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Report
Global Rare Earth Magnet Market Report and Forecast 2022-2027
Market Report I 2022-08-30 I 107 Pages I EMR Inc.
Global Rare Earth Magnet Market Report and Forecast 2022-2027
Market Outlook
According to the report by Expert Market Research (EMR), the global rare earth magnet market is being aided by the increasing application of the product across different industries, such as automotive, medical, and defence. The market is projected to grow at a CAGR of 7.1% in the forecast period of 2022-2027.
Rare earth magnet is defined as a powerful permanent magnet obtained by the elements which are rarely found on the planet earth. These are high performance magnets with a crystalline structure. Different rare earth magnets might be made of distinguished earth metals but they exhibit similar structure, properties, and brittleness. Grade and strength of these magnets may vary but are widely applied in numerous sectors. The increasing application of the products in various businesses is driving the growth of rare earth magnets market.
Neodymium (NdFeB Magnets) find wide applications in the automotive sector as these magnets are used in energy transmission system for enhancing the safety of vehicle and for controlling the information system. Hence, the increasing sales of new energy vehicles and luxury cars is driving the demand for the product.
Meanwhile, the increasing deployment of the product across the healthcare industry to manufacture medical equipment is further propelling the market growth. Magnetic resonance imaging device is one such example which is witnessing an escalated application across diagnostic and treatment of chronic diseases like arthritis and deep wounds. This will bolster the rare earth magnets market.
Samarium, on the other hand, is used to manufacture sensors which are extensively used in the aerospace and defence industry. Sensors are critical components of aircrafts and battle tanks, which is leading to a heightened incorporation of the product. Over the forecast period, the anticipated increase in the research and development activities by the major defence companies aimed towards ramping up the production of superior quality fighter jets with advanced sensors are likely to be the major growth driving trends.
The anticipated increase in the demand for power generators owing to the increasing demand for energy in various end-use industries is likely to be the key driver for the market. Rare earth magnets exhibit properties such as high coercive force, excellent temperature stability, and these magnets are also brittle in nature. These properties of these strong magnets are likely to expand the application scope across various end-use industries.
In terms of region, the Asia Pacific region accounts for a significant share of the market. The high sale of electronic devices such as printers, speakers, and computer disks, among others, is driving the growth of the market. The rapid digitalisation across emerging nations, such as India and China, are likely to accelerate the growth of rare earth magnets market in the coming years.
North America is also likely to be among the leading regions due to the advanced medical and automotive infrastructure across the developed economies such as the United States of America and Canada.
Market Segmentation
The market can be divided on the basis of magnetic type, application, and major region.
Market Breakup by Magnet Type
- NdFeB Magnets
- SmCo Magnets
Market Bifurcation by Application
- NdFeB Magnets
o Automobile
o Electronics
o Power Generators
o Medical Industry
o Wind Power
o Others
- SmCo Magnets
o Defence
o Aerospace
o Electronics
o Medical Devices
o Others
Market Breakup by Region
- China
- Japan
- Europe
- United States
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Hitachi Metals, Ltd.
- Shin-Etsu Chemical Co., Ltd
- Arnold Magnetic Technologies
- Bunting Magnetics Co.
- Others
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Rare Earth Magnet Market Analysis
8.1 Key Industry Highlights
8.2 Global Rare Earth Magnet Historical Market (2017-2021)
8.3 Global Rare Earth Magnet Market Forecast (2022-2027)
8.4 Global Rare Earth Magnet Market by Magnet Type
8.4.1 NdFeB Magnets
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 SmCo Magnets
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.5 Global Rare Earth Magnet Market by Application
8.5.1 NdFeB Magnets
8.5.1.1 Automobile
8.5.1.1.1 Market Share
8.5.1.1.2 Historical Trend (2017-2021)
8.5.1.1.3 Forecast Trend (2022-2027)
8.5.1.2 Electronics
8.5.1.2.1 Market Share
8.5.1.2.2 Historical Trend (2017-2021)
8.5.1.2.3 Forecast Trend (2022-2027)
8.5.1.3 Power Generators
8.5.1.3.1 Market Share
8.5.1.3.2 Historical Trend (2017-2021)
8.5.1.3.3 Forecast Trend (2022-2027)
8.5.1.4 Medical Industry
8.5.1.4.1 Market Share
8.5.1.4.2 Historical Trend (2017-2021)
8.5.1.4.3 Forecast Trend (2022-2027)
8.5.1.5 Wind Power
8.5.1.5.1 Market Share
8.5.1.5.2 Historical Trend (2017-2021)
8.5.1.5.3 Forecast Trend (2022-2027)
8.5.1.6 Others
8.5.2 SmCo Magnets
8.5.2.1 Defence
8.5.2.1.1 Market Share
8.5.2.1.2 Historical Trend (2017-2021)
8.5.2.1.3 Forecast Trend (2022-2027)
8.5.2.2 Aerospace
8.5.2.2.1 Market Share
8.5.2.2.2 Historical Trend (2017-2021)
8.5.2.2.3 Forecast Trend (2022-2027)
8.5.2.3 Electronics
8.5.2.3.1 Market Share
8.5.2.3.2 Historical Trend (2017-2021)
8.5.2.3.3 Forecast Trend (2022-2027)
8.5.2.4 Medical Devices
8.5.2.4.1 Market Share
8.5.2.4.2 Historical Trend (2017-2021)
8.5.2.4.3 Forecast Trend (2022-2027)
8.5.2.5 Others
8.6 Global Rare Earth Magnet Market by Region
8.6.1 Market Share
8.6.1.1 China
8.6.1.2 Japan
8.6.1.3 Europe
8.6.1.4 United States
8.6.1.5 Others
9 Regional Analysis
9.1 China
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.2 Japan
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.3 Europe
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.4 United States
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Manufacturing Process
12.1 Overview
12.2 Detailed Process Flow
12.3 Operations Involved
13 Project Details and Cost Analysis
13.1 Land, Location and Site Development
13.2 Construction
13.3 Plant Layout
13.4 Plant Machinery
13.5 Raw Material Requirement
13.6 Packaging
13.7 Transportation
13.8 Utilities
13.9 Manpower
13.10 Other Capital Investment
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Hitachi Metals, Ltd.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Shin-Etsu Chemical Co., Ltd
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Arnold Magnetic Technologies
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Bunting Magnetics Co.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Others
15 Industry Events and Developments
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