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Permanent Rare Earth Magnets Market Type, Application and Geography-Forecast up to 2028

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  • 130 Pages
  • August 2023
  • Region: Global
  • IHR Insights
  • ID: 5876421
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Permanent magnets are those which retain their magnetic properties even in the absence of an inductive field. Permanent rare earth magnets are the strongest available magnets and are broadly based on two rare earth elements - neodymium and samarium. The rare earth here is a misnomer and these elements are abundantly available in the earth crust. Renewable energy technologies, such as wind turbines and generators, depend on rare earth magnets to efficiently convert mechanical energy into electrical energy. The growth of renewable energy installations and the focus on clean energy solutions drive the demand for permanent rare earth magnets. Additionally, rare earth magnets, particularly neodymium magnets, are essential components in various electronic devices such as smartphones, computers, laptops, headphones, and speakers. The growing demand for these gadgets drives the need for permanent rare earth magnets. However, due to difficulty and high-cost involvement in refining and purification process, these metals are very costlier limiting the application areas for permanent rare earth magnets. The Permanent Rare Earth Magnets Market is anticipated to grow at a rate of 8.5% CAGR by 2028.

Permanent Rare Earth Magnets Market based on Type

  • Neodymium Magnets
  • Samarium Magnets

Permanent Rare Earth Magnets Market based on Applications

  • Industrial
  • Consumer Electronics
  • Home Appliances
  • Automotive
  • Wind Turbines
  • Others (such as Medical Equipment, Aerospace)

Permanent Rare Earth Magnets Market based on Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World
As per the type, the neodymium magnets market is likely to witness high growth due to the surging demand for miniaturization of different equipments. They are the most preferred permanent magnets due to their robust magnetic properties. These magnets are made of alloys of iron, neodymium and boron. They can be made in rings, blocks, discs, triangle, arcs and spheres. NdFeB magnets are sintered anisotropic materials. They also include dysprosium and terbium to maintain and enhance the properties of magnets. NdFeB is the strongest permanent magnet available today with maximum energy products.

The consumer electronics segment is projected have the maximum share in the permanent rare earth magnets market growth. This is majorly due to rising standards of living and increasing disposable income in the APAC region. In the consumer electronics segment, permanent rare earth magnets are used in magnetic heads of Hard Disk Drives (HDD), CDs, as well as in motors of peripheral devices such as fax machines, scanners, printers and photocopies. The rising usage of cloud computing and associated development resulted in the surging demand for data centers to store huge amount of data. The rising demand from data centers for HDD pushes the demand for permanent magnets. Permanent magnets are further used in washing machines, air conditioners, dryers, cooling fan motors in computers, microwaves, fans, loudspeakers and VCR tape drive motors, among others. Permanent magnets help improve the efficiency of such appliances.

Moreover, the global push towards sustainable transportation and the rising adoption of electric vehicles were driving the demand for permanent rare earth magnets. EVs rely heavily on powerful magnets, especially neodymium-based magnets, in their electric motors, contributing to increased consumption of rare earth magnets.

According to the geography, the Asia Pacific region is accounted for the highest share in the permanent rare earth magnets market. Since, the region is a manufacturing center of the world. Automotive and electronic productions are crucial components of the region’s manufacturing activities.

The few prominent vendors of the permanent rare earth magnets market are Adams Magnetic Products Co., Advance Magnetic Material Co., Ltd, Arnold Magnetic Technologies, Daido Steel Co., Ltd., Goudsmit Magnetics Group, Eclipse Magnetics Ltd., Electron Energy Corporation, Hitachi Metals Ltd., Hangzhou Permanent Magnet Group, and Magnequench International, LLC.

