The global market for Permanent Magnets is estimated at US$19.8 Billion in 2023 and is projected to reach US$29.0 Billion by 2030, growing at a CAGR of 5.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the permanent magnets market is driven by several factors. One primary driver is the increasing demand for electric vehicles (EVs), which rely heavily on permanent magnets for their motors and various electronic components. The push towards renewable energy sources, particularly wind energy, is also propelling market growth, as wind turbines require high-performance permanent magnets for efficient energy generation. Technological advancements that enhance the properties and manufacturing processes of permanent magnets are further boosting market expansion.
Additionally, the growing adoption of advanced electronic devices and the expansion of the consumer electronics market are contributing to the rising demand for permanent magnets. The healthcare sector's continuous need for advanced diagnostic and therapeutic equipment that employs permanent magnets is another significant factor. These combined factors ensure a robust growth trajectory for the permanent magnets market, driven by the increasing integration of these critical components in various cutting-edge technologies and industries.
The growth in the permanent magnets market is driven by several factors. One primary driver is the increasing demand for electric vehicles (EVs), which rely heavily on permanent magnets for their motors and various electronic components. The push towards renewable energy sources, particularly wind energy, is also propelling market growth, as wind turbines require high-performance permanent magnets for efficient energy generation. Technological advancements that enhance the properties and manufacturing processes of permanent magnets are further boosting market expansion.
Additionally, the growing adoption of advanced electronic devices and the expansion of the consumer electronics market are contributing to the rising demand for permanent magnets. The healthcare sector's continuous need for advanced diagnostic and therapeutic equipment that employs permanent magnets is another significant factor. These combined factors ensure a robust growth trajectory for the permanent magnets market, driven by the increasing integration of these critical components in various cutting-edge technologies and industries.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Neodymium-Iron-Boron (NdFeB)-based Permanent Magnets segment, which is expected to reach US$18.3 Billion by 2030 with a CAGR of a 5.5%. The Ferrite-based Permanent Magnets segment is also set to grow at 5.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $5.3 Billion in 2023, and China, forecasted to grow at an impressive 9.2% CAGR to reach $6.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Permanent Magnets Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Permanent Magnets Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Permanent Magnets Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Adams Magnetic Products Co., Anhui Earth-Panda Advance Magnetic Material Co., Ltd., Arnold Magnetic Technologies, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 22 Featured):
- Adams Magnetic Products Co.
- Anhui Earth-Panda Advance Magnetic Material Co., Ltd.
- Arnold Magnetic Technologies
- Bunting Magnetics Co.
- Daido Steel Co., Ltd.
- Dexter Magnetic Technologies, Inc.
- Eclipse Magnetics Ltd.
- Electron Energy Corporation
- Goudsmit Magnetics Group
- Hangzhou Permanent Magnet Group Co., Ltd.
- Hitachi Metals Ltd.
- Lingyi Itech (Guangdong) Company
- Lynas Corporation Ltd.
- Neo Performance Materials
- Ningbo Yunsheng Co., Ltd.
- Ninggang Permanent Magnetic Materials Co. Ltd.
- Shin-Etsu Chemical Co., Ltd.
- TDK Corporation
- Tengam Engineering, Inc.
- Thomas & Skinner, Inc.
- Vacuumschmelze GmbH & Co. KG
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYSPAINRUSSIAREST OF EUROPESOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Adams Magnetic Products Co.
- Anhui Earth-Panda Advance Magnetic Material Co., Ltd.
- Arnold Magnetic Technologies
- Bunting Magnetics Co.
- Daido Steel Co., Ltd.
- Dexter Magnetic Technologies, Inc.
- Eclipse Magnetics Ltd.
- Electron Energy Corporation
- Goudsmit Magnetics Group
- Hangzhou Permanent Magnet Group Co., Ltd.
- Hitachi Metals Ltd.
- Lingyi Itech (Guangdong) Company
- Lynas Corporation Ltd.
- Neo Performance Materials
- Ningbo Yunsheng Co., Ltd.
- Ninggang Permanent Magnetic Materials Co. Ltd.
- Shin-Etsu Chemical Co., Ltd.
- TDK Corporation
- Tengam Engineering, Inc.
- Thomas & Skinner, Inc.
- Vacuumschmelze GmbH & Co. KG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 184 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 19.8 Billion |
| Forecasted Market Value ( USD | $ 29 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
