[123 Pages Report] Rare Earth Magnet Market Insights 2022 The rare earth permanent magnet material refers to an alloy formed of rare earth metal and a transition metal. This permanent magnet material made by a certain process is extremely magnetic and can be maintained for a long time.
The rare earth permanent magnet material refers to an alloy formed of rare earth metal and a transition metal. NdFeB is the third generation of Magnet that takes more than 98% of world demand. Rare Earth Magnet market can be categorized as sintered magnet, hot press magnet and bonded magnet in terms of manufacture process. Sintered magnet is the major type that takes 93.82% of world production in 2018. The volume of bonded magnet is 9557 MT in 2018, which takes 5.35% of world production. Due to the monopoly of hot-pressed NdFeB, the price of raw materials even exceeds the price of hot-pressed NdFeB products. Therefore, only the same Japanese company in the world has an annual sales volume of 1,000 tons, and hot-pressed NdFeB has not yet formed an industry.
The technical barriers of low end Rare Earth Permanent Magnets are relatively low. The manufacturing bases concentrated distribution in China and Japan; some of the key players dominating this market are Hitachi Metals Group, Shin-Etsu, TDK, VAC, Beijing Zhong Ke San Huan Hi-Tech, Yunsheng Company, and others.
Scope of the Rare Earth Magnet Market Report :
The worldwide Market for Rare Earth Magnet is valued at 7688.4 million USD in 2020 is expected to reach 11610 million USD by the end of 2026, growing at a CAGR of 6.0% during 2021-2026.
This report focuses on the Rare Earth Magnet in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
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Leading key players of Rare Earth Magnet Market are:
Rare Earth Magnet Market Type Segment Analysis (Rare Earth Magnet Market size available for years 2022-2027, Consumption Volume, Average Price, Revenue, Market Share and Trend 2015-2026): Rare-earth Sintered Magnet, Rare-earth Bonded Magnet
Rare Earth Magnet Market Applications Segment Analysis: Automotive, Aerospace & Defense, Power Generation , Consumer Goods & Electronics, Industrial Machinery
Regions that are expected to dominate the Rare Earth Magnet market are North America, Europe, Asia-Pacific, South America, Middle East and Africa and others
If you have any question on this report or if you are looking for any specific Segment, Application, Region or any other custom requirements, then Connect with an expert for customization of Report.
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