Permanent Magnet Market Expected to Grow at 54.1 Billion In Revenue by 2026

Global Permanent Magnet Market 2021-2026, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. An exclusive data offered in this report is collected by research and industry experts team.

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The global Permanent magne Permanent magt market is expected to grow from USD 34.4 billion in 2021 to USD 54.1 billion by 2026, at a CAGR of 9.5% during the forecast period. This report spread across 228 Pages, Profiling 18 Companies and Supported with xx Tables and xx figures are now available in this research.

Top Key Players Profiled in the Permanent Magnet Market:
• Hitachi Metals, Ltd. (Japan)
• TDK Corporation (Japan)
• Shin-Etsu Chemical Co., Ltd. (Japan)
• Electron Energy Corporation (US)
• Adams Magnetic Products Co., Inc. (US)
• Bunting Magnetics Co. (US)
• Tengam Engineering, Inc. (US)
• Yantai Shougang Magnetic Materials Inc. (Japan)
• Ningbo Yunsheng Co. Ltd. (China)
• Chengdu Galaxy Magnets Co., Ltd. (China)
• Goudsmit Magnetics (Netherlands)
• Eclipse Magnetics (US)
• Arnold Magnetic Technologies (US)

The neodymium iron boron magnet market is expected to witness high growth because of the growing demand for miniaturization of various equipment. They are the most preferred permanent magnets owing to their strong magnetic properties. These magnets are made of alloys of neodymium, iron, and boron. They can be made in blocks, rings, discs, arcs, triangle, and spheres.

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The demand for permanent magnet in consumer electronics industry is expected to increase mainly due to improving standards of living and rising disposable income in the APAC region. In the consumer electronics segment, permanent magnets are used in magnetic heads of Hard Disk Drives (HDD), CDs, as well as in motors of peripheral devices such as printers, fax machines, scanners, and photocopies.

APAC is projected to have the highest growth in the permanent magnet and will expand significantly by 2026. This dominance is attributed to the rising demand from domestic industries in the region. The demand for permanent magnet is growing, especially, in APAC and South America. The markets in these regions are expected to register high growth in comparison to other regions. The growth of the permanent magnet market in the APAC region is also driven by foreign investment and availability of low cost labor and raw materials.

Breakdown of primary participants’ profile:
• By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%
• By Designation- C Level- 50%, Director Level- 20%, and Others- 30%
• By Region- North America- 15%, Europe- 50%, Asia Pacific (APAC) - 20%, South America-5%, Middle East & Africa (MEA)-10%,

Competitive Landscape of Permanent Magnet Market:
1 Introduction
2 Market Share Analysis
3 Market Rankings
3 Market Evaluation Framework
3.1 Product Launches And Developments
3.2 Expansions
3.3 Agreements, Collaborations, Joint Ventures, And Partnership
3.4 Mergers & Acquisitions
5 Strength Of Product Portfolio
6 Business Strategy Excellence

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Research Coverage:
This report covers the global Permanent magnet and forecasts the market size until 2026. It includes the following market segmentation-By magnet type (Neodymium Iron Boron Magnets, Ferrite Magnets, Samarium Cobalt Magnets, Alnico Magnets and Others), end-use (Consumer Electronics, General Industrial, Automotive, Medical Technology, Environment & Energy, Aerospace & Defense and Others), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2026.

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