Permanent Magnet Market Worth 22.67 Billion USD by 2021


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

Seattle, WA — (SBWIRE) — 06/19/2017 — The report "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", is valued at USD 14.90 Billion in 2016 and is projected to grow at a CAGR of 8.8% to reach USD 22.67 Billion by 2021. The permanent magnet market is mainly driven by the increasing demand for efficiency and miniaturization in various applications such as switches, lifts, and sensors and the growing automotive industry in Asia-Pacific. In automobiles, permanent magnet is mainly used in motors, sensors, switches, and actuators, among others.

Browse 100 market data tables and 57 figures spread through 169 pages and in-depth TOC on "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"

http://www.marketsandmarkets.com/Market-Reports/permanent-magnet-market-806.html

Early buyers will receive 10% customization on reports.

Neodymium iron boron magnet segment to register the highest CAGR in the global permanent magnet market between 2016 and 2021

The global permanent magnet market is segmented by type into neodymium iron boron magnet, ferrite magnet, samarium cobalt magnet, alnico magnet, and others. The market for neodymium iron boron magnet is expected to grow at the highest CAGR in the global permanent magnet market from 2016 to 2021. The higher CAGR for neodymium iron boron magnet segment over other types is due to the rising demand from the wind turbines, brushless DC motors, MRI, magnetic separation, and others applications. It offers advantages such as high heat resistance, coercivity, and remanence.

Download PDF Brochure: http://www.marketsandmarkets.com/pdfdownload.asp?id=806

Automotive to be the fastest-growing end-use industry segment in the global permanent magnet market during the forecast period

The automotive industry is projected to be the fastest growing end-use industry segment in the global permanent magnet market during the forecast period mainly due to the rising permanent magnet demand in the electric steering, electric braking, electric throttle actuation, auto-clutch, and gearbox actuation application. The demand for automotive industry is estimated to witness the highest CAGR in the Asia-Pacific region due to the increasing demand for electric and hybrid vehicles in the region. In addition, improving standards of living and increasing disposable income in emerging countries such as India, China, and South Korea are driving the growth of the automotive industry.

Speak To Analyst: http://www.marketsandmarkets.com/speaktoanalyst.asp?id=806

South America to be the fastest-growing market for permanent magnet during the forecast period

The South America region permanent magnet market is expected to witness the highest CAGR between 2016 and 2021. Stable economic growth in the South America region, coupled with the rising disposable income, is driving the market for permanent magnet. In addition, increased demand for permanent magnet in key countries such as Brazil and Argentina is also contributing to the growth of the permanent magnet market in the region.

Currently, the global permanent magnet market is led by various market players such as 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.), among others.

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
Tel: 1-888-600-6441
Email: sales@marketsandmarkets.com
Visit our Blog @ http://www.marketsandmarketsblog.com/market-reports/chemical
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets

For more information on this press release visit: http://www.sbwire.com/press-releases/permanent-magnet-market-worth-2267-billion-usd-by-2021-822528.htm

Media Relations Contact

Mr. Rohan
Telephone: 888-600-6441
Email: Click to Email Mr. Rohan
Web: http://www.marketsandmarkets.com