MARKET INTRODUCTION
Permanent rare earth magnets are manufactured from a magnetized material, which creates its individual persistent magnetic field. These comprise alloys of rare earth elements such as samarium, neodymium, and dysprosium. Unlike conventional temporary magnets such as electromagnets, permanent rare earth magnets do not lose their magnetic property unless they are heated above the Curie temperature. These magnets are industrially manufactured through sintering, casting, and are produced from magnetic metallic elements with composites of rare earth materials. samarium cobalt (SmCo), SmFeN, Neodymium-iron-boron (NdFeB), and are some of the examples of rare earth permanent magnets.
MARKET DYNAMICS
The growth in the automotive industry owing to the rise in population, technological advancements, and the increase in consumer goods demand are key factors anticipated to fuel the permanent rare earth magnet market over the forecast period. Additionally, substantial expansion of the wind energy generation, owing to rapid industrialization and a surge in demand for electricity, is also projected to fuel the permanent rare earth magnet market. However, volatility in prices of permanent rare earth materials such as neodymium and dysprosium owing to the ban of export of rare earth elements from China to other regions is projected to hamper the rare earth magnet market.
MARKET SCOPE
The "Global Permanent Rare Earth Magnets Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Permanent rare earth magnets with detailed market segmentation by material, and application. The global Permanent rare earth magnets market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Permanent rare earth magnets market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global Permanent rare earth magnets market is segmented on the basis of material into ferrite neodymium iron boron (NdFeB), aluminum nickel cobalt (Alnico), and samarium cobalt (SmCo). On the basis of application the Permanent rare earth magnets market is segmented into automotive, consumer goods and electronics, industrial, aerospace and defense, energy, medical, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Permanent rare earth magnets 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 America. The Permanent rare earth magnets 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 the Permanent rare earth magnets 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 America after evaluating political, economic, social and technological factors affecting the Permanent rare earth magnets market in these regions.
MARKET PLAYERS
The reports cover key developments in the Permanent rare earth magnets 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 way for the expansion of business and customer base of market players. The market players from Permanent rare earth magnets market are anticipated to lucrative growth opportunities in the future with the rising demand for Permanent rare earth magnets in the global market. Below mentioned is the list of few companies engaged in the Permanent rare earth magnets market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Permanent rare earth magnets market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Adams Magnetic Products Co.
- Earth-Panda Advance Magnetic Material Co., Ltd
- Arnold Magnetic Technologies
- Daido Steel Co., Ltd.
- Eclipse Magnetics Ltd.
- Electron Energy Corporation
- Goudsmit Magnetics Group
- Hangzhou Permanent Magnet Group
- Hitachi Metals Ltd.
- Magnequench International, LLC
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