Home » Business, Non Profit, Professional Services, Science, World » Permanent Magnets Market is expected to reach USD 31.18 billion by 2020: Hexa Reports
“Get key Market Research Reports and Insightful Company Profiles”
The global market for permanent magnets is expected to reach USD 31.18 billion by 2020. Growth of global automobile industry is expected to be a key driving factor for permanent magnets market over the forecast period. Permanent magnets are widely used for numerous applications in automobile industry

The global market for permanent magnets is expected to reach USD 31.18 billion by 2020. Growth of global automobile industry is expected to be a key driving factor for permanent magnets market over the forecast period. Permanent magnets are widely used for numerous applications in automobile industry. Various components such as motors, alternators and gearbox require permanent magnets for their mechanism. Grand View Research further observes that the shift in trend towards developing renewable energy generation including solar and wind energy is also expected to drive the market for permanent magnets. Permanent magnets are used in the stator of the wind turbine which is responsible for producing AC electricity.

Browse Detailed Report With TOC at:
http://www.hexareports.com/report/permanent-magnets-market-analysis-by-product-ferrite-neo-ndfeb-smco-alnico-by-application-automotive-electronics-energy-generation-and-segment-forecasts-to-2020/details

Ferrite magnets dominated the global market, accounting for over 80% of total volumes in 2012. However, in terms of revenue, ferrite magnets accounted for just over 20% of the total revenue for the same year. Ferrite magnets are relatively cheaper than other permanent magnets such as NdFeB magnets, SmCO and Alnico magnets and hence account for a relatively smaller revenue share in the overall market. NdFeB is expected to be the fastest growing product segment, at an estimated CAGR of 9.4% from 2013 to 2020. Growing awareness regarding the benefits offered by NdFeB over other magnets in high performance automotive applications is expected to drive its demand over the forecast period.

Latest Market Research Report:

China Sapphire Ingot Industry 2015 Market:
http://www.hexareports.com/report/china-sapphire-ingot-industry

China Polyvinyl Films (PVA) Industry 2015:
http://www.hexareports.com/report/china-polyvinyl-films-pva-industry


Further key findings from the study suggest:

Global permanent magnets demand is expected to reach 1,262.6 kilo tons by 2020 growing at a CAGR of 8.6% from 2013 to 2020

Automotive industry emerged as the leading application market for permanent magnets and accounted for approximately half of the total consumption in 2012. However, the shift in trend towards adoption of renewable energy including wind energy has helped energy generation to become the most attractive market for permanent magnets. Energy generation is expected to be the fastest growing application market for permanent market at an estimated CAGR of 9% from 2013 to 2020

Asia Pacific dominated the overall market for permanent magnets and accounted for 80% of the total consumption in 2012. China alone accounted for 65% of world’s demand for permanent magnets in 2012, consolidating its position as the leading permanent magnets producer as well as consumer, on account of huge rare earth metals deposits in the country which are available at an affordable price for domestic industries

China is expected to continue its dominance in the global market with its government announcing plans to increase permanent magnets capacity in the nation by 20 kilo tons by 2015

The global market for permanent magnets is highly fragmented with a large number of small Chinese manufacturers operating in the market. These small manufacturers pose threat to large manufacturers in terms of their price offerings. Some of the major companies operating in the global market for permanent magnets include Adams Magnetic Products Co., Hangzhou Permanent Magnet Group, Anhui Earth-Panda Advance Magnetic Material Co. Ltd and Hitachi Metals Ltd., Molycorp Magnequench and Shin-Etsu Chemical Co. Ltd among some other companies


Request A Sample copy of This Report at:
http://www.hexareports.com/sample/42797

For the purpose of this study, Grand View Research has segmented the global permanent magnets market on the basis of product, application and region:

Permanent Magnets Product Outlook:

Ferrite
Neo (NdFeB)
SmCO
Alnico

Permanent Magnets Application Outlook:

Automotive
Electronics
Energy Generation 
Other

Permanent Magnets Regional Outlook:

North America
Europe
China
Rest of Asia Pacific
Rest of the World


About Us:

Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Media Contact
Company Name: Hexa Reports
Contact Person: Ryan Shaw
Email: sales@hexareports.com
Phone: 1-800-489-3075
Address:Felton Office Plaza, 6265 Highway 9
City: Felton
State: California
Country: United States
Website: http://www.hexareports.com/report/permanent-magnets-market-analysis-by-product-ferrite-neo-ndfeb-smco-alnico-by-application-automotive-electronics-energy-generation-and-segment-forecasts-to-2020/details

Comments are closed.