Evertise
05 May 2021, 01:54 GMT+10
The global rare earth magnets market reached a value of US$ 14.4 Billion in 2020. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.
Rare earth magnets are strong permanent magnets that assist in product miniaturization, improving performance and reducing manufacturing costs. They have significantly higher magnetic stability and field strength than ferrite (ceramic) and alnico magnets. Rare earth magnets, including alloys of neodymium, samarium, and dysprosium, are industrially manufactured through casting or sintering. Unlike electromagnets, rare earth magnets do not lose their magnetic property unless they are heated above the Curie temperature.
For more information about this report visit: https://www.imarcgroup.com/rare-earth-magnet-manufacturing-plant
Market Trends
The growth of the automotive industry primarily drives the global rare earth magnet market. However, the rising product application in the manufacturing of motors, separators, printers, microphones, automotive starters, acoustic transducers, and computer disc drives is also bolstering the market growth. Besides this, due to the rapid urbanization, industrialization and the growing penetration of electricity, the electric motor industry has witnessed strong growth. This industry represents one of the largest end users of rare earth magnets, thereby boosting their sales around the world. Furthermore, the significant expansion in the wind energy generation sector due to the increased demand for electricity is expected to create a positive outlook for the market in the upcoming years.
Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Also read: Transformer Oil Market Booming Worldwide with leading Players Calumet Specialty Products (NASDAQ: CLMT), Cargill, Engen Petroleum, Ergon Inc., Eden Oils, Hydrodec Group, Nynas, PetroChina, San Joaquin Refining Co. Inc., Sinopec, Valvoline, etc.
The report by IMARC Group has examined the global rare earth magnets market on the basis of:
Market by Type:
Neodymium-iron-boron magnets (NdFeB)
Samarium cobalt magnets (SmCo)
Region:
China
Japan
Europe
USA
Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/rare-earth-magnet-manufacturing-plant/requestsample
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Contact Us
IMARC Group
USA: +1-631-791-1145
Email: [email protected]
Website: https://www.imarcgroup.com
Follow us on twitter : @imarcglobal
Get a daily dose of Charlotte Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Charlotte Star.
More InformationCHICAGO, Illinois: McDonald's is bringing back its much-loved Snack Wrap in the U.S. starting July 10. The wrap, which includes chicken,...
GOODLETTSVILLE, Tennessee: Dollar General reported record sales of US$10.44 billion for the latest quarter and raised its full-year...
SOUTH BURLINGTON, Vermont: Beta Technologies has become the first U.S. company to land an all-electric aircraft at an airport in the...
WASHINGTON, D.C. Forget bucket lists; this summer, it's all about budget lists. Amid economic uncertainty and a weaker dollar, Americans...
MENLO PARK, California: As artificial intelligence demands explode, Big Tech is turning to an old source for new power: nuclear energy....
NEW YORK, New York - U.S. stocks rose appreciably Friday following the release of a strong jobs report which sent the U.S. dollar higher,...
CHICAGO, Illinois: McDonald's is bringing back its much-loved Snack Wrap in the U.S. starting July 10. The wrap, which includes chicken,...
GOODLETTSVILLE, Tennessee: Dollar General reported record sales of US$10.44 billion for the latest quarter and raised its full-year...
SOUTH BURLINGTON, Vermont: Beta Technologies has become the first U.S. company to land an all-electric aircraft at an airport in the...
WASHINGTON, D.C. Forget bucket lists; this summer, it's all about budget lists. Amid economic uncertainty and a weaker dollar, Americans...
MENLO PARK, California: As artificial intelligence demands explode, Big Tech is turning to an old source for new power: nuclear energy....
NEW YORK, New York - U.S. stocks rose appreciably Friday following the release of a strong jobs report which sent the U.S. dollar higher,...