Permanent Magnet Market would be worth $18,800 Million, with CAGR of Nov 2014 | Page 2
The enormous potential of this market attracts various small and big level industry players. The
permanent magnets market is globally growing at a rapid pace. Though the market size is large
in Asia-Pacific, it is growing at a fast pace due to rising demand from end-user industries,
especially in countries such as China and Japan. The market is growing slowly in Europe, but
will continue to grow at a significant rate in the North American region. The permanent magnet
market is still in its infancy in Africa and Latin America, but these regions are experiencing high
growth on account of increased infrastructure spending and a low base effect. The market will
experience an escalation in the demand of permanent magnets in the years to come.
The permanent magnet market has a number of small manufacturers coupled with a few medium
sized manufacturers. The market is dominated by Chinese manufacturers. There is a scarcity of
manufacturers that are scattered globally for rare earth magnets. Only a few companies in the
world offer alnico or ferrite magnets and the ones that do so produce them in small quantities. To
source rare earth magnets, long term supply contracts have to be inked so as to provide the buyer
with a buffer from fluctuating magnet prices.
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The customers therefore have a limited number of options from which they can buy the right
product that meets their specifications both technically and economically. Only a few big
companies such as Hitachi Metals (Japan) and Shin-Etsu (Japan) offer permanent magnets for
almost all end-user segments. A majority of the companies in this market have been relying on
expansion (either geographic or capacity expansion) as a growth strategy for this market to
increase their sales margin. The companies have also undertaken R&D to develop highly
sophisticated products.
This report covers the permanent magnets market and its trends that concern five major
geographical regions such as Asia-Pacific, Europe, North America, Latin America, and Middle
East & Africa, under various major end-user industries, namely, consumer electronics, general
industrial, automotive, medical technology, environment & energy, aerospace & defense, and
other end-user industries. Also, the types of permanent magnets that are identified and inc