Permanent Magnets Market Sales,Regional Trends and Opportunities, Revenue

Posted by meera on October 19th, 2021

A recently published report titled “Global Permanent Magnets Market” is an extensive study by Reports and Data of the Permanent Magnets industry and includes a study of several factors that impact the growth of the market. The factors taken into consideration in this report are government policies, market landscape, technologies, market risks, opportunities, and challenges faced by the market. The report further analyzes historical data, current and future market trends, recent technological developments, key competitors, and regional bifurcation.

The currently ongoing COVID-19 pandemic has affected several countries and sectors and the subsequent social restrictions and lockdowns have resulted in the economic slowdown. The report analyzes the impact of the pandemic on the overall market and offers an estimation of the current and future impact of the pandemic on the Permanent Magnets market.

The Global Permanent Magnets Market is forecasted to reach USD 44.15 Billion by 2028, according to a new report by Reports and Data. The property of permanent magnets to retain its magnetic property makes it applicable for use in a wide range of industries. Increase in renewable energy is also fueling the growth of the market. Utilization of permanent magnets in wind turbines and solar photovoltaics and increasing production of hybrid and electric vehicles are some of the drivers propelling the growth of the market. Application of permanent magnets in sensors, switches, auto-clutch, and electric power steering are other factors boosting the market growth.

Market Dynamics:

The materials and chemicals industry is rapidly gaining traction over the forecast period and is expected to expand significantly in the coming years. Technological advancements and rising innovation are key factors boosting global market growth. The global Permanent Magnets market is projected to register robust revenue CAGR during the forecast period between 2021 and 2028. Increasing awareness about green energy and eco-friendly biodegradable products, environmental impact due to carbon emissions are few key factors supporting market growth. High demand for various chemicals and raw materials in various industrial sectors such as food and technology, pharmaceutical and biotechnology, manufacturing, paint and coating, paper, plastic among others. In addition, increasing research and development activities, growing demand for products like perfumes, soaps and detergents for daily usage along with rising disposable income across the globe are further boosting market growth.

The report offers in depth insight about prominent players in the market, their market position, global and financial standing, license agreement, brand promotions and product portfolio. The global Permanent Magnets market is highly competitive and consist of various key players at global and regional levels. These players are adopting various strategies like joint ventures, collaborations, partnerships, and new product launches to strengthen their market position.

Leading companies operating in the market and profiled in the report include:

Adams Magnetic Products Co., Anhui Earth-Panda Advance Magnetic Material Co. Ltd., Arnold Magnetic Technologies, Daido Steel Co. Ltd., Eclipse Magnetics Ltd., Electron Energy Corporation, Goudsmit Magnetics Group, Hangzhou Permanent Magnet Group, Hitachi Metals Ltd., Molycorp Magnequench, TDK Corporation, and Thomas & Skinner Inc., among others.

Material Outlook (Revenue, USD Billion; 2020-2028)

Neodymium Iron Boron Magnets

Ferrite Magnets

Samarium Cobalt Magnets

Alnico Magnets

Other Magnets

End Users Outlook (Revenue, USD Billion; 2020-2028)

Consumer Electronics

Automotive

Environment & Energy

General Industrial

Medical Technology

Aerospace & Defense

Others

The Permanent Magnets market is segmented into five major regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

Regional Outlook:

North America

US

Canada

Mexico

Europe

Germany

UK

Italy

France

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Rest of MEA

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