Global Permanent Magnet Market Overview 2018: Growth, Demand and Forecast Research Report to 2023


Posted August 27, 2018 by imarcgroup

The global permanent magnet market has witnessed a healthy growth over the past few years.
 
The increasing efforts by various countries towards reducing carbon footprints along with rising applications of permanent magnets in automobiles have provided a positive thrust to the market growth.

The recently published report by IMARC Group, titled “Global Magnet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global permanent magnet market reached a value of US$ 17 Billion in 2017, registering a CAGR of 7% during 2010-2017. Permanent magnets can maintain a large magnetic flux in the absence of an applied magnetic field or upon modification of external environment. As they enable the operation of various devices by transforming energy from one form to another, permanent magnets form a crucial part of the modern lifestyle. They find applications in magnetic sensors, power generation, microwave communications, transportation, magnetic recording, energy conversion, etc. Owing to this, they can be found in a number of devices ranging from air-conditioners and washing machines to mobile phone speakers and electric motors.

Want more information about this market? Request a free report sample: https://www.imarcgroup.com/request?type=report&id=565&flag=B

Global Permanent Market Summary:

On the basis of type, ferrite magnets are the most popular type of permanent magnets, accounting for the majority of the global share. This can be attributed to increased corrosion resistance offered by these magnets. Other major types of permanent magnet include Neodymium Iron Boron (NdFeB), Aluminium Nickel Cobalt (AlNiCo) and Samarium Cobalt (SmCo).
Based on application, the market has been segmented into computer hard disk drives (HDD), CD, DVD, hybrid electric vehicles, electric bicycles, heating, ventilating and air conditioners (HVAC), wind turbines and others.
On a geographical front, China dominates the market, representing the largest producer and consumer of permanent magnets. Other major regions include Japan, the United States and Europe.
The competitive landscape of the market has also been examined with some of the key players being Advanced Technology & Materials Co. Ltd, VACUUMSCHMELZE GmbH & Co. KG, Beijing Zhong Ke San Huan Hi-Tech Co. Ltd, Adams Magnetic Products Co., TDK Corporation, Arnold Magnetic Technologies, Shin-Etsu Chemical Co. Ltd. and Bakker Magnetics BV.

Source: https://www.imarcgroup.com/permanent-magnets-market
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Kanika Sharma
Website https://www.imarcgroup.com/
Phone 6317911145
Business Address 309 2nd St, Brooklyn, NY 11215, USA
Country United States
Categories Business
Tags permanent magnet market , permanent magnet market share , permanent magnet market size , permanent magnet market trends
Last Updated August 27, 2018