Learn about the global permanent magnet market through The Business Research Company, which provides information on permanent magnet market size, permanent magnet market drivers and restraints, permanent magnet market players, the COVID-19 impact on the permanent magnet market, and more.

The global permanent magnet market size is expected to grow from $26.59 billion in 2021 to $29.61 billion in 2022 at a compound annual growth rate (CAGR) of 11.37%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The permanent magnets market is expected to reach $46.65 billion in 2026 at a CAGR of 12.03%.

The increasing demand from the automobile applications is expected to propel the growth of the permanent magnet market.

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The permanent magnet market consists of sales of permanent magnets by entities (organizations, sole traders, and partnerships) that include rare earth elements, nickel and cobalt. Permanent magnets preserve its magnetic characteristics in the absence of a magnetizing force, such as a current or an inducing field. It is used in speakers, microphones, credit and debit cards, magnetic resonance imaging in hospitals and in electric vehicles.

Global Permanent Magnet Market Segments Include:
By Type: Ferrite Magnets, Samarium Cobalt Magnets, Alnico Magnets, Neodymium Iron Boron Magnets

By Sales Channel Type: Direct Sales, Distributors

By End-Use: General Industrial, Automotive, Medical Technology, Environment and Energy, Aerospace and Defense, Consumer Electronics

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the permanent magnet market in 2021.

The technological transitions is a key trend gaining popularity in the permanent magnet market. Technological transition is a method of movement of data, designs, inventions, materials, software, technical expertise, or trade secrets from one organization to another or from one purpose to another.

TBRC’s permanent magnet market report covers:

Major Market Players: Arnold Magnetic Technologies, Electron Energy Corporation, Daido Steel Co., Ltd., Chengdu Galaxy Magnets Co. Ltd., Shin-Etsu Chemical Co. Ltd., Goudsmit Magnetics, Adams Magnetic Products Co. Ltd., Bunting Magnetics Co., Tengam Engineering Inc., Yantai Shougang Magnetic Materials Inc., Ningbo Yunsheng Co. Ltd., Eclipse Magnetics, Hangzhou Permanent Magnet Group, Anhui Earth-Panda Advance Magnetic Material Co. Ltd, and Magnequench International LLC.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Permanent Magnet Global Market Report 2022 –Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides permanent magnet market overviews, analyzes and forecasts market size, share, permanent magnet market players, permanent magnet market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s permanent magnet market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here Is A List Of Similar Reports From The Business Research Company:

Metal Global Market Report 2021

Metal And Mineral Global Market Report 2021

Rare Earth Metals Global Market Report 2021

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