Permanent Magnet Market

Expansions and New Product Launches are the key Strategies Adopted by the Leading Players in the Global Permanent Magnet Market

The global permanent magnet market was valued at USD 13.57 Billion in 2015 and is projected to reach USD 22.67 Billion by 2021, at a CAGR of 8.8% from 2016 to 2021. Expansions and new product launches are the strategies adopted by the key players to strengthen their position in the global permanent magnet market. The maximum number of strategic developments undertaken between 2012 and 2016 took place in Asia-Pacific, followed by Europe and North America.

Key players operating in the global permanent magnet market are 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.), and Bunting Magnetics Co. (U.S.).

Daido Steel Co., Ltd. (Japan) is a key player in the global permanent magnet market. The company has been focusing on expansions and new product launches as a part of its strategic development activities. In June 2013, the company launched the new J and H series nano-granular TMR type magnetic sensors. These products helped the company expand its offerings within the consumer and industrial markets. In May 2012, the company constructed a new neodymium magnet plant in China. This expansion helped the company meet the growing demand for neodymium magnet for electric appliances and machineries applications in China.

Arnold Magnetic Technologies (U.S.) is another major permanent magnet manufacturer, globally. The company has been focusing on new product launches to strengthen its market. For instance, in March 2016, the company launched RECOMA 35E samarium cobalt (SmCo) permanent magnet. The product is used in aerospace, electric motors, and automotive applications.

This report provides a detailed analysis of the global permanent magnet market and segments the same based on type, end-use industry, and region. Based on type, the permanent magnet market has been segmented into neodymium iron boron magnet, ferrite magnet, samarium cobalt magnet, alnico magnet, and others. Based on end-use industry, the market has been segmented into consumer electronics, general industrial, automotive, environment & energy, aerospace & defense, and others. Based on region, the market has been segmented into the Asia-Pacific region, Europe, North America, South America, and the Middle East & Africa.

Related Reports:

Permanent Magnet Market by Type (Neodymium Iron Boron Magnet, Ferrite Magnet, Samarium Cobalt Magnet), End-Use Industry (Consumer Electronics, General Industrial, Automotive, Medical Technology, Environment & Energy) - Global Forecast to 2021

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Report Code
CH 5116
Published ON
Mar, 2017
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