As a result, the technology continues to advance, the demand for permanent rare earth magnets is expected to rise, further enhancing their importance in modern industries and driving further research and development in the field of magnet materials.
  • This report gives comprehensive details of the attributes influencing the market growth such as drivers, restraints, challenges and opportunities.
  • This report elucidates the market segmentation in terms of technology type, solution application, location and geography.
  • This report depicts the profiles of the significant competitors of the permanent rare earth magnets market coupled with their dynamic business strategies.
  • This report also depicts the growth of the market in the regions such as North America, Europe, Asia Pacific and rest of the World.

Table of Contents

1. Executive Summary
2. Industry Outlook
2.1. Industry Overview
2.2. Industry Trends
3. Market Snapshot
3.1. Market Definition
3.2. Market Outlook
3.2.1. Porter Five Forces
3.3. Related Markets
4. Market characteristics
4.1. Market Overview
4.2. Market Segmentation
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. DRO - Impact Analysis
5. TYPE: Market Size & Analysis
5.1. Overview
5.2. Neodymium Magnets
5.3. Samarium Magnets
6. Application: Market Size & Analysis
6.1. Overview
6.2. Industrial
6.3. Consumer Electronics
6.4. Home Appliances
6.5. Automotive
6.6. Wind Turbines
6.7. Others (such as Medical Equipment, Aerospace)
7. Geography: Market Size & Analysis
7.1. Overview
7.2. North America
7.3. Europe
7.4. Asia Pacific
7.5. Rest of the World
8. Competitive Landscape
8.1. Competitor Comparison Analysis
8.2. Market Developments
8.2.1. Mergers and Acquisitions, Legal, Awards, Partnerships
8.2.2. Product Launches and execution
9. Vendor Profiles
9.1. Adams Magnetic Products Co.
9.1.1. Overview
9.1.2. Financial Overview
9.1.3. Product Offerings
9.1.4. Developments
9.1.5. Business Strategy
9.2. Advance Magnetic Material Co., Ltd
9.2.1. Overview
9.2.2. Financial Overview
9.2.3. Product Offerings
9.2.4. Developments
9.2.5. Business Strategy
9.3. Arnold Magnetic Technologies
9.3.1. Overview
9.3.2. Financial Overview
9.3.3. Product Offerings
9.3.4. Developments
9.3.5. Business Strategy
9.4. Daido Steel Co., Ltd.
9.4.1. Overview
9.4.2. Financial Overview
9.4.3. Product Offerings
9.4.4. Developments
9.4.5. Business Strategy
9.5. Eclipse Magnetics Ltd.
9.5.1. Overview
9.5.2. Financial Overview
9.5.3. Product Offerings
9.5.4. Developments
9.5.5. Business Strategy
9.6. Electron Energy Corporation
9.6.1. Overview
9.6.2. Financial Overview
9.6.3. Product Offerings
9.6.4. Developments
9.6.5. Business Strategy
9.7. Goudsmit Magnetics Group
9.7.1. Overview
9.7.2. Financial Overview
9.7.3. Product Offerings
9.7.4. Developments
9.7.5. Business Strategy
9.8. Hangzhou Permanent Magnet Group
9.8.1. Overview
9.8.2. Financial Overview
9.8.3. Product Offerings
9.8.4. Developments
9.8.5. Business Strategy
9.9. Hitachi Metals Ltd.
9.9.1. Overview
9.9.2. Financial Overview
9.9.3. Product Offerings
9.9.4. Developments
9.9.5. Business Strategy
9.10. Magnequench International, LLC
9.10.1. Overview
9.10.2. Financial Overview
9.10.3. Product Offerings
9.10.4. Developments
9.10.5. Business Strategy
10. Analyst Opinion
11. Annexure
11.1. Report Scope
11.2. Market Definitions
11.3. Research Methodology
11.3.1. Data Collation and In-house Estimation
11.3.2. Market Triangulation
11.3.3. Forecasting
11.4. Report Assumptions
11.5. Declarations
11.6. Stakeholders
11.7. Abbreviations
List of Tables
Table 1. Global Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 2. Global Permanent Rare Earth Magnets Market Value for Neodymium Magnets, by Geography, 2022-2028 (USD Billion)
Table 3. Global Permanent Rare Earth Magnets Market Value for Samarium Magnets, by Geography, 2022-2028 (USD Billion)
Table 4. Global Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 5. Global Permanent Rare Earth Magnets Market Value for Industrial, 2022-2028 (USD Billion)
Table 6. Global Permanent Rare Earth Magnets Market Value for Consumer Electronics, by Geography, 2022-2028 (USD Billion)
Table 7. Global Permanent Rare Earth Magnets Market Value for Home Appliances, by Geography, 2022-2028 (USD Billion)
Table 8. Global Permanent Rare Earth Magnets Market Value for Automotive, by Geography, 2022-2028 (USD Billion)
Table 9. Global Permanent Rare Earth Magnets Market Value for Wind Turbines, by Geography, 2022-2028 (USD Billion)
