New study: In-depth research on permanent rare earth magnets market from 2015 to 2022
Release time:2016-11-03 15:35 Author:Nature
Keywords: Rare Earth Magnets
The study of the global permanent rare earth magnets market provides the market size information
and market trends along with the factors and parameters impacting it in both short and long term.
The study also covers the competitive scenario of the market with respect to the raw material availability,
major players with their branding strategies and differentiating factors among others.
Permanent Rare Earth Magnets Market – Drivers, Opportunities, Trends & Forecasts: 2015–2022
Permanent magnets are those which retain their magnetic properties even in the absence of an inductive field.
Permanent rare earth magnets are the strongest available magnets and are broadly based on two rare earth
elements – neodymium and samarium.
The rare earth here is a misnomer and these elements are abundantly available in the earth crust. However,
due to difficulty and high-cost involvement in refining and purification process, these metals are very costlier
limiting the application areas for permanent rare earth magnets.
Currently, China is the global leader in rare earth oxide supply covering more than 90% of the global market.
Although a significant portion of products end-up being utilized in developed countries of the US and Western
Europe; these products are largely sourced from developing countries in South Asian region. The increasing
demand for efficient products across the industries would drive the demand for rare earth magnets with highest
growth rate expectations from wind turbine market.
The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the
business decision makers to make better business plans and informed decisions for the future business.
In addition, the study helps the venture capitalist in understanding the companies better and take informed decisions.
According to the Research, the global permanent rare earth magnets market is expected to grow at a CAGR of 13.2%
during the forecast period to reach $41.41 billion by 2022. Industrial applications segment is expected to maintain global
dominance in application segments, whereas
China and Japan driven Asia Pacific is expected to increase its dominance in global permanent rare earth magnets market.
The global supply of rare earth metals is expected to remain stable after WTO intervention and international agreements
providing opportunities for sustainable market growth. The international players are also looking for other ways to reduce
the dependencies, such as options of heavy rare earth free magnets, but the overall market is expected to remain stable
in terms of price during the forecast period.
Some of the prominent players in the global permanent rare earth magnets market are Hitachi Metals, Vacuumschmelze
GmBH & Co. KG, Shin-Etsu Rare Earth Magnet and TDK.