The global Rare Earth Magnet market was valued at US$ 8731.4 million in 2020 and it is expected to reach US$ 13680 million by the end of 2027, growing at a CAGR of 5.3% during 2021-2027.
The rare earth permanent magnet material refers to an alloy formed of rare earth metal and a transition metal. This permanent magnet material made by a certain process is extremely magnetic and can be maintained for a long time. Rare earth magnets have been developed for four generations. The first and second generations are RE-Co permanent magnets, ie Co-based permanent magnets: the first generation as type 5 SmCo alloys (SmCo5) and the second generation as Rare-earth Sintered Magnet7 SmCo alloys (Sm2Co17). Since Sm reserve is scare, Co And Ni is also a valuable strategic metal, the first two generations of rare earth permanent magnets have not been widely used,their major market are only for the high-end military area. The third and fourth generation rare earth permanent magnets are RE-FE-B permanent magnets. It is the third generation – NdFeB alloy (Nd2Fe14B), also the most widely used rare earth permanent magnet; the fourth generation is Sm-Fe-N alloy. (Sm2Fe17N3), but Sm-Fe-N alloy has not yet entered the stage of commercial production.
China is the largest Rare Earth Magnet market with about 82% market share. Japan& South Korea is follower, accounting for about 10% market share.
The key players are Hitachi Metals Group, Shin-Etsu, TDK, VAC, Beijing Zhong Ke San Huan Hi-Tech, Yunsheng Company, YSM, JL MAG, ZHmag, Jingci Material Science, AT&M, NBJJ, Innuovo Magnetics, SGM, Galaxy Magnetic, Zhejiang Zhongyuan Magnetic Industry Limited, Earth- Panda, Magsuper, Daido Electronics, Tianhe Magnetics etc. Top 3 companies occupied about 20% market share.
Global Rare Earth Magnet Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Rare Earth Magnet Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are Hitachi Metals Group, Shin-Etsu, Tdk, Vac, Beijing Zhong Ke San Huan Hi-Tech, Yunsheng Company, Ysm, Jl Mag, Zhmag, Jingci Material Science, At&M, Nbjj, Innuovo Magnetics, Sgm, Galaxy Magnetic, Zhejiang Zhongyuan Magnetic Industry Limited, Earth- Panda, Magsuper, Daido Electronics, Tianhe Magnetics and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Find more details at: https://www.themarketreports.com/report/global-rare-earth-magnet-market-research-report
Segment by Type
- Sintered Neodymium Magnet
- Bonded Neodymium Magnet
Segment by Application
- Other Automotive
- Air Conditioning
- Aerospace & Defense
- Wind Energy
- Consumer Goods & Electronics
- Industrial Machinery
Table of Content:
1 Rare Earth Magnet Market Overview
2 Rare Earth Magnet Market Competition by Manufacturers
3 Rare Earth Magnet Retrospective Market Scenario by Region
4 Global Rare Earth Magnet Historic Market Analysis by Type
5 Global Rare Earth Magnet Historic Market Analysis by Application
6 Key Companies Profiled
7 Rare Earth Magnet Manufacturing Cost Analysis
8 Marketing Channel, Distributors and Customers
9 Rare Earth Magnet Market Dynamics
10 Global Rare Earth Magnet Market Forecast
11 Research Finding and Conclusion
12 Methodology and Data Source
13 Forecast by Type and by Application (2022-2027)
14 Research Finding and Conclusion
15 Methodology and Data Source
Company Name: The Market Reports
Contact Person: Shirish Gupta
Peter Barzilai is a high school pitcher and college rower turned longtime World News journalist. Peter has also written for Buzz Feed and Huffington Post and many other major publications, Peter Loves everything about sports and loves to write on trending topics and he is DailyFactsNTrends member since 2017.