Dublin, Jan. 03, 2024 (GLOBE NEWSWIRE) — The “Rare Earth Magnet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global rare earth magnet market size reached US$ 17.5 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 24.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.86% during 2023-2028.
Earlier, the application of rare earth magnets was largely confined to the motors and automotive industry. However, the global rare earth magnet market has recently experienced a rise in the demand from several new industries such as electronics, medical devices and actuators manufacturing. Moreover, on account of rapid urbanization, industrialization, growing penetration of electricity and increasing levels of automation in several industries, the electric motor industry is experiencing moderate growth.
As the motor industry represents one of the largest end-users of rare earth magnets, this growth is creating a positive impact on their demand. Apart from this, expansion of the wind energy generation plants on account of the growing population and increasing demand for electricity is anticipated to boost the market growth in the upcoming years.
Currently, NdFeB magnets account for the majority of the total market share as they are widely used in the field of energy. This can be accredited to their portable size, strong magnetic force and energy saving ability. As a result, these magnets are used in wind turbines, energy-efficient elevators, electric bicycles, hybrid vehicles, computer hard disk drives, medical equipment, consumer electronics, etc.
Rare earth magnets currently find myriad applications across various sectors. While NdFeB magnets are mostly utilized in the manufacturing of automobile, SmCo magnets are used in the defense sector.
Key Questions Answered in This Report:
- What was the global rare earth magnet market size in 2022?
- What are the major global rare earth magnet market drivers?
- What are the major global rare earth magnet market trends?
- What is the impact of COVID-19 on the global rare earth magnet market?
- What will be the rare earth magnet market outlook during the forecast period (2023-2028)?
- What is the global rare earth magnet market breakup by magnet type?
- What is the global rare earth magnet market breakup by application?
- What are the major regional markets in the global rare earth magnet industry?
- Who are the leading players in the global rare earth magnet industry?
Key Player Profiles
- Arnold Magnetic Technologies
- ADAMS Magnetic Products Co.
- Bunting Magnetics Co.
- Eclipse Magnetics Ltd.
- Hangzhou Permanent Magnet Group (HPMG)Ltd.
- Ningbo NGYC (Ninggang Permanent Magnetic) Materials Co. Ltd.
- Ningbo Ketian Magnet Co.Ltd. and Thomas & Skinner Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 134 |
| Forecast Period | 2022 – 2028 |
| Estimated Market Value (USD) in 2022 | $17.5 Billion |
| Forecasted Market Value (USD) by 2028 | $24.8 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Properties
4.3 Key Industry Trends
5 Global Rare Earth Magnets Industry
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Impact of COVID-19
5.4 Price Analysis
5.4.1 Key Price Indicators
5.4.2 Price Structure
5.4.3 Price Trends
5.5 Market Breakup by Region
5.6 Market Breakup by Magnet Type
5.7 Market Breakup by Application
5.8 Market Forecast
5.9 SWOT Analysis
5.9.1 Overview
5.9.2 Strengths
5.9.3 Weaknesses
5.9.4 Opportunities
5.9.5 Threats
5.10 Value Chain Analysis
5.10.1 Rare Earth Mining and Milling Companies
5.10.2 Rare Earth Oxide Manufacturers
5.10.3 Rare Earth Metal Manufacturers
5.10.4 Rare Earth Alloy Manufacturers
5.10.5 Rare Earth Magnet Manufacturers
5.10.6 Product Distribution
5.10.7 Scrap Magnets Removing and Separating Companies
5.10.8 Recycling Companies
5.11 Porter’s Five Forces Analysis
5.11.1 Overview
5.11.2 Bargaining Power of Buyers
5.11.3 Bargaining Power of Suppliers
5.11.4 Degree of Competition
5.11.5 Threat of New Entrants
5.11.6 Threat of Substitutes
5.12 Key Market Drivers and Success Factors
6 Market Performance by Magnet Type
6.1 NdFeB Magnets
6.2 SmCo Magnets
7 Market Performance by Key Regions
7.1 China
7.2 Japan
7.3 Europe
7.4 USA
8 Market Breakup by Application
8.1 NdFeB Magnets
8.1.1 Automobile
8.1.2 Electronics
8.1.3 Power Generators
8.1.4 Medical Industry
8.1.5 Wind Power
8.2 SmCo Magnets
8.2.1 Defence
8.2.2 Aerospace
8.2.3 Electronics
8.2.4 Medical Devices
9 Competitive Landscape
9.1 Competitive Structure
9.2 Key Players
10 Rare Earth Magnet 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 Layout
11.4 Plant Machinery
11.5 Machinery Pictures
11.6 Raw Material Requirements and Expenditures
11.7 Raw Material and Final Product Pictures
11.8 Packaging Requirements and Expenditures
11.9 Transportation Requirements and Expenditures
11.10 Utility Requirements and Expenditures
11.11 Manpower Requirements and Expenditures
11.12 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 and Margins Across Various Levels of the Supply Chain
13.4 Taxation and Depreciation
13.5 Income Projections
13.6 Expenditure Projections
13.7 Financial Analysis
13.8 Profit Analysis
For more information about this report visit https://www.researchandmarkets.com/r/ss7cj7
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- Global Rare Earth Magnet Market
