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Report
Samarium Cobalt Magnets Market: Global Industry Trends, Share, Size, Growth, Forecast and Opportunity 2023-2028
Market Report I 2023-06-14 I 139 Pages I IMARC Group
The global samarium cobalt magnets market size reached US$ 553.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 657.4 Million by 2028, exhibiting a growth rate (CAGR) of 2.8% during 2023-2028.
Samarium cobalt (SmCo) magnets are made using samarium, cobalt, and iron. They are strong permanent magnets that are widely known for their exceptional magnetic strength and high resistance to corrosion or demagnetization. They offer excellent thermal stability and can withstand very high operating temperatures. As they are very strong and brittle yet susceptible to chipping and cracking, they require storage in low humidity and mild temperature, as well as proper handling and packing.
Samarium Cobalt Magnets Market Trends:
SmCo magnets are employed in numerous end use industries, such as defense and aerospace, across the globe due to their advantageous properties. This represents one of the key factors strengthening the growth of the market. For instance, they are used in the manufacturing of consumer electronics and medical equipment across the globe. They are also utilized in military weapons and several systems of aircraft to generate power. Apart from this, there is a rise in the demand for miniaturization of equipment and high magnetic strength in new and existing applications. This, in turn, is positively influencing the overall sales of SmCo magnets worldwide. Furthermore, with the growing environmental concerns among individuals and governing authorities, there is a considerable increase in the demand for electric and hybrid vehicles around the world. This is positively influencing the usage of these magnets in the automotive sector. Additionally, leading players are engaging in merger and acquisition (M&A) activities to increase their existing market reach, which is anticipated to fuel the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global samarium cobalt magnets market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application.
Breakup by Application:
Defence
Aerospace
Electronics
Medical Devices
Others
The defence sector accounts for the majority of the total market share on account of the higher curie temperature of SmCo magnets, which is considered ideal for high-temperature applications.
Breakup by Region:
China
USA
Europe
Others
China currently enjoys the leading position in the market due to the easy availability of raw materials used for manufacturing SmCo magnets.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are NingBo NingGang Permanent Magnetic Materials Co., Ltd. (NGYC), Ningbo Ketian Magnet Co., Ltd., Arnold Magnetic Technologies Corporation, ADAMS Magnetic Products Co., Bunting, Eclipse Magnetics Ltd., Hangzhou Permanent Magnet Group Ltd. and Thomas & Skinner Inc.
Key Questions Answered in This Report
1. What is the size of the global samarium cobalt magnets market?
2. What are the key factors driving the global samarium cobalt magnets market?
3. What has been the impact of COVID-19 on the global samarium cobalt magnets market?
4. What is the breakup of the global samarium cobalt magnets market based on the application?
5. What are the key regions in the global samarium cobalt magnets market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Rare Earth Magnets Industry
