Global Permanent Magnets Market Analysis 2023-2030 - Rising Demand in Medical Devices and Smart Electronics Drives Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Permanent Magnets Market Size, Share & Trends Analysis Report By Material (Ferrite, NdFeB), By Application (Consumer Goods & Electronics, Energy), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global permanent magnets market size is projected to reach approximately USD 39.71 billion by 2030.

With a promising compound annual growth rate (CAGR) of 8.6%, the market is driven by a range of factors. Supportive initiatives aimed at promoting healthcare infrastructure, particularly in developing countries, are anticipated to contribute to the market's expansion.

Additionally, the extensive usage of permanent magnets in industrial automation, especially in response to the COVID-19 outbreak, and the growing demand from the healthcare sector are expected to drive market growth.

Permanent magnets play a vital role in various medical devices, including blood separators, surgical devices, dental equipment, patient monitoring systems, drug delivery systems, and Magnetic Resonance Imaging (MRI) scanners, among others. These magnets are integral to both essential and non-essential healthcare devices, further fueling their demand.

The global economy is undergoing significant technological advancements, leading to a proliferation of smart electronic devices. As a result, the market for wearable electronics devices, smartphones, and other smart technologies is expected to witness substantial growth in advanced and emerging economies. This technological shift indirectly benefits the demand for permanent magnets, as they are essential components in these electronic devices.

The global permanent magnets market is characterized by fragmentation and regional concentration. China, in particular, holds a prominent position in the market due to its large-scale rare earth metal deposits. This presence has led to the clustering of numerous small, medium, and large-scale manufacturers in close vicinity, further shaping the market dynamics.

As the global permanent magnets market continues to grow, fueled by healthcare infrastructure initiatives, industrial automation, and advancements in smart electronic devices, industry players are poised to seize the opportunities presented by this expanding market.

Permanent Magnets Market Report Highlights

• The ferrite material segment dominated the market in 2022 mainly due to the wide usage of ferrite magnets in medical devices
• The NdFeB material segment is likely to witness the fastest CAGR, in terms of revenue, over the predicted timeline
• The rising popularity of anti-lock braking system sensors in vehicles is anticipated to aid the segment growth over the coming years
• The medical segment is estimated to be among the key application fields over the forecast period owing to the increased spending in healthcare infrastructure across the globe post-pandemic
• Asia Pacific is estimated to emerge as the largest as well as the fastest-growing regional market, in terms of revenue, from 2023 to 2030.
• China is projected to remain the key contributor to the regional market of Asia Pacific

Company Profiles

• Adams Magnetic Products Co.
• 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.
• Magnequench International, LLC

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

2.1. Market Outlook

2.2. Segmental Outlook

2.3. Competitive Outlook

Chapter 3. Market Variables, Trends, and Scope

3.1. Market Outlook

3.2. Industry Value Chain Analysis

3.3. Manufacturing Trends & Technology Overview

3.4. Regulatory Framework

3.5. Market Dynamics

3.6. Porter's Five Forces Analysis

3.7. PESTLE Analysis

Chapter 4. Permanent Magnets Market: Material Estimates & Trend Analysis

4.1. Permanent Magnets Market: Material Movement Analysis, 2022 & 2030

4.2. Ferrite

4.3. Neodymium Iron Boron (NdFeB)

4.4. Aluminum Nickel Cobalt (Alnico)

4.5. Samarium Cobalt (SmCo)

Chapter 5. Permanent Magnets Market: Application Estimates & Trend Analysis

5.1. Permanent Magnets Market: Application Movement Analysis, 2022 & 2030

5.2. Automotive

5.3. Consumer Goods and Electronics

5.4. Industrial

5.5. Aerospace & Defense

5.6. Energy

5.7. Medical

Chapter 6. Permanent Magnets Market: Regional Estimates & Trend Analysis

6.1. Regional Analysis, 2022 & 2030

6.1.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)

6.1.2. Market estimates and forecasts, by material, 2018 - 2030 (Kilotons) (USD Million)

6.1.3. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)

Chapter 7. Competitive Landscape

7.1. Recent Developments & Impact Analysis, By Key Market Participants

7.2. Company Categorization

7.3. Company Ranking

7.4. Heat Map Analysis

7.5. Vendor Landscape

7.6. Strategy Mapping

For more information about this report visit https://www.researchandmarkets.com/r/whlk42

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.