Permanent Magnet Market is Led by Increasing Demand for Wind Turbines and Consumer Electronics

A permanent magnet is a magnet that maintains its magnetic properties for a long period of time. This is in contrast to an electromagnet, which only maintains its magnetic properties while an electric current is flowing through it. Permanent magnets are made from materials that are naturally magnetic, or from alloys that are magnetized.

Key Trends

Permanent magnet technology is constantly evolving and the key trends are miniaturization, higher energy density, and improved reliability.

Miniaturization: As electronic devices continue to shrink in size, so do the magnets used in them. This trend is driven by the need for smaller, lighter, and more compact devices. Magnets are being made smaller and more powerful, while still maintaining their magnetic properties.

Higher energy density: Permanent magnets are made from materials that have a high magnetic strength, or energy density. This allows them to store more energy in a smaller space. This is important for applications where weight and space are limited, such as in electric vehicles and wind turbines.

Improved reliability: Permanent magnets are used in a variety of critical applications, such as in medical devices and in the power grid. They must be reliable and able to withstand extreme conditions. Manufacturers are constantly working to improve the reliability of permanent magnets.

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Key Drivers

The major factor driving the growth of the permanent magnet market is the increasing demand for electric vehicles. The demand for electric vehicles is expected to grow at a rapid pace due to the increasing environmental concerns and the need to reduce dependence on fossil fuels. The other factors driving the growth of the permanent magnet market include the increasing demand for wind turbines and the growing demand for consumer electronics.

Key Players

  • Adams Magnetic Products Co.(US)
  • Earth-Panda Advance Magnetic Material Co., Ltd.(CH)
  • Arnold Magnetic Technologies(US)
  • Daido Steel Co., Ltd.(JP)
  • Eclipse Magnetics Ltd.(US)
  • Electron Energy Corp.(US)
  • Goudsmit Magnetics Group(NL)
  • Hangzhou Permanent Magnet Group(CH)
  • Magnequench International, LLC(US)
  • NeoMagnetics(CH)

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