The global Samarium Iron Nitrogen (SmFeN) magnet market was valued at USD 43 million in 2023. It is projected to reach USD 55.08 million by 2030, representing a Compound Annual Growth Rate (CAGR) of 3.60% during the forecast period from 2023 to 2030. The market's growth can be attributed to the increasing demand for high-performance materials in various industries, including consumer electronics, automotive, and renewable energy, all of which require strong, temperature-resistant magnetic materials.
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