CHEMICALS & MATERIALS
Global Permanent Magnet Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Permanent Magnet Market, By Type (Neodymium Iron Boron Magnets, Ferrite Magnets, Samarium Cobalt Magnets, AlNiCo Magnets, Others), End-use industries (Consumer Electronics, General Industrial, Automotive, Medical technology, Environment & Energy, Aerospace & Defense, Other end-use industries), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global permanent magnet market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
A permanent magnet is a material that keeps magnetic characteristics in the absence of external power sources or electrical current. Permanent magnets produce a persistent magnetic field as a result of its inherent material features, typically as a result of the alignment of magnetic domains within the material, in contrast to temporary magnets, which only show signs of magnetism when an electric current passes through them. The Permanent Magnet Market includes the manufacture, distribution, and application of permanent magnets used in a variety of industries. This market offers a variety of magnet types, including ferrite, samarium-cobalt, and neodymium magnets. Applications include electronics and automotive systems, as well as industrial machinery and renewable energy technology. Technological developments, growing demand for smaller components, and the expansion of applications in developing industries are the main factors driving market growth.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Rising demand for electric vehicles and hybrid vehicles
- Expansion of renewable energy infrastructure
RESTRAINTS
- High production costs of rare-earth materials
- Supply chain vulnerabilities for rare-earth elements
OPPORTUNITIES
- Development of new, cost-effective magnet materials
- Growth in emerging markets and industrial applications
CHALLENGES
- Fluctuations in rare-earth element prices
- Geopolitical tensions affecting supply chains
SEGMENTATION
- Type
- Neodymium Iron Boron Magnets
- Ferrite Magnets
- Samarium Cobalt Magnets
- AlNiCo Magnets
- Others
- End-use industries
- Consumer Electronics
- General Industrial
- Automotive
- Medical technology
- Environment & Energy
- Aerospace & Defense
- Other end-use industries
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, segments, key players as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- Hitachi Metals, Ltd.
- Jiangmen Magsource New Material Co. Ltd.
- Adams Magnetic Products Co.
- Arnold Magnetic Technologies
- Anhui Earth-Panda Advance Magnetic Material Co. Ltd.
- Ningbo Yunsheng Co. Ltd.
- Daido Steel Co. Ltd.
- Molycorp Magnequench
- Thomas & Skinner Inc.
- Vacuumschmelze GmbH & Co. KG
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Permanent Magnet Market, by Type
- 3.2 Global Permanent Magnet Market, by End-use industries
- 3.3 Global Permanent Magnet Market, by Geography
- 3.4 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Growing adoption in electric vehicles
- 5.1.2 Increased use in renewable energy systems
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Rising demand for electric vehicles and hybrid vehicles
- 5.2.2 Expansion of renewable energy infrastructure
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 High production costs of rare-earth materials
- 5.3.2 Supply chain vulnerabilities for rare-earth elements
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Development of new, cost-effective magnet materials
- 5.4.2 Growth in emerging markets and industrial applications
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Fluctuations in rare-earth element prices
- 5.5.2 Geopolitical tensions affecting supply chains
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL PERMANENT MAGNET MARKET, BY TYPE
- 6.1 Type Summary
- 6.2 Market Attractive Index
- 6.3 Global Permanent Magnet Market, by Type (2019-2032)
- SECTION 7 - GLOBAL PERMANENT MAGNET MARKET, BY END-USE INDUSTRIES
- 7.1 End-use industries Summary
- 7.2 Market Attractive Index
- 7.3 Global Permanent Magnet Market, by End-use industries (2019-2032)
- SECTION 8 - GLOBAL PERMANENT MAGNET MARKET, BY GEOGRAPHY
- 8.1 Regional Summary
- 8.2 Market Attractive Index
- 8.3 Global Permanent Magnet Market, by Geography (2019-2032)
- SECTION 9 - NORTH AMERICA PERMANENT MAGNET MARKET
- 9.1 North America Summary
- 9.2 Market Attractive Index
- 9.3 North America Permanent Magnet Market, by Type (2019-2032)
- 9.4 North America Permanent Magnet Market, by End-use industries (2019-2032)
- 9.5 North America Permanent Magnet Market, by Country (2019-2032)
- 9.5.1 U.S.
- 9.5.2 Canada
- 9.5.3 Mexico
- 9.5.4 Rest of North America
- SECTION 10 - EUROPE PERMANENT MAGNET MARKET
- 10.1 Europe Summary
- 10.2 Market Attractive Index
- 10.3 Europe Permanent Magnet Market, by Type (2019-2032)
- 10.4 Europe Permanent Magnet Market, by End-use industries (2019-2032)
- 10.5 Europe Permanent Magnet Market, by Country (2019-2032)
- 10.5.1 Germany
- 10.5.2 U.K.