5.1 Market Overview
5.2 Market Performance
5.2.1 Sales Volume Trends
5.2.2 Sales Value Trends
5.3 Market Breakup by Magnet Type
5.4 Market Breakup by Application
5.5 Market Forecast
5.6 Major Players
6 Global Samarium Cobalt Magnets Industry
6.1 Market Overview
6.2 Market Performance
6.2.1 Volume Trends
6.2.2 Value Trends
6.3 Impact of COVID-19
6.4 Price Analysis
6.4.1 Key Price Indicators
6.4.2 Price Structure
6.4.3 Price Trends
6.5 Market Breakup by Region
6.6 Market Breakup by Application
6.7 Market Forecast
6.8 SWOT Analysis
6.8.1 Overview
6.8.2 Strengths
6.8.3 Weaknesses
6.8.4 Opportunities
6.8.5 Threats
6.9 Value Chain Analysis
6.9.1 Rare Earth Mining and Milling Companies
6.9.2 Rare Earth Oxide Manufacturers
6.9.3 Rare Earth Metal Manufacturers
6.9.4 Rare Earth Alloy Manufacturers
6.9.5 Rare Earth Magnet Manufacturers
6.9.6 Product Distribution
6.9.7 Scrap Magnets Removing and Separating Companies
6.9.8 Recycling Companies
6.10 Porter's Five Forces Analysis
6.10.1 Overview
6.10.2 Bargaining Power of Buyers
6.10.3 Bargaining Power of Suppliers
6.10.4 Degree of Rivalry
6.10.5 Threat of New Entrants
6.10.6 Threat of Substitutes
6.11 Key Success and Risk Factors for Manufacturers
7 Market Performance by Region
7.1 China
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 USA
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Europe
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Applications
8.1 Defence
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Aerospace
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Electronics
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Medical Devices
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Competitive Landscape
9.1 Competitive Structure
9.2 Key Players
9.3 Key Player Profiles
9.3.1 NingBo NingGang Permanent Magnetic Materials Co., Ltd. (NGYC)
9.3.2 Ningbo Ketian Magnet Co., Ltd.
9.3.3 Arnold Magnetic Technologies Corporation
9.3.4 ADAMS Magnetic Products Co.
9.3.5 Bunting
9.3.6 Eclipse Magnetics Ltd.
9.3.7 Hangzhou Permanent Magnet Group Ltd.
9.3.8 Thomas & Skinner Inc.
10 Samarium Cobalt (SmCo) Magnets Manufacturing Process
10.1 Product Overview
10.2 Detailed Process Flow
10.3 Various Types of Unit Operations Involved
10.4 Mass Balance and Raw Material Requirements
11 Project Details, Requirements and Costs Involved
11.1 Land Requirements and Expenditures
11.2 Construction Requirements and Expenditures
11.3 Plant Machinery
11.4 Machinery Pictures
11.5 Raw Material Requirements and Expenditures
11.6 Raw Material and Final Product Pictures
11.7 Packaging Requirements and Expenditures
11.8 Transportation Requirements and Expenditures
11.9 Utility Requirements and Expenditures
11.10 Manpower Requirements and Expenditures
11.11 Other Capital Investments
12 Loans and Financial Assistance
13 Project Economics
13.1 Capital Cost of the Project
13.2 Techno-Economic Parameters
13.3 Product Pricing
13.4 Income Projections
13.5 Expenditure Projections
13.6 Taxation and Depreciation
13.7 Financial Analysis
13.8 Profit Analysis
Figure 1: Global: Samarium Cobalt (SmCo) Magnet Market: Major Drivers and Challenges
Figure 2: Global: Rare Earth Magnets Market: Sales Volume (in Tons), 2017-2022
Figure 3: Global: Rare Earth Magnets Market: Sales Value (in Billion US$), 2017-2022
Figure 4: Global: Rare Earth Magnets Market: Breakup by Magnet Type (in %), 2022
Figure 5: Global: Rare Earth Magnets Market: Breakup by Application (in %), 2022
Figure 6: Global: Rare Earth Magnet Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 7: Global: Rare Earth Magnet Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Samarium Cobalt (SmCo) Magnet Market: Sales Volume (in Tons), 2017-2022
Figure 9: Global: Samarium Cobalt (SmCo) Magnet Market: Sales Value (in Million US$), 2017-2022
Figure 10: Global: Samarium Cobalt (SmCo) Magnet Market: Breakup by Region (in %), 2022
Figure 11: Global: Samarium Cobalt (SmCo) Magnet Market: Breakup by Application (in %), 2022
Figure 12: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 13: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Samarium Cobalt (SmCo) Magnet Industry: SWOT Analysis
Figure 15: Global: Samarium Cobalt (SmCo) Magnet Industry: Value Chain Analysis
Figure 16: Global: Samarium Cobalt (SmCo) Magnet Industry: Porter's Five Forces Analysis
Figure 17: China: Samarium Cobalt (SmCo) Magnet Market: Sales Volume (in Tons), 2017-2022
Figure 18: China: Samarium Cobalt (SmCo) Magnet Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 19: USA: Samarium Cobalt (SmCo) Magnet Market: Sales Volume (in Tons), 2017-2022
Figure 20: USA: Samarium Cobalt (SmCo) Magnet Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 21: Europe: Samarium Cobalt (SmCo) Magnet Market: Sales Volume (in Tons), 2017-2022
Figure 22: Europe: Samarium Cobalt (SmCo) Magnet Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 23: Others: Samarium Cobalt (SmCo) Magnet Market: Sales Volume (in Tons), 2017-2022
Figure 24: Others: Samarium Cobalt (SmCo) Magnet Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 25: Global: Samarium Cobalt (SmCo) Magnet Market: Defence Applications (in Tons), 2017-2022
Figure 26: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Defence Applications (in Tons), 2023-2028
Figure 27: Global: Samarium Cobalt (SmCo) Magnet Market: Aerospace Applications (in Tons), 2017-2022
Figure 28: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Aerospace Applications (in Tons), 2023-2028
Figure 29: Global: Samarium Cobalt (SmCo) Magnet Market: Electronics Applications (in Tons), 2017-2022
Figure 30: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Electronics Applications (in Tons), 2023-2028
Figure 31: Global: Samarium Cobalt (SmCo) Magnet Market: Medical Devices Applications (in Tons), 2017-2022
Figure 32: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Medical Devices Applications (in Tons), 2023-2028
Figure 33: Global: Samarium Cobalt (SmCo) Magnet Market: Other Applications (in Tons), 2017-2022
Figure 34: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Other Applications (in Tons), 2023-2028
Figure 35: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Detailed Process Flow
Figure 36: Samarium Cobalt (SmCo) Magnet Manufacturing: Conversion Rate of Feedstocks
Figure 37: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 38: Samarium Cobalt (SmCo) Magnet Production: Manufacturing Cost Breakup (in %)
Table 1: Global Rare Earth Magnet Market: Key Industry Highlights, 2022 and 2028
Table 2: China: Key Rare Earth Magnet Manufacturers
Table 3: USA: Key Rare Earth Magnet Manufacturers
Table 4: Japan: Key Rare Earth Magnet Manufacturers
Table 5: Europe: Key Rare Earth Magnet Manufacturers
Table 6: Global Samarium Cobalt (SmCo) Magnet Market: Key Industry Highlights, 2022 and 2028
Table 7: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Breakup by Region (in Tons), 2023-2028
Table 8: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Breakup by Applications (in Tons), 2023-2028
Table 9: Global: Samarium Cobalt (SmCo) Magnet Market: Key Manufacturers
Table 10: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Raw Material Requirements (in Tons/Day)
Table 11: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 12: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 13: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Machinery Costs (in US$)
Table 14: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Raw Material Requirements and Expenditures (in Tons/Day)
Table 15: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 16: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 17: Details of Financial Assistance Offered by Financial Institutions
Table 18: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Capital Costs (in US$)
Table 19: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Techno-Economic Parameters
Table 20: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Income Projections (in US$)
Table 21: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Expenditure Projections (in US$)
Table 22: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Taxation (in US$)
Table 23: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Depreciation (in US$)
Table 24: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
Table 25: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
Table 26: Samarium Cobalt (SmCo) Magnet Manufacturing Plant: Profit and Loss Account (in US$)
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