Permanent Magnet Market Size, Share, Revenue and Business Opportunities 2022 Report

The Permanent Magnet research report studies primary and secondary research in order to analyze the data effectively. The market study further also draws attention to crucial industry factors such as global clients, potential customers, and sellers, which instigates positive company growth. In order to gauge the turning point of the businesses, significant market key players are also enlisted in order to deliver readers with in-depth analysis about industry strategies.

The Permanent Magnet report is highly structured into a region-wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the market. The study helps understand how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR.

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The global Permanent Magnet 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.

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.

Reason to access this report:
The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall Permanent magnet and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.

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This release was published on openPR.