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.
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 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.
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.
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.
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.
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.
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
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
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
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2017-2021)
220.127.116.11 Forecast Trend (2022-2027)
8.4.2 Neodymium Iron Boron
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2017-2021)
126.96.36.199 Forecast Trend (2022-2027)
8.4.3 Aluminum Nickel Cobalt
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2017-2021)
220.127.116.11 Forecast Trend (2022-2027)
8.4.4 Samarium Cobalt
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2017-2021)
126.96.36.199 Forecast Trend (2022-2027)
8.5 Global Permanent Magnet Market by End-Use
8.5.1 Computer Hard Disk Drives (HDD), CD, DVD
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2017-2021)
220.127.116.11 Forecast Trend (2022-2027)
8.5.2 Hybrid Electric Vehicles
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2017-2021)
126.96.36.199 Forecast Trend (2022-2027)
8.5.3 Electric Bicycles
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2017-2021)
220.127.116.11 Forecast Trend (2022-2027)
8.5.4 Heating, Ventilating and Air Conditioners (HVAC)
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2017-2021)
126.96.36.199 Forecast Trend (2022-2027)
8.5.5 Wind Turbines
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2017-2021)
220.127.116.11 Forecast Trend (2022-2027)
8.6 Global Permanent Magnet Market by Region
8.6.1 Market Share
18.104.22.168 North America
22.214.171.124 Asia Pacific
126.96.36.199 Latin America
188.8.131.52 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
184.108.40.206 United States of America
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
220.127.116.11 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
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
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
10 Market Dynamics
10.1 SWOT Analysis
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.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
13.2.2 Arnold Magnetic Technologies
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
13.2.3 The Bunting® Magnetics Co.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
13.2.4 Advanced Technology & Materials Co., Ltd. (AT&M)
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
13.2.5 Hitachi Metals, Ltd.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
13.2.6 Industrial Magnetics, Inc.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
13.2.7 MASTER MAGNETICS, Inc.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
14 Industry Events and Developments
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.
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.
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