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(IT-NEWSWIRE.COM, June 25, 2019 ) Permanent magnets are objects made from a material that is magnetized and creates its own persistent magnetic field. Permanent magnets are made out of substances like magnetite (Fe3O4), the most magnetic naturally occurring mineral, or neodymium, a powerfully magnetic synthetic substance.
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Scope of the Report:
Rising demand for miniaturization coupled with advancement in technology that leads to the availability of better quality ferrite magnets and neo magnets with lesser dysprosium content, together, will drive the market to $18.8 billion by 2018. Asia-Pacific is the fastest growing markets for permanent magnet. Developing economies such as China and India are act as a growth engine for many industries that include automotive, consumer electronics, and medical technologies. These growing industries drive the growth in the region. The market here is expected to experience highest revenue growth during the next five years.
The factors that drive growth in the permanent magnet market include high demand from current & emerging applications, development, and modernization of infrastructure, increased demand for efficiency & miniaturization, and initiatives of associations & regulatory bodies. The factors that hinder the growth of this market are the fluctuating costs of raw materials, lack of quality control across developing countries, and huge investments required in R&D and technology.
China is the leading manufacturer of low cost permanent magnet. The Chinese producers were able to produce low cost permanent magnet owing to government support and subsidies, cheap labor cost, and the presence of only a few environment & health policies. It was practically impossible for producers outside China to offer at a lower cost, and operate profitably, which resulted in a closure of magnet plants outside China. China in turn became the leading producer of permanent magnet. Moreover, China has also developed an exclusive full scale competitive advantage on rare earth elements (REE) mining technology, production technology, processing technology, and human capital.
But, the market is growing with increasing number of applications in several industries. Quite a few associations and government authorities are taking the initiative for further research and development to expand the technological know-how and applications. For example, IEEE Magnetics (U.S.) focuses on basic development, designs, and applications of magnetic devices. The National Institute of Standards and Technology (NIST) (U.S.) focuses on the development of measurements, standards, and technology to improve the productivity of the product. Most of the companies have been focusing mainly on R&D in order to develop new and improved products .The companies have extensively applied expansion (either geographic or capacity expansion) as a growth strategy for this market, to increase their market share.
SmCo magnets can be used for the widest temperature range, followed by Alnico magnets. But their magnetic properties are not that high. Ferrite magnets are the cheapest permanent magnet, hence they are consumed in the largest proportion, but their usage is limited by an operable temperature range and lower magnetic energy product. The NdFeB magnet has confined usage in high temperature applications. But in combination with cobalt and dysprosium its temperature properties are enhanced and used widely in applications where miniaturization is an important design criterion.
The worldwide market for Permanent Magnets is expected to grow at a CAGR of roughly xx% over the next five years, will reach xx million US$ in 2024, from xx million US$ in 2019, .
This report focuses on the Permanent Magnets in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
Brief about Permanent Magnets Market Report with TOC .
Market Segment by Manufacturers, this report covers
Hitachi Metals
TDK
Magnequench
FDK
Vacuumschmelze
Arnold
Philips
Cosmo Ferrites
Nicrra
Nec/Tokin
Tengam Engineering
DMEGC
JPMF Guangdong
Aerospace Magnet & Magneto
Sinomag Technology
Bgrimm Magnetic
Jinchuan Electronics
Tianyuan Technology
Kaiven Group
Golden South Magnetic
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
NdFeB magent
Ferrite magent
Market Segment by Applications, can be divided into
Auto industry
Household appliance industry
Computer acoustical product
Electronic toys
others
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Permanent Magnets Market product scope, market overview, market opportunities, market driving force and market risks.
Chapter 2, to profile the top manufacturers of Permanent Magnets Market, with price, sales, revenue and global market share of Permanent Magnets Market in 2017 and 2018.
Chapter 3, the Permanent Magnets Market competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Permanent Magnets Market breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2014 to 2019.
Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2014 to 2019.
Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2014 to 2019.
Chapter 12, Permanent Magnets market forecast, by regions, type and application, with sales and revenue, from 2019 to 2024.
Chapter 13, 14 and 15, to describe Permanent Magnets Market sales channel, distributors, customers, research findings and conclusion, appendix and data source.
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Major Point of TOC: Chapter One: Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Permanent Magnets Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
Chapter Four: Global Permanent Magnets Market Analysis by Regions
Chapter Five: North America Permanent Magnets Market by Country
Chapter Six: Europe Permanent Magnets Market by Country
Chapter Seven: Asia-Pacific Permanent Magnets Market by Country
Chapter Eight: South America Permanent Magnets Market by Country
Chapter Nine: Middle East and Africa Permanent Magnets Market by Countries
Chapter Ten: Global Permanent Magnets Market Segment by Type
Chapter Eleven: Global Permanent Magnets Market Segment by Application
Chapter Twelve: Permanent Magnets Market Forecast (2019-2024)
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