Permanent magnets are magnets that retain their magnetic properties even after the removal of magnetizing force. The internal structure of the material generates the magnetic field in the permanent magnets. Their function is to convert electrical energy to mechanical energy and vice versa, to control electrons or ions and use the attraction or repulsion between magnets. Many generators, electric motors, measuring instruments work on permanent magnets. Alnico magnets make use in radars, telephones, amplifiers and loudspeakers.
MARKET DYNAMICS
The permanent magnet market is anticipated to grow in the forecast period owing to driving factors such as developed and modernized infrastructure segment coupled with increasing demands for efficiency and miniaturization. Rising applications in consumer electronics and developments in automotive engineering such as internal combustion and EV powertrain technologies further fuel the permanent magnet market growth. However, fluctuation in raw material cost and lack of quality control in developing countries hampers the market growth. On the other hand, the permanent magnet market offers significant growth opportunities with applicability in the advanced drive systems in hybrid electric vehicles and technological advancements.
MARKET SCOPE
The "Global Permanent Magnet Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of permanent magnet market with detailed market segmentation by type, end-use industry and geography. The global permanent magnet market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading permanent magnet market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global permanent magnet market is segmented on the basis of type and end-use industry. Based on type, the market is segmented as neodymium iron boron magnets, ferrite magnets, samarium cobalt magnets, alnico magnets and others. On the basis of the end-use industry, the market is segmented as automotive, electronics, industrial, energy, aerospace, medical and others.
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REGIONAL FRAMEWORKThe report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global permanent magnet market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The permanent magnet market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting permanent magnet market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors affecting the permanent magnet market in these regions.
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MARKET PLAYERSThe reports cover key developments in the permanent magnet market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from permanent magnet market are anticipated to lucrative growth opportunities in the future with the rising demand for permanent magnet in the global market. Below mentioned is the list of few companies engaged in the permanent magnet market.
The report also includes the profiles of key permanent magnet companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
-Anhui Earth-Panda Advance Magnetic Material Co., Ltd
-Goudsmit Magnetics Group B.V.
-Hangzhou Permanent Magnet Group., Ltd
-Hitachi Metals, Ltd.
-Magnequench International, LLC
-Ningbo Yunsheng Co., Ltd.
-Ninggang Permanent Magnetic Materials Co., Ltd.
-Shin-Etsu Chemical Co., Ltd.
-TDK Corporation
-Thomas & Skinner, Inc.
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