Magnets industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Permanent Magnets regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

The four basic kinds of permanent magnets are ferrite magnets, samarium cobalt magnets, alnico magnets, and neodymium iron boron magnets. The atom's nucleus and its electrons are found inside atoms and crystals. The nuclei and the electrons include magnetic fields built into the particles themselves. The nucleus and the electrons work like tiny magnets, like spinning bits of electric charge. As they move around the nucleus, the orbits of the electrons also produce a magnetic field. The whole nuclear spin, electron spin, and rotations comprise the magnetic fields of permanent magnets. Many materials have no persistent magnetism because the magnetic fields point in different random directions and balance one another out.

Properties of the Magnet, Further Driving the Procurement of Permanent Magnets

The industry is aided by the rising demand for permanent magnets in applications to produce renewable energy. They are increasingly utilised in vital renewable energy production components, including hybrid regenerative motors and wind turbine generators. The government's increasing emphasis on boosting the use of renewable energy sources like wind and solar energy and lowering reliance on fossil fuel-based energy sources. The developments in information and communication technology, rising consumer demand for permanent magnet-using household appliances, increased use of these materials in medical devices, and increased global infrastructure building activities are crucial factors furthering the industry's expansion. Also, with the fast digitalisation and rising consumer demand for digital gadgets, it is projected that the increased application of permanent magnets in consumer electronics will be advantageous for market growth.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Permanent Magnets Industry Report

  • Adams Magnetic Products Co.
  • Arnold Magnetic Technologies
  • The Bunting® Magnetics Co.
  • Advanced Technology & Materials Co., Ltd. (AT&M)
  • Hitachi Metals, Ltd.

Market Landscape

Regional concentration and market fragmentation are characteristics of the global marketplace. Due to China's large-scale rare earth metal mines, numerous small, medium, and large-scale factories are situated nearby. To maintain their position in the permanent magnet market, these firms are implementing various inorganic and organic methods. The investigation covers an in-depth competitive analysis of these significant market competitors with their company profiles, latest developments, and essential business strategies. Leading players adopt novel strategies, including cutting-edge marketing strategies, technology developments, mergers, and acquisitions. Manufacturers mainly concentrate on creating or designing new products with improved efficiency to meet the demands of high-end performance industries, including military, aerospace, and automation.

Key Initiatives by Companies

  • Arnold Magnetic Technologies acquired Ramco Electric Motors, Inc. in March 2021. Arnold's strategic goals to provide novel materials and engineering solutions that enable clients to create next-generation technologies are furthered by this purchase.
  • Intending to sell its TimkenSteel (Shanghai) Corporation Limited ("TSS") subsidiary in China for around US$7 Mn in cash, TimkenSteel Corp. declared a buying contract with Daido Steel (Shanghai) Co., Ltd. ("Daido") in April 2021.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Permanent Magnet Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Permanent Magnet Historical Market (2017-2021) 
    8.3    Global Permanent Magnet Market Forecast (2022-2027)
    8.4    Global Permanent Magnet Market by Type
        8.4.1    Ferrite
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Neodymium Iron Boron
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Aluminum Nickel Cobalt
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
        8.4.4    Samarium Cobalt
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2017-2021)
            8.4.4.3    Forecast Trend (2022-2027)
    8.5    Global Permanent Magnet Market by End-Use
        8.5.1    Computer Hard Disk Drives (HDD), CD, DVD
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Hybrid Electric Vehicles
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Electric Bicycles
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Heating, Ventilating and Air Conditioners (HVAC)
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2017-2021)
            8.5.4.3    Forecast Trend (2022-2027)
        8.5.5    Wind Turbines
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2017-2021)
            8.5.5.3    Forecast Trend (2022-2027)
        8.5.6    Others
    8.6    Global Permanent Magnet Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (HS Code: 850511, 850519)

    12.1    Major Exporting Countries:
        12.1.1    By Value
        12.1.2    By Volume
    12.2    Major Importing Countries
        12.2.1    By Value
        12.2.2    By Volume
13    Competitive Landscape
    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    Adams Magnetic Products Co.
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Arnold Magnetic Technologies
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3    The Bunting® Magnetics Co.
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    Advanced Technology & Materials Co., Ltd. (AT&M)
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    Hitachi Metals, Ltd.
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    Industrial Magnetics, Inc.
            13.2.6.1    Company Overview
            13.2.6.2    Product Portfolio
            13.2.6.3    Demographic Reach and Achievements
            13.2.6.4    Certifications
        13.2.7    MASTER MAGNETICS, Inc.
            13.2.7.1    Company Overview
            13.2.7.2    Product Portfolio
            13.2.7.3    Demographic Reach and Achievements
            13.2.7.4    Certifications
        13.2.8    Others
14    Industry Events and Developments

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Key Questions Answered in the Report

The global Permanent Magnets market size was valued at 1101.36 KMT in 2021.

In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 4.0%.

The significant demand for renewable energy is one of the essential drivers of the Permanent Magnets market growth.

Adams Magnetic Products Co., Arnold Magnetic Technologies, The Bunting® Magnetics Co., Advanced Technology & Materials Co., Ltd. (AT&M), Hitachi Metals, Ltd., Industrial Magnetics, Inc., MASTER MAGNETICS, Inc., and Others are some of the major players in the market.

The Asia Pacific region of the Permanent Magnets industry holds a significant share in the market.

Analyst Review

The global Permanent Magnets market attained a value of 1101.36 KMT in 2021, driven by the commodity's employment in the automobile industry. Aided by the rising demand for permanent magnets in applications to produce renewable energy, the government's increasing emphasis on boosting the use of renewable energy sources like wind and solar power, and lowering reliance on fossil fuel-based energy sources, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 4.0%. The market is projected to reach 1394.00 KMT by 2027. Some of the leading players in the industry are Adams Magnetic Products Co., Arnold Magnetic Technologies, The Bunting® Magnetics Co., Advanced Technology & Materials Co., Ltd. (AT&M), Hitachi Metals, Ltd., Industrial Magnetics, Inc., MASTER MAGNETICS, Inc., and Others.

Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses a combination of cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate and actionable and help them remain ahead of their competition.

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