Market Research Report
Permanent Magnet Market by Type (Neodymium Iron Boron Magnet, Ferrite Magnet, Samarium Cobalt Magnet), End-Use Industry (Consumer Electronics, General Industrial, Automotive, Medical Technology, Environment & Energy) - Global Forecast to 2021
|Published by||MarketsandMarkets||Product code||482438|
|Published||Content info||171 Pages
Delivery time: 1-2 business days
|Permanent Magnet Market by Type (Neodymium Iron Boron Magnet, Ferrite Magnet, Samarium Cobalt Magnet), End-Use Industry (Consumer Electronics, General Industrial, Automotive, Medical Technology, Environment & Energy) - Global Forecast to 2021|
|Published: March 24, 2017||Content info: 171 Pages||
The global permanent magnet market is projected to reach USD 22.67 billion by 2021, at a CAGR of 8.8% from 2016 to 2021. The growing trend of modernization and electrification to improve efficiency in various applications such as switches, lifts, and sensors is driving the use of permanent magnets globally. The factor restraining the growth of this market is the fluctuating cost of raw materials.
The market for neodymium iron boron magnet is projected to be the largest segment by type in the global permanent magnet market from 2016 to 2021. Neodymium iron boron magnet is the most widely used permanent magnet because of its enhanced properties such as high heat resistance, coercivity, and remanence. Moreover, the rising demand from the automotive and consumer electronics industries is also fueling the growth of neodymium iron boron magnet segment in the permanent magnet market.
Consumer electronics is expected to be the largest end-use industry segment of the global permanent magnet market from 2016 to 2021. The growing demand for consumer electronics products such as printers, fax machines, and scanners is fueling the growth of the permanent magnet market. Moreover, continuing economic development and increasing disposable income levels are also driving the global permanent magnet market in the consumer electronics industry.
The Asia-Pacific region is the largest permanent magnet market. Strong economic development and substantial investments in industries such as automotive, consumer electronics, and environment & energy are driving the demand for permanent magnet. With economic contraction and saturation in the European and North American markets, the demand is shifting to the Asia-Pacific region. Moreover, the low cost of production is also propelling the growth of permanent magnets in this region.
Breakdown of profiles of primary interviews for the report:
Some of the key companies profiled in this report are Hitachi Metals, Ltd. (Japan), Daido Steel Co., Ltd. (Japan), TDK Corporation (Japan), Shin-etsu Chemical Co., Ltd. (Japan), Arnold Magnetic Technologies (U.S.), Lynas Corporation Ltd. (Australia), Electron Energy Corporation (U.S.), Tengam Engineering, Inc. (U.S.), Adams Magnetic Products Co., Inc. (U.S.), and Bunting Magnetics Co. (U.S.), among others.
The report is segmented based on type, end-use industry, and region. The major types covered in this report are neodymium iron boron magnet, ferrite magnet, samarium cobalt magnet, alnico magnet, and others. The end-use industry includes consumer electronics, general industrial, automotive, medical technology, environment & energy, aerospace & defense, and others. The market is also segmented based on regions into Asia-Pacific, Europe, North America, South America, and Middle East & Africa.
This report covers the following studies which will benefit the client:
*Details might not be captured in case of unlisted companies.