Global Permanent Magnet Market Industry | Market Reports Library


Posted August 26, 2021 by sohashah

marketreportslibrary.com forecasts significant growth in the Permanent Magnet Market from 2019 to 2025, and Business Verticals and Opportunities.

 
The Permanent Magnet market is expected to grow from USD 19.38 billion in 2019 to USD 32.34 billion by 2025 at a CAGR of 8.91% from 2019 to 2025.
A permanent magnet is an entity that is designed by ferromagnetic material, which uses a strong magnetic field to magnetize. Permanent magnet retains its magnetic properties in the absence of an inducing field or current. High-quality permanent magnet forms a high magnetic field with low mass and stable against the influences which would demagnetize it. Growing adoption of a permanent magnet for manufacturing high-performance products such as radar arrays, door actuators, fluid flow meters, and braking systems in aircraft is anticipated to drive the growth of the global market over the estimated period. In addition, increasing preference towards magnetic systems for manufacturing products in space applications such as in jets and military helicopters is another important factor projected to fuel the growth of the target market. Furthermore, technological advancements in the product manufacturing process with cost-effective methods such as hydrogen decrepitation and powder method and increasing adoption of permanent magnet in medical imaging devices are expected to support the development of this market in the near future. The global market is segregated on the basis of End User as Environment & Energy, Aerospace & Defense, Others, Consumer Electronics, General Industrial, Automotive, and Medical Technology. Based on Type the global market is segmented in Alnico Magnet, Others, Neodymium Iron Boron Magnet, Ferrite Magnet, and Samarium Cobalt Magnet.
The global market report provides geographical analysis covering regions, such as Europe, North America, Asia Pacific, and the Rest of The World. The market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.


View Complete Report: @ https://marketreportslibrary.com/report/cm0123/permanent-magnet-market
The global Permanent Magnet market has been segmented as below:
By End-User
Environment & Energy
Aerospace & Defense
Others
Consumer Electronics
General Industrial
Automotive
Medical Technology
By Type
Alnico Magnet
Others
Neodymium Iron Boron Magnet
Ferrite Magnet
Samarium Cobalt Magnet
By Region
North America
Europe
Asia-Pacific
Rest of the World
Competitive Rivalry
Hitachi Metals, Ltd. (Japan), Daido Steel Co., Ltd. (Japan), TDK Corporation (Japan), Shin-etsu Chemical Co., Ltd. (Japan), Arnold Magnetic Technologies (U.S.), Lynas Corporation Ltd. (Australia), Electron Energy Corporation (U.S.), Tengam Engineering, Inc. (U.S.), Adams Magnetic Products Co., Inc. (U.S.), Bunting Magnetics Co. (U.S.), and others are among the major players in the market. The companies studied in terms of product strategy and various n several growths and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
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Last Updated August 26, 2021