Table 10. Global Permanent Rare Earth Magnets Market Value for Others, by Geography, 2022-2028 (USD Billion)
Table 11. North America Permanent Rare Earth Magnets Market Value, by Country, 2022-2028 (USD Billion)
Table 12. North America Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 13. North America Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 14. U.S Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 15. U.S Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 16. Canada Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 17. Canada Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 18. Europe Permanent Rare Earth Magnets Market Value, by Country, 2022-2028 (USD Billion)
Table 19. Europe Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 20. Europe Permanent Rare Earth Magnets Market Value, Application, 2022-2028 (USD Billion)
Table 21. Germany Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 22. Germany Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 23. U.K Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 24. U.K Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 25. France Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 26. France Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 27. Italy Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 28. Italy Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 29. Spain Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 30. Spain Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 31. Roe Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 32. Roe Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 33. Asia Pacifc Permanent Rare Earth Magnets Market Value, by Country, 2022-2028 (USD Billion)
Table 34. Asia Pacifc Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 35. Asia Pacifc Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 36. China Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 37. China Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 38. India Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 39. India Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 40. Japan Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 41. Japan Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 42. Rest of APAC Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 43. Rest of APAC Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 44. Rest of World Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Table 45. Rest of World Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Table 46. Adams Magnetic Products Co.: Financials
Table 47. Adams Magnetic Products Co.: Product and Services
Table 48. Adams Magnetic Products Co.: Recent Developments
Table 49. Adams Magnetic Products Co.: Application/Service Provider Portfolio
Table 50. Advance Magnetic Material Co. Ltd: Financials
Table 51. Advance Magnetic Material Co. Ltd: Product and Services
Table 52. Advance Magnetic Material Co. Ltd: Recent Developments
Table 53. Advance Magnetic Material Co. Ltd: Application/Service Provider Portfolio
Table 54. Arnold Magnetic Technologies: Financials
Table 55. Arnold Magnetic Technologies: Product and Services
Table 56. Arnold Magnetic Technologies: Recent Developments
Table 57. Arnold Magnetic Technologies: Application/Service Provider Portfolio
Table 58. Daido Steel Co. Ltd.: Financials
Table 59. Daido Steel Co. Ltd.: Product and Services
Table 60. Daido Steel Co. Ltd.: Recent Developments
Table 61. Daido Steel Co. Ltd.: Application/Service Provider Portfolio
Table 62. Eclipse Magnetics Ltd.: Financials
Table 63. Eclipse Magnetics Ltd.: Product and Services
Table 64. Eclipse Magnetics Ltd.: Recent Developments
Table 65. Eclipse Magnetics Ltd.: Application/Service Provider Portfolio
Table 66. Electron Energy Corporation: Financials
Table 67. Electron Energy Corporation: Product and Services
Table 68. Electron Energy Corporation: Recent Developments
Table 69. Electron Energy Corporation: Application/Service Provider Portfolio
Table 70. Goudsmit Magnetics Group: Financials
Table 71. Goudsmit Magnetics Group: Product and Services
Table 72. Goudsmit Magnetics Group: Recent Developments
Table 73. Goudsmit Magnetics Group: Application/Service Provider Portfolio
Table 74. Hangzhou Permanent Magnet Group: Financials
Table 75. Hangzhou Permanent Magnet Group: Product and Services
Table 76. Hangzhou Permanent Magnet Group: Recent Developments
