The global Sintered Samarium Cobalt Magnet market has been experiencing significant growth. The market was valued at approximately USD 420 million in 2023, and it is projected to grow at a compound annual growth rate (CAGR) of 4.20%, reaching USD 560.17 million by 2030. This growth is driven by increasing demand for high-performance magnets in various industries, such as automotive, aerospace, and power generation, among others.
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