The global Rare Earth Magnet market reached a value of about USD 13191.51 million in 2021. The industry is projected to grow at a CAGR of around 7.1% in the forecast period of 2022-2027 to reach a value of about USD 19908.17 million by 2027.
The global Rare Earth Magnet industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. Increasing electronic goods sales are the primary factor driving the market's expansion. The Asia Pacific is the highest category spender by region, driving the demand for the Rare Earth Magnet industry.
Rare-earth magnets are a type of permanent magnet manufactured from rare-earth element alloys. They have powerful magnetic fields that aid in product downsizing, product performance, and manufacturing cost reduction. Neodymium, samarium, and dysprosium alloys are examples of rare earth element alloys. They are used in the production of motors, separators, printers, microphones, automobile starters, acoustic transducers, computer discs, etc. The Rare Earth Magnet industry report comprises segments by Magnet Type (NdFeB Magnets (Automobile, Electronics, Power Generators, Medical Industry, Wind Power, Others), SmCo Magnets (Defence, Aerospace, Electronics, Medical Devices, Others) and Region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).
The Asia Pacific holds a significant share in the industry as China's rare earth magnet sector is growing profitably because of stringent environmental regulations, supporting government energy-saving programmes, and increased customer awareness of product quality. Furthermore, the new technology significantly reduces maintenance costs, which is why many buyers have well received it from various industries. Because of their low manufacturing costs and rapid industrialisation, manufacturers invest in Asian economies such as India and China.
The industry is being driven by the expanding sales of electronic products such as mobile phones, tablets, TVs, and computers, due to the rising consumer spending and increasing internet penetration worldwide. In addition, the expansion in the automotive sector due to technological advancements and the sale of electric and hybrid cars is expanding globally due to rising customer awareness and government efforts and programmes, driving the rare earth elements market ahead. Furthermore, due to crucial factors like increasing industrialisation, population growth, and increased need for power, the industry is expected to witness growth.
The global Rare Earth Magnet industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Rare Earth Magnet regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Neodymium magnets (neodymium iron boron, neo, or rare earth magnets) are typically produced through a powdered metallurgical method. Neodymium and iron boron powder are developed in micron size in an inert gas environment, then crammed in a rigid steel or rubber mould. Isostatic pressing transpires when a fluid's crushed rubber mould on both sides. The rubber mould will only make vast blocks of Neodymium magnet alloy, whereas the steel moulds will produce forms comparable to the result.
An increase is aiding the market in demand from various new industries, including electronics, medical devices, and actuator manufacturing. Aside from that, market development is expected to be boosted by constructing wind energy-producing facilities due to the rising population and need for power. Furthermore, the widening application scope of magnets in HEVs and an increase in demand for higher-performing cars are projected to help the industry in the coming years. In the future, expanded research programs to examine the possibility of neodymium magnets for analytical and curative functions are estimated to increase 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.
These businesses utilise various strategies to increase market income, including product launches, collaborations, technology advances, agreements, and partnerships.
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 Rare Earth Magnet Market Analysis
8.1 Key Industry Highlights
8.2 Global Rare Earth Magnet Historical Market (2017-2021)
8.3 Global Rare Earth Magnet Market Forecast (2022-2027)
8.4 Global Rare Earth Magnet Market by Magnet Type
8.4.1 NdFeB Magnets
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
8.4.2 SmCo Magnets
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
8.5 Global Rare Earth Magnet Market by Application
8.5.1 NdFeB Magnets
184.108.40.206.1 Market Share
220.127.116.11.2 Historical Trend (2017-2021)
18.104.22.168.3 Forecast Trend (2022-2027)
22.214.171.124.1 Market Share
126.96.36.199.2 Historical Trend (2017-2021)
188.8.131.52.3 Forecast Trend (2022-2027)
184.108.40.206 Power Generators
220.127.116.11.1 Market Share
18.104.22.168.2 Historical Trend (2017-2021)
22.214.171.124.3 Forecast Trend (2022-2027)
126.96.36.199 Medical Industry
188.8.131.52.1 Market Share
184.108.40.206.2 Historical Trend (2017-2021)
220.127.116.11.3 Forecast Trend (2022-2027)
18.104.22.168 Wind Power
22.214.171.124.1 Market Share
126.96.36.199.2 Historical Trend (2017-2021)
188.8.131.52.3 Forecast Trend (2022-2027)
8.5.2 SmCo Magnets
184.108.40.206.1 Market Share
220.127.116.11.2 Historical Trend (2017-2021)
18.104.22.168.3 Forecast Trend (2022-2027)
22.214.171.124.1 Market Share
126.96.36.199.2 Historical Trend (2017-2021)
188.8.131.52.3 Forecast Trend (2022-2027)
184.108.40.206.1 Market Share
220.127.116.11.2 Historical Trend (2017-2021)
18.104.22.168.3 Forecast Trend (2022-2027)
22.214.171.124 Medical Devices
126.96.36.199.1 Market Share
188.8.131.52.2 Historical Trend (2017-2021)
184.108.40.206.3 Forecast Trend (2022-2027)
8.6 Global Rare Earth Magnet Market by Region
8.6.1 Market Share
220.127.116.11 United States
9 Regional Analysis
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.4 United States
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers 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 Manufacturing Process
12.2 Detailed Process Flow
12.3 Operations Involved
13 Project Details and Cost Analysis
13.1 Land, Location and Site Development
13.3 Plant Layout
13.4 Plant Machinery
13.5 Raw Material Requirement
13.10 Other Capital Investment
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Hitachi Metals, Ltd.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
14.2.2 Shin-Etsu Chemical Co., Ltd
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
14.2.3 Arnold Magnetic Technologies
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
14.2.4 Bunting Magnetics Co.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
15 Industry Events and Developments
The global Rare Earth Magnet market size was valued at USD 13191.51 million in 2021.
In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 7.1%.
The significant demand for the product in a wide range of industries is one of the essential drivers of the Rare Earth Magnet market growth.
Hitachi Metals, Ltd., Shin-Etsu Chemical Co., Ltd, Arnold Magnetic Technologies, Bunting Magnetics Co., and others are some of the key players in the market.
The Asia Pacific region of the Rare Earth Magnet industry holds a significant share in the market.
The global Rare Earth Magnet market attained a value of USD 13191.51 million in 2021, driven by the expanding sales of electronic products such as mobile phones, tablets, TVs, and computers, due to the rising consumer spending and increasing internet penetration throughout the world. Furthermore, the industry is anticipated to witness growth due to crucial factors like rising industrialisation, population growth, and increased need for power. Aided by an increase in demand from various new industries, including electronics, medical devices, and actuator manufacture, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 7.1%. The market is projected to reach USD 19908.17 million by 2027. Some leading players in the industry are Hitachi Metals, Ltd., Shin-Etsu Chemical Co., Ltd, Arnold Magnetic Technologies, Bunting Magnetics Co., and Others.
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