Table 77. Hangzhou Permanent Magnet Group: Application/Service Provider Portfolio
Table 78. Hitachi Metals Ltd.: Financials
Table 79. Hitachi Metals Ltd.: Product and Services
Table 80. Hitachi Metals Ltd.: Recent Developments
Table 81. Hitachi Metals Ltd.: Application/Service Provider Portfolio
Table 82. Magnequench International, LLC: Financials
Table 83. Magnequench International, LLC: Product and Services
Table 84. Magnequench International, LLC: Recent Developments
Table 85. Magnequench International, LLC: Application/Service Provider Portfolio
List of Figures
Chart. 1. Global Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 2. Global Permanent Rare Earth Magnets Market Value for Neodymium Magnets, by Geography, 2022-2028 (USD Billion)
Chart. 3. Global Permanent Rare Earth Magnets Market Value for Samarium Magnets, by Geography, 2022-2028 (USD Billion)
Chart. 4. Global Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 5. Global Permanent Rare Earth Magnets Market Value for Industrial, 2022-2028 (USD Billion)
Chart. 6. Global Permanent Rare Earth Magnets Market Value for Consumer Electronics, by Geography, 2022-2028 (USD Billion)
Chart. 7. Global Permanent Rare Earth Magnets Market Value for Home Appliances, by Geography, 2022-2028 (USD Billion)
Chart. 8. Global Permanent Rare Earth Magnets Market Value for Automotive, by Geography, 2022-2028 (USD Billion)
Chart. 9. Global Permanent Rare Earth Magnets Market Value for Wind Turbines, by Geography, 2022-2028 (USD Billion)
Chart. 10. Global Permanent Rare Earth Magnets Market Value for Others, by Geography, 2022-2028 (USD Billion)
Chart. 11. North America Permanent Rare Earth Magnets Market Value, by Country, 2022-2028 (USD Billion)
Chart. 12. North America Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 13. North America Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 14. U.S Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 15. U.S Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 16. Canada Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 17. Canada Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 18. Europe Permanent Rare Earth Magnets Market Value, by Country, 2022-2028 (USD Billion)
Chart. 19. Europe Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 20. Europe Permanent Rare Earth Magnets Market Value, Application, 2022-2028 (USD Billion)
Chart. 21. Germany Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 22. Germany Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 23. U.K Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 24. U.K Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 25. France Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 26. France Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 27. Italy Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 28. Italy Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 29. Spain Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 30. Spain Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 31. Roe Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 32. Roe Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 33. Asia Pacifc Permanent Rare Earth Magnets Market Value, by Country, 2022-2028 (USD Billion)
Chart. 34. Asia Pacifc Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 35. Asia Pacifc Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 36. China Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 37. China Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 38. India Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 39. India Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 40. Japan Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 41. Japan Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 42. Rest of APAC Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 43. Rest of APAC Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)
Chart. 44. Rest of World Permanent Rare Earth Magnets Market Value, by Type, 2022-2028 (USD Billion)
Chart. 45. Rest of World Permanent Rare Earth Magnets Market Value, by Application, 2022-2028 (USD Billion)

Companies Mentioned

  • Adams Magnetic Products Co.
  • Advance Magnetic Material Co. Ltd
  • Arnold Magnetic Technologies
  • Daido Steel Co. Ltd.
  • Goudsmit Magnetics Group
  • Eclipse Magnetics Ltd.
  • Electron Energy Corporation
  • Hitachi Metals Ltd.
  • Hangzhou Permanent Magnet Group
  • Magnequench International LLC.

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