Market Definition
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.
Market Outlook
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.
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.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segments
The permanent magnet market can be segmented by material, application, and region. By material, the market can be divided into ferrite, neodymium iron boron (NdFeB), aluminium nickel cobalt (Alnico), samarium cobalt (SmCo). By application, the market can be divided into automotive, consumer goods & electronics, industrial, aerospace & defense, energy, medical, and others. By region, the market is divided into North America, Europe, Asia Pacific, and the Rest of the World.
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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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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
- Market Size in 2021 – US$ XXX Billion
- Market Size in 2031 – US$ XXX Billion
- CAGR % – XXX
- Historic Period – 2015-2022
- Forecast Period – 2021-2031
- Base Year – 2021
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