The rising use of renewable energy, the massive production of EVs, and the increasing use in battery production are anticipated to drive industry growth.
Market Size - USD 20.54 Billion in 2019, Market Growth - CAGR of 8.6%, Market Trends - Rising incorporation of permanent magnets in batteries and electronics
The Global Permanent Magnets Market is anticipated to garner a market value of USD 40.18 billion in 2027, registering a CAGR of 8.6%. The market growth is majorly driven by the extensive application of permanent magnets in numerous industry verticals. Advancement in the renewable energy sector is also adding traction to market growth. This can be due to the increased usage of permanent magnets in photovoltaic and wind turbines. Moreover, the augmenting production of EVs is further anticipated to expand the permanent magnets market’s scope. The use of permanent magnets in EV components such as auto-clutch, switches, electric power steering, and sensors is anticipated to augment the industry’s growth and scope throughout the projected timeline.
The progress and development of the electronics industry and lifestyle upgrades are the major factors impelling the market’s growth. Rising demand for consumer electronics is driving the requirement for permanent magnetics, thereby boosting the development of the industry. However, the volatility in the prices for raw materials and risks associated with the mining of metals is anticipated to restrain the industry growth over the coming years.
The Asia Pacific is reckoned to hold a major share of the market through the estimated years, with China being the leader of the market growth. This can be attributed to China’s massive reserve and its position of being a cost-efficient developer of permanent magnets. Moreover, enhancement of lifestyle and fast-paced industrialization in the APAC region is speculated to fuel the growth of the sector in the following years.
Key Findings from the Report Suggest:
For the analysis, the Global Permanent Magnets Market has been segmented based on material, end-user, sales channel, application, and region:
Material Outlook Revenue: USD Billion; 2017-2027
End-User Outlook Revenue: USD Billion; 2017-2027
Sales Channel Outlook Revenue: USD Billion; 2017-2027
Application Outlook Revenue: USD Billion; 2017-2027
Regional Outlook Revenue: USD Billion; 2017-2027
Reasons to Buy the Report
Market Size - USD 20.54 Billion in 2019, Market Growth - CAGR of 8.6%, Market Trends - Rising incorporation of permanent magnets in batteries and electronics
The Global Permanent Magnets Market is anticipated to garner a market value of USD 40.18 billion in 2027, registering a CAGR of 8.6%. The market growth is majorly driven by the extensive application of permanent magnets in numerous industry verticals. Advancement in the renewable energy sector is also adding traction to market growth. This can be due to the increased usage of permanent magnets in photovoltaic and wind turbines. Moreover, the augmenting production of EVs is further anticipated to expand the permanent magnets market’s scope. The use of permanent magnets in EV components such as auto-clutch, switches, electric power steering, and sensors is anticipated to augment the industry’s growth and scope throughout the projected timeline.
The progress and development of the electronics industry and lifestyle upgrades are the major factors impelling the market’s growth. Rising demand for consumer electronics is driving the requirement for permanent magnetics, thereby boosting the development of the industry. However, the volatility in the prices for raw materials and risks associated with the mining of metals is anticipated to restrain the industry growth over the coming years.
The Asia Pacific is reckoned to hold a major share of the market through the estimated years, with China being the leader of the market growth. This can be attributed to China’s massive reserve and its position of being a cost-efficient developer of permanent magnets. Moreover, enhancement of lifestyle and fast-paced industrialization in the APAC region is speculated to fuel the growth of the sector in the following years.
Key Findings from the Report Suggest:
- The automotive segment is anticipated to lead the market growth and is projected to register a CAGR of 8.3% throughout the following years. The expansion and progress of the automotive industry worldwide are predicted to bolster the industry’s growth during the period. The rising use of permanent magnets for sensors and auto-clutch, among others, in vehicles, is anticipated to create an added demand for the product through the projected timeframe.
- The Consumer Electronics segment is forecast to attain a market share of 18% by the end of the forecast duration. The significant growth can be attributed to the augmented use of permanent magnets in DVD, HDD, and CDs.
- Based on end-users, the aerospace and defense segment is predicted to assume a massive industry share in the estimated timeframe. The increasing demand can be accredited to the increased application of permanent magnets to manufacture guided missile systems and atomic batteries for spacecraft.
- The environment and energy segment is also anticipated to exhibit lucrative growth over the projected timeline due to the change in the renewable sector and countries’ efforts to attain their preset targets of renewable energy.
- The Neodymium Iron Boron Magnets segment is predicted to control the largest share of the industry during the forecast timeframe due to the increasing use of the material to produce sensors and gauges of expensive automobiles. The material is also the first choice in battery components, engine components, mobile car components, and HDD in consumer electronics.
- Ferrite magnets are projected to exhibit a rapid expansion, registering a CAGR of 7.9% throughout the forecast years, owing to the surging demand for luxury cars, mainly in Europe, thereby boosting the growth of the ferrite magnets.
- Asia Pacific is anticipated to be the critical revenue-generating region in the global business sphere and is anticipated to account for nearly 31% of the industry’s share throughout the estimated timeframe. This can be attributed to China’s dominant position in manufacturing and consumption of permanent magnets.
- Key players of the industry are Hitachi Metals Ltd., Anhui Earth-Panda Advance Magnetic Material Co. Ltd., Daido Steel Co. Ltd., Thomas & Skinner Inc., TDK Corporation, Adams Magnetic Products Co., Eclipse Magnetics Ltd., Electron Energy Corporation, Hangzhou Permanent Magnet Group, Arnold Magnetic Technologies, Molycorp Magnequench, and Goudsmit Magnetics Group, among others.
For the analysis, the Global Permanent Magnets Market has been segmented based on material, end-user, sales channel, application, and region:
Material Outlook Revenue: USD Billion; 2017-2027
- Alnico Magnets
- Samarium Cobalt Magnets
- Neodymium Iron Boron Magnets
- Ferrite Magnets
- Others
End-User Outlook Revenue: USD Billion; 2017-2027
- Aerospace & Defense
- Automotive
- Consumer Electronics
- Medical Technology
- Environment & Energy
- General Industrial
- Others
Sales Channel Outlook Revenue: USD Billion; 2017-2027
- Distributor
- Direct Sales
Application Outlook Revenue: USD Billion; 2017-2027
- Energy Storage System
- Electric Bicycle
- Hybrid & Electric vehicles
- Industrial Motors
- Magnetic Levitation Transport
- Magnetic Refrigeration
- Wind Turbines
- Others
Regional Outlook Revenue: USD Billion; 2017-2027
- North America
- U.S.
- Europe
- U.K.
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Narrowband Permanent Magnets Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in Permanent Magnets market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 4. Permanent Magnets Segmentation & Impact Analysis
Chapter 5. Permanent Magnets Market By Material Insights & Trends
Chapter 6. Permanent Magnets Market By End Users Insights & Trends
Chapter 7. Permanent Magnets Market By Applications Insights & Trends
Chapter 8. Permanent Magnets Market By Sales Channel Insights & Trends
Chapter 9. Permanent Magnets Market Regional Outlook
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
Companies Mentioned
- Adams Magnetic Products Co.
- Anhui 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.
- Molycorp Magnequench
- TDK Corporation
- Thomas & Skinner Inc.
