Permanent magnets are the basis of an ever-increasing number of devices of modern life. They are found in or used in making almost every modern convenience today, from air-conditioners and washing machines to speakers in mobile phones and electric motors in hybrid cars. There are currently four main types of permanent magnets - NdFeB, SmCo, AlNiCo, and Ferrite. NdFeB and SmCo are rare earth magnets that find applications in motors, telephones, automobiles, credit cards, monitors, audio systems, imaging systems, etc. Ferrite and AlNiCo magnets are brittle, non-corrosive and cheaper than rare earth magnets. These are mostly used in household products, speakers, MRI machines, DC motors, magnetic holders and lifters, magnetic assemblies and tools, etc. As ferrite magnets require cheaper raw materials and have low manufacturing costs, they are currently dominating the global permanent magnets industry.

The global magnet market currently represents a multi-billion-dollar industry. Well-diversified and growing industrial applications coupled by the fact that they have limited alternatives are driving the current demand of NdFeB magnets. SmCo magnets, on the other hand, are gaining acceptance due to an increasing spending on defence and aerospace products. Governments across various countries are also promoting green technologies in order to decrease the carbon emissions which in turn is also expected to boost the global demand of rare earth magnets in the coming years. We expect, the overall demand of permanent magnets to grow at a CAGR of around 6.2% during the forecast period.

IMARC’s new report “Global Magnet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, provides an analytical, statistical and technical insight into the global permanent magnet market. The study, which is based both on desk research and multiple waves of qualitative primary research, is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the magnet industry in any manner.

Key Questions Answered in this Report?
What are the historical, current and future trends in the global permanent magnet market?
Which are the key permanent magnet types?
How have the various types of permanent magnets performed in the market?
What are the historical, current and future trends in the Ferrite magnet market?
What are the historical, current and future trends in the Neodymium Iron Boron (NdFeB) magnet market?
What are the historical, current and future trends in the Aluminium Nickel Cobalt (AlNiCo) market?
What are the historical, current and future trends in the Samarium Cobalt (SmCo) market?
Which countries represent the biggest markets for permanent magnets and how have they performed?
What are the historical, current and future trends in the Chinese magnet market?
What are the historical, current and future trends in the US magnet market?
What are the historical, current and future trends in the European magnet market?
What are the historical, current and future trends in the Japanese magnet market?
What are the major applications of permanent magnets and what are their market shares?
How are permanent magnets manufactured?
What are the raw material and machinery requirements for manufacturing permanent magnets?