- 10.5.3 France
- 10.5.4 Italy
- 10.5.5 Spain
- 10.5.6 Russia
- 10.5.7 The Netherlands
- 10.5.8 Belgium
- 10.5.9 Turkey
- 10.5.10 Rest of Europe
- SECTION 11 - ASIA-PACIFIC PERMANENT MAGNET MARKET
- 11.1 Asia-Pacific Summary
- 11.2 Market Attractive Index
- 11.3 Asia-Pacific Permanent Magnet Market, by Type (2019-2032)
- 11.4 Asia-Pacific Permanent Magnet Market, by End-use industries (2019-2032)
- 11.5 Asia-Pacific Permanent Magnet Market, by Country (2019-2032)
- 11.5.1 China
- 11.5.2 India
- 11.5.3 Japan
- 11.5.4 South Korea
- 11.5.5 Singapore
- 11.5.6 Malaysia
- 11.5.7 Australia
- 11.5.8 Thailand
- 11.5.9 Philippines
- 11.5.10 Rest of Asia-Pacific
- SECTION 12 - SOUTH AMERICA PERMANENT MAGNET MARKET
- 12.1 South America Summary
- 12.2 Market Attractive Index
- 12.3 South America Permanent Magnet Market, by Type (2019-2032)
- 12.4 South America Permanent Magnet Market, by End-use industries (2019-2032)
- 12.5 South America Permanent Magnet Market, by Country (2019-2032)
- 12.5.1 Brazil
- 12.5.2 Argentina
- 12.5.3 Chile
- 12.5.4 Colombia
- 12.5.5 Rest of South America
- SECTION 13 - MIDDLE EAST AND AFRICA PERMANENT MAGNET MARKET
- 13.1 Middle East and Africa Summary
- 13.2 Market Attractive Index
- 13.3 Middle East and Africa Permanent Magnet Market, by Type (2019-2032)
- 13.4 Middle East and Africa Permanent Magnet Market, by End-use industries (2019-2032)
- 13.5 Middle East and Africa Permanent Magnet Market, by Country (2019-2032)
- 13.5.1 Kingdom of Saudi Arabia
- 13.5.2 South Africa
- 13.5.3 U.A.E.
- 13.5.4 Egypt
- 13.5.5 Rest of Middle East and Africa
- SECTION 14 - COMPANY SHARE ANALYSIS
- 14.1 Global Permanent Magnet Market, Company Share Analysis
- 14.2 North America Permanent Magnet Market, Company Share Analysis
- 14.3 Europe Permanent Magnet Market, Company Share Analysis
- 14.4 Asia-Pacific Permanent Magnet Market, Company Share Analysis
- SECTION 15 - COMPANY PROFILES
- 15.1 Hitachi Metals, Ltd.
- 15.1.1 Company Snapshot
- 15.1.2 Financial Overview
- 15.1.3 Product Portfolio
- 15.1.4 Recent Developments
- 15.2 Jiangmen Magsource New Material Co. Ltd.
- 15.2.1 Company Snapshot
- 15.2.2 Financial Overview
- 15.2.3 Product Portfolio
- 15.2.4 Recent Developments
- 15.3 Adams Magnetic Products Co.
- 15.3.1 Company Snapshot
- 15.3.2 Financial Overview
- 15.3.3 Product Portfolio
- 15.3.4 Recent Developments
- 15.4 Arnold Magnetic Technologies
- 15.4.1 Company Snapshot
- 15.4.2 Financial Overview
- 15.4.3 Product Portfolio
- 15.4.4 Recent Developments
- 15.5 Anhui Earth-Panda Advance Magnetic Material Co. Ltd.
- 15.5.1 Company Snapshot
- 15.5.2 Financial Overview
- 15.5.3 Product Portfolio
- 15.5.4 Recent Developments
- 15.6 Ningbo Yunsheng Co. Ltd.
- 15.6.1 Company Snapshot
- 15.6.2 Financial Overview
- 15.6.3 Product Portfolio
- 15.6.4 Recent Developments
- 15.7 Daido Steel Co. Ltd.
- 15.7.1 Company Snapshot
- 15.7.2 Financial Overview
- 15.7.3 Product Portfolio
- 15.7.4 Recent Developments
- 15.8 Molycorp Magnequench
- 15.8.1 Company Snapshot
- 15.8.2 Financial Overview
- 15.8.3 Product Portfolio
- 15.8.4 Recent Developments
- 15.9 Thomas & Skinner Inc.
- 15.9.1 Company Snapshot
- 15.9.2 Financial Overview
- 15.9.3 Product Portfolio
- 15.9.4 Recent Developments
- 15.10 Vacuumschmelze GmbH & Co. KG
- 15.10.1 Company Snapshot
- 15.10.2 Financial Overview
- 15.10.3 Product Portfolio
- 15.10.4 Recent Developments
- SECTION 16 - RELATED REPORTS
- SECTION 17 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.