August 16, 2021 06:58 ET | Source: Research and Markets Research and Markets
Dublin, Aug. 16, 2021 (GLOBE NEWSWIRE) -- The "Global 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), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global Permanent magnet market is expected to grow from USD 34.4 billion in 2021 to USD 54.1 billion by 2026, at a CAGR of 9.5% during the forecast period.
The neodymium iron boron magnet is the fastest-growing segment by magnet type in terms of value and volume.
The neodymium iron boron magnet market is expected to witness high growth because of the growing demand for miniaturization of various equipment. They are the most preferred permanent magnets owing to their strong magnetic properties. These magnets are made of alloys of neodymium, iron, and boron. They can be made in blocks, rings, discs, arcs, triangle, and spheres. NdFeB magnets are sintered anisotropic materials. They also contain dysprosium and terbium to maintain and improve the properties of magnets. It is the strongest permanent magnet available today with maximum energy products.
The consumer electronics industry dominates the global permanent magnet market in 2020
The demand for permanent magnet in consumer electronics industry is expected to increase mainly due to improving standards of living and rising disposable income in the APAC region. In the consumer electronics segment, permanent magnets are used in magnetic heads of Hard Disk Drives (HDD), CDs, as well as in motors of peripheral devices such as printers, fax machines, scanners, and photocopies. The increasing usage of cloud computing and related development resulted in the growing demand for data centers to store enormous amount of data. The growing demand from data centers for HDD pushes the demand for permanent magnets. These magnets are also used in air conditioners, washing machines, dryers, cooling fan motors in computers, fans, microwaves, loudspeakers, and VCR tape drive motors, among others. Permanent magnets help enhance the efficiency of such appliances.
APAC to lead the permanent magnet during the forecast period
APAC is projected to have the highest growth in the permanent magnet and will expand significantly by 2026. This dominance is attributed to the rising demand from domestic industries in the region. The demand for permanent magnet is growing, especially, in APAC and South America. The markets in these regions are expected to register high growth in comparison to other regions. The growth of the permanent magnet market in the APAC region is also driven by foreign investment and availability of low cost labor and raw materials.
4 Premium Insights 4.1 Significant Opportunities in Permanent Magnet Market, 2021-2026 4.2 Permanent Magnet Market, by Type 4.3 Permanent Magnet Market, by End-Use Industry
5 Market Overview 5.1 Introduction 5.2 Market Segmentation 5.2.1 Permanent Magnet Market, by Type 5.2.2 Permanent Magnet Market, by End-Use Industry 5.3 Market Dynamics 5.3.1 Drivers 5.3.2 Restraints 5.3.3 Opportunities 5.4.4 Challenges
6 Industry Trends 6.1 Introduction 6.2 Value Chain Analysis 6.3 Porter's Five Forces Analysis 6.3.1 Bargaining Power of Suppliers 6.3.2 Bargaining Power of Buyers 6.3.3 Threat of New Entrants 6.3.4 Threat of Substitutes 6.3.5 Degree of Competition 6.4 Price Analysis 6.5 Raw Material Analysis 6.6 Patent Analysis 6.7 Technology Analysis 6.8 Impact of COVID -19 on Permanent Magnet Market
7 Permanent Magnet Market, by Type 7.1 Introduction 7.2 Neodymium Iron Boron Magnets 7.3 Ferrite Magnets 7.4 Samarium Cobalt Magnets 7.5 Alnico Magnets 7.6 Other Permanent Magnets
8 Permanent Magnet Market, by End-Use Industry 8.1 Introduction 8.2 Consumer Electronics 8.2.1 Dc Motors 8.2.2 Loudspeakers 8.2.3 Generators 8.3 General Industrial 8.3.1 Magnetic Assemblies 8.3.2 Magnetic Separators 8.4 Automotive 8.4.1 Motors 8.4.2 Sensors 8.4.3 Switches 8.5 Medical Technology 8.5.1 Scanning Devices 8.5.2 Implantable Devices 8.6 Environment & Energy 8.6.1 Wind Torbines 8.7 Aerospace & Defense 8.7.1 Electric Engines 8.7.2 Magnetic Bearings 8.8 Others
9 Permanent Magnet Market, by Region
10 Competitive Landscape 10.1 Introduction 10.2 Market Share Analysis 10.3 Market Rankings 10.3 Market Evaluation Framework 9.3.1 Product Launches and Developments 9.3.2 Expansions 9.3.3 Agreements, Collaborations, Joint Ventures, and Partnership 9.3.4 Mergers & Acquisitions 10.5 Strength of Product Portfolio 10.6 Business Strategy Excellence
11 Company Profiles 11.1 Introduction 11.2 Hitachi Metals, Ltd. 11.3 Daido Steel Co., Ltd. 11.4 Tdk Corporation 11.5 Shin-Etsu Chemical Co., Ltd. 11.6 Arnold Magnetic Technologies 11.7 Lynas Corporation Ltd. 11.8 Electron Energy Corporation 11.9 Tengam Engineering, Inc. 11.10 Adams Magnetic Products Co., Inc. 11.11 Bunting Magnetics Co. 11.12 Yantai Shougang Magnetic Materials Inc. 11.13 Galaxy Magnets 11.14 Other Companies 11.14.1 Ningbo Yunsheng Co. Ltd. (China) 11.14.2 Anhui Earth-Panda Advance Magnetic Material Co., Ltd. (China) 11.14.3 Eclipse Magnetics (U.K.) 11.14.4 Goudsmit Magnetics (Netherlands) 11.14.5 Hangzhou Permanent Magnet Group (China) 11.14.6 Jpmf Guangdong Co., Ltd. (China) 11.14.7 Ninggang Permanent Magnetic Materials Co. Ltd. (China) 11.14.8 Thomas & Skinner Inc. (U.S.) 11.14.9 Magx America, Inc. (U.S.) 11.14.10 Magnum Magnetics Corporation (U.S.) 11.14.11 Yantai Zhenghai Material Co., Ltd. (China) 11.14.12 Intermetallics Japan Corporation (Japan) 11.14.13 Ningbo Co-Star Materials Hi-Tech Co., Ltd. (China) 11.14.14 Risheng Magnets International Co., Ltd. (China) 11.14.15 Sanvac (Beijing) Magnetics Co., Ltd. (China) 11.14.16 Molycorp Magnequench (Canada) 11.14.17 Vacuumschmelze GmbH & Co., Kg (Germany) 11.14.18 Zhong Ke San Huan (China)
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