Global Magnet Market Overview 2018: Growth, Demand and Forecast Research Report to 2023

Global Permanent Magnet Market Augmented by Growing Demand from Automotive Industry

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Report Description and Highlights

Report Description

Global Permanent Magnet Market Augmented by Growing Demand from Automotive Industry The global permanent magnet market has witnessed a healthy growth over the past few years. The increasing efforts by various countries towards reducing carbon footprints along with rising applications of permanent magnets in automobiles have provided a positive thrust to the market growth.

The recently published report by IMARC Group, titled “Global Magnet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global permanent magnet market reached a value of US$ 17 Billion in 2017, registering a CAGR of 7% during 2010-2017.

As permanent magnets are widely used in the automotive industry for electric braking, throttle and gearbox actuation and auto-clutch, the surge in the demand for automobiles is propelling the growth of the market.

Some of the other factors fuelling the market growth are wide usage of permanent magnets in medical devices, rising infrastructural developments, and advancements in information technology and communication. However, unfavourable economic conditions and fluctuations in the prices of the raw materials can adversely impact the market growth. Looking forward, the global permanent magnet market is expected to reach a value of nearly US$ 25 Billion by 2023, at a projected CAGR of around 6% during 20182023.

Report Description and Highlights

Report Description

Global Permanent Market Summary: •

On the basis of type, ferrite magnets are the most popular type of permanent magnets, accounting for the majority of the global share. This can be attributed to increased corrosion resistance offered by these magnets. Other major types of permanent magnet include Neodymium Iron Boron (NdFeB), Aluminium Nickel Cobalt (AlNiCo) and Samarium Cobalt (SmCo).

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Based on application, the market has been segmented into computer hard disk drives (HDD), CD, DVD, hybrid electric vehicles, electric bicycles, heating, ventilating and air conditioners (HVAC), wind turbines and others.

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On a geographical front, China dominates the market, representing the largest producer and consumer of permanent magnets. Other major regions include Japan, the United States and Europe.

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The competitive landscape of the market has also been examined with some of the key players being Advanced Technology & Materials Co. Ltd, VACUUMSCHMELZE GmbH & Co. KG, Beijing Zhong Ke San Huan Hi-Tech Co. Ltd, Adams Magnetic Products Co., TDK Corporation, Arnold Magnetic Technologies, Shin-Etsu Chemical Co. Ltd. and Bakker Magnetics BV.

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Report Description and Highlights

Report Description

Product Type Insights: On the basis of type, ferrite magnets are the most popular type of permanent magnets, accounting for the majority of the global share. This can be attributed to increased corrosion resistance offered by these magnets. Other major types of permanent magnet include Neodymium Iron Boron (NdFeB), Aluminium Nickel Cobalt (AlNiCo) and Samarium Cobalt (SmCo).

Regional Insights: On a geographical front, China dominates the market, representing the largest producer and consumer of permanent magnets. Other major regions include Japan, the United States and Europe.

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Report Description and Highlights Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players are: • • • •

VACUUMSCHMELZE GmbH & Co. KG Beijing Zhong Ke San Huan Hi-Tech Co. Ltd Adams Magnetic Products Co. Arnold Magnetic Technologies

• Bakker Magnetics BV

Browse more related reports: Neodymium-Iron-Boron Magnet Market: https://www.imarcgroup.com/neodymium-iron-boron-magnet-manufacturing-plant Ferrite Magnet Market: https://www.imarcgroup.com/ferrite-magnet-powder-manufacturing-plant

Report Description and Highlights

Report Description

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