DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Magnet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022" report to their offering.
The overall demand of permanent magnets to grow at a CAGR of around 6.2% during the forecast period.
Permanent magnets are the basis of an ever-increasing number of devices of modern life. They are found in or used in making almost every modern convenience today, from air-conditioners and washing machines to speakers in mobile phones and electric motors in hybrid cars. There are currently four main types of permanent magnets - NdFeB, SmCo, AlNiCo, and Ferrite.
NdFeB and SmCo are rare earth magnets that find applications in motors, telephones, automobiles, credit cards, monitors, audio systems, imaging systems, etc. Ferrite and AlNiCo magnets are brittle, non-corrosive and cheaper than rare earth magnets. These are mostly used in household products, speakers, MRI machines, DC motors, magnetic holders and lifters, magnetic assemblies and tools, etc. As ferrite magnets require cheaper raw materials and have low manufacturing costs, they are currently dominating the global permanent magnets industry.
The global magnet market currently represents a multi-billion-dollar industry. Well-diversified and growing industrial applications coupled by the fact that they have limited alternatives are driving the current demand of NdFeB magnets. SmCo magnets, on the other hand, are gaining acceptance due to an increasing spending on defence and aerospace products. Governments across various countries are also promoting green technologies in order to decrease the carbon emissions which in turn is also expected to boost the global demand of rare earth magnets in the coming years.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
5 Global Permanent Magnet Market
6 Global Permanent Magnet Market by Magnet Type
7 Global Permanent Magnet Market by Region
8 Global Permanent Magnet Market by Application
9 Key Players in the Global Magnet Market
10 Requirements for Setting-up a Permanent Magnet Manufacturing Plant
11 Drivers of the Global Permanent Magnets Industry
12 Challenges Faced By the Magnet Industry
13 Import and Export Data of Permanent Magnets
For more information about this report visit http://www.researchandmarkets.com/research/8j6pdw/global_magnet