Global Permanent Magnets Market is Expected to Rise at a Remarkable CAGR by 2022

The Global Permanent Magnets market is accounted for $17.3 billion in 2014, and is projected to register a CAGR of 9.2% to reach $35.1 billion by 2022. The permanent magnets market growth has been impelled by accessibility of fine quality neo magnets and ferrite magnets with lesser dysprosium content, which are also expected to lead the market with rapid growth during the forecast period.

Request a free sample copy of Report with Table of contents@ http://www.orbisresearch.com/contacts/request-sample/232921

Growth of global automobile industry is estimated to be a key factor driving permanent magnets market. Factors such as significant growth of automotive industry owing to rising population and technological advancement are the primary driving factors for the permanent magnets market. They are extensively used for a varied range of applications in automotives including economy and pollution control. Permanent magnets are required in components such as gearboxes, alternators and motors in their mechanism. In battery components, engine components, moving car parts and other integral systems large magnets, predominantly NdFeB and ferrite are used. However, factors such as absence of quality control spread across developing countries, variation in costs of raw materials and incompetence to undertake massive investments required in R&D and technology are hampering the growth of this market.

Changing trend towards renewable energy has also contributed to the growth of permanent magnets market. Permanent magnets play a major role in wind energy generation. As the energy is a scarce resource and demand for energy is continuously increasing, the renewable energy plays a crucial role. Permanent magnets are also used in wind turbine which is liable for generating AC electricity.

On the other hand, an unpredictable price of raw materials including Neodymium (Nd), Dysprosium (Dy), Boron (B) and Iron (Fe) is expected to hamper the market growth over the projected period. Many large scale manufacturers had to substitute NdFeB magnets with ferrite magnets for certain automotive and wind energy generation applications due to the price variation, while other medium scale and small scale companies were extensively affected, resulting in termination.

Some of the key players in permanent magnets market are Arnold Magnetic Technologies, Adams Magnetic Products Co, Dexter Magnetic Technologies Inc, Electron Energy Corporation, Hitachi Metals Ltd, Lynas Corporation Ltd, Molycorp Inc, Shin-Etsu Chemical Co. Ltd, Tengam Engineering Inc, and Ningbo Yunsheng Co. Ltd

Products Covered:
Ferrite
Alnico
Neo (NdFeb)
SmCo

Enquiry Before buying Report@ http://www.orbisresearch.com/contacts/enquiry-before-buying/232921

Applications Covered:
Electronics
Automotive
Energy Generation
Others
Regions Covered:
North America
US
Canada
Europe
Germany
France
Italy
UK
Spain
Asia Pacific
Japan
China
India
Australia
New Zealand
Rest of Asia
Rest of the World
Latin America
Middle East
Africa
Others

About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customised reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialisation. This helps our clients to map their needs and we produce the perfect required market research study for our clients.

Contact Us:
Hector Costello
Senior Manager – Client Engagements
4144N Central Expressway,
Suite 600, Dallas,
Texas – 75204, U.S.A.
Phone No.: +1 (214) 884-6817; +912064101019
Email ID: sales@orbisresearch.com

This release was published on openPR.