Competitive Outlook and Trend Analysis:
Major market players in the global market are Shin-Etsu Chemical Co. Ltd., Daido Steel Co., Ltd, Arnold Magnetic Technologies, Hangzhou Permanent Magnet Group, Electron Energy Corporation, Molycorp Magnequench, Anhui Earth-Panda Advance Magnetic Material Co. Ltd., Hitachi Metals Ltd, TDK Corporation and Adams Magnetic Products Co.
The Global Permanent Magnets Market is segmented as follows –
Industry Trend Analysis:
In 2014, the Global Permanent Magnets Market was evaluated around USD 12.52 billion and is expected to reach approximately USD 26.57 billion by 2023 while registering itself at a compound annual growth rate (CAGR) of 8.72% over the forecast period.
Rising permanent magnets demand for medical devices that are used for disease discovery, and efficient drug placing is anticipated to boost the market demand. Additionally, rising demand of extraordinary earth magnets for magnetic therapy devices and products utilized for separating white and red blood cells is projected to impact the growth positively.
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Key Growing Factors:
Growing requirement for rare earth metals like Dysprosium and Neodymium due to its advanced properties like superior saturation magnetization has contributed to extensive use in compact products with augmented pull force and superior magnetic strength.
Also, growing rare earth mining in Australia and China has anticipated ensuing as a plenty of feedstock, hence promoting the market growth during the forecast years. Growing acceptance of low-cost production techniques like hydrogen decrepitation and powder method is projected to boost demand during the forecast period.
Moreover, rising spending on research and development for the manufacturing of efficient low-cost production technologies and high strength magnets is predicted to drive the products to demand over the forecast years.
Table of Contents:
4.Permanent Magnets Market, By Product
4.2.Global Permanent Magnets Sales, Revenue and Market Share By Product (2014-2017)
4.3.Permanent Magnets Market Assessment and Forecast, By Product, 2014-2023
To be Continued...
Regional Outlook and Trend Analysis:
In 2015, China reported for a highest market share of over USD 8.0 Billion and is anticipated to play a role of a major driving factor for the market during the forecast years owing to the plenty of iron and rare earth metals ores in this region. Additionally, the availability of advanced production techniques and low-cost labor is projected to boost the growth of the global market during the forecast years. The requirement for the product for automotive applications is anticipated to fuel the European market growth. Moreover, the existence of key automobile makers in Germany is estimated to boost the Neodymium magnets demand in this region. Rising demand for the magnets in industrial applications like metal & mining, chemicals, power utilities, and oil & gas along with speedy industrialization in emerging countries like Japan and India are anticipated to propel the Asia Pacific market growth. Also, growing demand for ferrite magnets due to the plenty of raw materials in the India is likely to augment the market demand during the forecast years.
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