DUBLIN--(BUSINESS WIRE)--The "Permanent Magnets Market Size, Share & Trends Analysis Report by Material (Ferrite, Neodymium Iron Boron, Aluminum Nickel Cobalt), by Application (Industrial, Energy), by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global permanent magnets market size is expected to reach USD 39.67 billion by 2027. It is expected to exhibit a CAGR of 7.5% in terms of revenue, during the forecast period.
Increasing use of ferrite magnets in electronic and electrical devices, such as electric motors, earbuds, switching devices, laptops, transformers, inductors, smartphones, and signal processing devices is expected to drive the demand for permanent magnets.
Neodymium magnets are utilized in a majority of electronic devices such asHard Disk Drives (HDDs), CDs, DVDs, and earbuds owing to their high magnetic strength and ability to perform at a wide temperature range. According to Arnold Magnetic Technologies, the utilization of neodymium magnet in earbuds is approximated 0.2 grams per earbud. The increasing demand for earbuds and other electronic devices is anticipated to augment market growth over the forecast period.
High magnetization and superior performance of neodymium magnets at high temperatures make them suitable for use in generators in the energy sector. Therefore, neo magnets are increasingly used in the energy industry. Roughly 15% of the cumulative wind energy installations until 2015 were based on permanent magnets. According to the International Renewable Energy Association (IRENA), global wind energy capacity installation reached 563,726 megawatts in 2018. The increasing wind capacity installation is anticipated to augment the growth of the permanent magnets market.
In Asia Pacific, a rise in the production of electronics, passenger vehicles, and wind power generators is anticipated to increase the product application. Moreover, government initiatives such as Make in India by the Indian government, is leading the country to become the manufacturing hub in the region. Global manufacturing giants like Siemens (electric motor manufacturer), HTC (consumer electronics manufacturer), GE (Industrial motor and generator manufacturer), and Toshiba (Consumer electronics manufacturer) have either set up or in the process of establishing production plants in India. This is expected to significantly drive the demand for permanent magnets in the country.
Further key findings from the report suggest:
- Neodymium Iron Boron magnets is anticipated to progress at a CAGR of 7.8%, in terms of revenue over the forecast period owing to the increasing demand from electric motors, air conditioning compressors and fans and energy storage systems
- Industrial application is projected to witness a CAGR of 5.8% in terms of volume over the forecast period owing to increasing demand for motors around the globe
- Energy is among the fast growing segments in terms of revenue, owing to the increasing demand for renewable energy sources such as wind energy in which wind turbine generator uses permanent magnets
- Asia Pacific is anticipated to expand at a CAGR of 5.8% in terms of volume over the forecast period owing to the growing automotive and electronics industries, especially in China, India, Japan, and South Korea
- Europe is expected to witness a CAGR of 5.0% in terms of revenue over the forecast period owing to the rising demand for electric vehicles on account of stringent regulations reducing fuel emissions in the region
Key Topics Covered:
Chapter 1 Methodology and Scope
1.1 Market segmentation & scope
1.2 Research assumptions
1.3 Research methodology
1.4 Information procurement
1.5 Information analysis
1.6 Market formulation & data visualization
1.7 Data validation & publishing
1.8 List to Data Sources
Chapter 2 Executive Summary
2.1 Permanent magnets market outlook, 2019
2.2 Regional segment outlook, 2019
2.3 Material segment outlook, 2019
2.4 Application segment outlook, 2019
Chapter 3 Permanent Magnets Market Variables, Trends & Scope
3.1 Global permanent magnets market outlook
3.2 Penetration & growth prospect mapping
3.3 Permanent magnets market: Value chain analysis
3.4 Regulatory framework
3.5 Market dynamics
3.6 Business environment analysis tools
Chapter 4 Permanent Magnet: Material Estimates & Trend Analysis
4.1 Permanent magnets market: Material movement analysis, 2019 & 2027
4.3 Neodymium Iron Boron (NdFeB)
4.4 Aluminum Nickel Cobalt (Alnico)
4.5 Samarium Cobalt (SmCo)
Chapter 5 Permanent Magnet: Application Estimates & Trend Analysis
5.1 Permanent magnets market: Application movement analysis, 2019 & 2027
5.3 Consumer Goods & Electronics
5.5 Aerospace & Defense
Chapter 6 Permanent Magnets Market: Regional Estimates & Trend Analysis
6.1 Permanent magnets market: Regional movement analysis, 2019 & 2027
6.2 North America
6.4 Asia Pacific
6.5 Central & South America
6.6 Middle East & Africa
Chapter 7 Competitive Analysis
7.1 Key global players & recent developments & their impact on the industry
7.2 Vendor landscape
7.3 Key company/Competition categorization
7.4 SWOT analysis
Chapter 8 Company Profiles
8.1 Adams Magnetic Products Co.
8.2 Earth-Panda Advance Magnetic Material Co., Ltd
8.3 Arnold Magnetic Technologies
8.4 Daido Steel Co., Ltd.
8.5 Eclipse Magnetics Ltd.
8.6 Electron Energy Corporation
8.7 Goudsmit Magnetics Group
8.8 Hangzhou Permanent Magnet Group
8.9 Hitachi Metals Ltd.
8.10 Magnequench International, LLC
8.11 Ningbo Yunsheng Co., Ltd.
8.12 Ninggang Permanent Magnetic Materials Co., Ltd.
8.13 Shin-Etsu Chemical Co., Ltd.
8.14 TDK Corporation
8.15 Thomas & Skinner, Inc.
8.16 Vacuumschmelze GMBH & Co. Kg
8.17 Ugimag Korea Co., Ltd.
8.18 SsangYong Materials Corp.
8.19 Pacific Metals Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/5q5v1d