Rare earth magnets are strong permanent magnets made from the alloys of rare earth elements producing magnetic fields stronger than other magnets such as Ferrite, Alnico, etc. Currently, there are two types of rare earth magnets, namely, NdFeB and SmCo magnets. According to IMARC Group’s new report titled, “Rare Earth Magnet Manufacturing Plant Project Report: Industry Trends, Manufacturing Process, Machinery, Raw Materials, Cost and Revenue”, the global market for rare earth magnets has grown at a CAGR of 9% in the last 7 years. Of the two types of rare earth magnets, NdFeB magnets currently accounts for most of the total global rare earth magnet volumes, with China being the largest producer and consumer.
A wide range of applications have led to the growth of the rare earth magnets industry, with motors and generators accounting for majority of the total global consumption. These magnets have brought about a transformation in most modern technology. One of the main forces driving the growth of the rare earth magnets industry is the increasing awareness of clean technology, with support from governments across the world.
Some of the areas where the consumption of rare earth magnets is high are:
- Small sized technology, such as the cell phones and laptop computers
- Defence industry, especially in cruise missiles, precision guided ammunitions, radar systems and reactive armours
- Green technology such as wind powered turbines and plug-in hybrid vehicles
- Magnetic refrigeration – an emerging technology
Findings suggest that although alternate technologies are in research and some already exist, rare earth magnets are unlikely to be substituted as a major input for green technologies and high efficiency consumer and industrial devices. This provides a tremendous scope for anyone who plans to venture into setting up a plant for manufacturing rare earth magnets. Experts at IMARC Group have identified this opportunity and released their latest report titled, “Rare Earth Magnet Manufacturing Plant Project Report: Industry Trends, Manufacturing Process, Machinery, Raw Materials, Cost and Revenue”. This report gives a comprehensive insight into all the aspects of setting up a rare earth magnet manufacturing plant. This report gives an insight into the viability of setting up a rare earth magnets manufacturing plant and answers some of the key questions that any investor may have while setting up such a plant. These include:
- Global market trends
- Different types and applications of rare earth magnets
- Key success and risk factors
- Detailed process flow
- Various types of unit operations involved
- Land, location and site development
- Machinery required
- Raw material, utilities and manpower required
- Infrastructure and capital costs involved
- Operating costs
- Income and expenditure projections
- Cash flow analysis
- Time required to break-even
The report, which is based on both desk based research and multiple waves of primary research is a must read for anyone who plans to setup a rare earth magnets manufacturing plant.
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About IMARC Group
The International Market Analysis Research and Consulting Group is a leading adviser on 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.
IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.
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Company Name: IMARC Group
Contact Person: Krishna Sharma
State: Uttar Pradesh