Quick Summary:
In the ever-growing Samarium Cobalt Magnets industry, staying ahead of the curve requires solid insights and robust market data. Opting for a comprehensive market research report can provide an in-depth understanding of a market seeped in potential and ripe for innovative disruptions.
Samarium Cobalt (SmCo) magnets are highly regarded for their exceptional magnetic strength, resistance to corrosion or demagnetization, and for their remarkable performance in high-temperature environments making them a popular choice across various industries globally. Their wide applications in the defense, aerospace, and electronics industries, as well as their growing use in the automotive sector, underscore the expansive demand for these solid-state marvels. Additionally, as the world gears towards environmental sustainability with a growing interest in electric and hybrid vehicles, SmCo magnets play a substantial role in keeping pace with such advancements. Furthermore, ongoing mergers and acquisition activities among industry leaders demonstrate a thriving and competitive market landscape. This research report provides invaluable insights into the key trends, majorly impacting market growth, providing a head start in shaping strategic business decisions.
Samarium cobalt (SmCo) magnets are made using samarium, cobalt, and iron. They are strong permanent magnets that are widely known for their exceptional magnetic strength and high resistance to corrosion or demagnetization. They offer excellent thermal stability and can withstand very high operating temperatures. As they are very strong and brittle yet susceptible to chipping and cracking, they require storage in low humidity and mild temperature, as well as proper handling and packing.
Samarium Cobalt Magnets Market Trends:
SmCo magnets are employed in numerous end use industries, such as defense and aerospace, across the globe due to their advantageous properties. This represents one of the key factors strengthening the growth of the market. For instance, they are used in the manufacturing of consumer electronics and medical equipment across the globe. They are also utilized in military weapons and several systems of aircraft to generate power. Apart from this, there is a rise in the demand for miniaturization of equipment and high magnetic strength in new and existing applications. This, in turn, is positively influencing the overall sales of SmCo magnets worldwide. Furthermore, with the growing environmental concerns among individuals and governing authorities, there is a considerable increase in the demand for electric and hybrid vehicles around the world. This is positively influencing the usage of these magnets in the automotive sector. Additionally, leading players are engaging in merger and acquisition (M&A) activities to increase their existing market reach, which is anticipated to fuel the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global samarium cobalt magnets market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application.Breakup by Application:
- Defence
- Aerospace
- Electronics
- Medical Devices
- Others
Breakup by Region:
- China
- USA
- Europe
- Others
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are NingBo NingGang Permanent Magnetic Materials Co., Ltd. (NGYC), Ningbo Ketian Magnet Co., Ltd., Arnold Magnetic Technologies Corporation, ADAMS Magnetic Products Co., Bunting, Eclipse Magnetics Ltd., Hangzhou Permanent Magnet Group Ltd. and Thomas & Skinner Inc.Key Questions Answered in This Report
1. What is the size of the global samarium cobalt magnets market?2. What are the key factors driving the global samarium cobalt magnets market?
3. What has been the impact of COVID-19 on the global samarium cobalt magnets market?
4. What is the breakup of the global samarium cobalt magnets market based on the application?
5. What are the key regions in the global samarium cobalt magnets market?
What is the estimated value of the Global Samarium Cobalt Magnets Market?
What is the growth rate of the Global Samarium Cobalt Magnets Market?
What is the forecasted size of the Global Samarium Cobalt Magnets Market?
Who are the key companies in the Global Samarium Cobalt Magnets Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 139 |
| Published | June 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 553.8 Million |
| Forecasted Market Value ( USD | $ 657.4 Million |
| Compound Annual Growth Rate | 2.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
Table of Contents
Companies Mentioned
- NingBo NingGang Permanent Magnetic Materials Co. Ltd. (NGYC)
- Ningbo Ketian Magnet Co. Ltd.
- Arnold Magnetic Technologies Corporation
- ADAMS Magnetic Products Co.
- Bunting
- Eclipse Magnetics Ltd.
- Hangzhou Permanent Magnet Group Ltd.
- Thomas & Skinner Inc.
Methodology
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