Market New Research Permanent Magnetic Materials Market Trends, 2022 | Page 2

The ferrite rods in use in electronics industry with low cost of obtaining raw materials in their manufacture of ferrite
rods are slated to propel its demand over forecast period. The abundance of ferrite magnets has led to its use in
loudspeakers, magnetic motors and toys. Neodymium magnets are used in automobiles and with major strength of
auto mobile makers situated in Germany, Neodymium magnets will bolster growth in the region.
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Samarium Cobalt is a permanent magnet that is expected to witness good growth in medical devices, consumer
electronics products and sensors. The automotive application is about to witness large growth in motors, gearboxes
and alternators. There is a very waxing need by consumers for automobiles in automotive industry and in turn this
credits growth to permanent magnets industry.
Medical application oversees the growth of products by use in MRI and CT scanners. Permanent magnets are
henceforth used in magneto puncture, drug quality evaluation and blood monitoring systems and succinctly drive
growth for permanent magnets markets over the forecast period. Asia Pacific is driving growth in permanent magnet
market because of wide availability of raw materials in the region and low labor costs fuel additional growth in the
market.
Segmentation of permanent magnetic materials market by material includes Aluminum Nickel Cobalt, ferrite
Samarium Cobalt, Neodymium Iron Boron. By application, permanent magnetic materials market includes automotive,
electronics, industrial, and energy, aerospace and medical. By geographical regions, segmentation of permanent
magnetic materials industry includes North America, Europe, Asia Pacific, MEA and Latin America. The fragmented
nature of market that is clustered with large many players operating in a small market place. The key players in the
permanent magnetic materials markets include Hangzhou permanent Market Group, Molycorp Magnaquench, Hitachi
Metals Limited, Adams Magnetic Products Ltd and Shin-Etsu Chemical Ltd.
Market Segment:
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million
USD), market share and growth rate of Permanent Magnetic Materials in these regions, from 2012 to 2022
(forecast), covering
• North America
• Europe
• China
• Japan