The global magnet market was worth US$ 19.5 Billion in 2019. A magnet refers to any material that produces a magnetic field and is capable of attracting iron, nickel and cobalt and objects containing these metals. It is made of a group of materials called ferromagnetic metals, such as nickel and iron, which have the unique property of being able to be magnetized uniformly. Over the years, the demand for magnets has escalated around the world as they are used in a wide range of devices used today, from air-conditioners and washing machines to speakers and hybrid cars.
Magnets are used in various home appliances such as refrigerators, vacuum cleaners, lawnmowers and garden tractors. They also play a critical role in the functioning of multiple medical devices, particularly magnetic resonance imaging (MRI) machines, hearing aids, and ventricular assist devices (VAD). Besides this, their strong magnetic strength allows for significant product miniaturization, improved product performance and reduced manufacturing costs. Apart from this, the reduction in the emissions of CO2 and other greenhouse gases in line with the Kyoto Protocol is rapidly emerging as a major global agenda. Owing to this, governments of various countries are focusing on using energy-saving technologies and devices that can help them in reducing their carbon footprints. Moreover, manufacturers have introduced magnetic levitation (maglev), a relatively new transportation technology, in which non contacting vehicles travel safely at a speed of 250 to 300 miles-per-hour or higher while suspended, guided and propelled above a guideway by magnetic fields. This technology has the potential to grow in the near future, thereby creating a strong demand for magnets. Looking forward, IMARC Group further expects the market to reach US$ 27.5 Billion by 2025, at a CAGR of 5.9% during the forecast period (2020-2025).
Breakup by Magnet Type:
- Ferrite
- Neodymium Iron Boron (NdFeB)
- Aluminium Nickel Cobalt (AlNiCo)
- Samarium Cobalt (SmCo)
Amongst these, ferrite is the most popular type of magnets, accounting for the majority of the overall market share. They are used in speakers, MRI machines, DC motors, and magnet-based holders, lifters, separators, assemblies and tools.
Breakup by Application:
- Computer Hard Disk Drives (HDD), CD, DVD
- Hybrid Electric Vehicles
- Electric Bicycles
- Heating, Ventilating and Air Conditioners (HVAC)
- Wind Turbines
- Other Applications
- Transducers and Loudspeakers
- Magnetic Separation Equipment and Sorters
- Magnetic Resonance Imaging (MRI)
- Magnetic Braking Systems
- Magnetically Levitated Transportation Systems
- Medicine and Health
- Credit Cards and other ID Cards
- Traveling Waves Tubes (TWT)
- Advertising and Promotional Products
- Magnetic Refrigeration system
- Nanotechnology
- Military and Aerospace
- Energy Storage Systems
At present, the major share of magnets is used in computer hard disk drives (HDD), CDs and DVDs, where the magnet is used both for driving the spindle motor and for positioning the read/write head.
Regional Insights:
- China
- Japan
- USA
- Europe
- Other regions
On the geographical front, China represents the world’s largest market for permanent magnets and currently accounts for nearly two-thirds of the global market.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, providing the detailed profiles of the major players operating in the industry.
Key Questions Answered in This Report:
- What are the historical, current and future trends in the global permanent magnet market?
- Which are the key permanent magnet types?
- How have the various types of permanent magnets performed in the market?
- What are the historical, current and future trends in the Ferrite magnet market?
- What are the historical, current and future trends in the Neodymium Iron Boron (NdFeB) magnet market?
- What are the historical, current and future trends in the Aluminum Nickel Cobalt (AlNiCo) market?
- What are the historical, current and future trends in the Samarium Cobalt (SmCo) market?
- Which countries represent the biggest markets for permanent magnets and how have they performed?
- What are the historical, current and future trends in the Chinese magnet market?
- What are the historical, current and future trends in the US magnet market?
- What are the historical, current and future trends in the European magnet market?
- What are the historical, current and future trends in the Japanese magnet market?
- What are the major applications of permanent magnets and what are their market shares?
- How are permanent magnets manufactured?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
5 Global Permanent Magnet Market
5.1 Market Overview
5.2 Volume Trends
5.3 Value Trends
5.4 Market Breakup by Type
5.5 Market Forecast
5.6 Value Chain Analysis
5.7 Pricing Mechanism and Profit Margins at Various Levels of the Supply Chain
5.8 SWOT Analysis
5.8.1 Overview
5.8.2 Strengths
5.8.3 Weaknesses
5.8.4 Opportunities
5.8.5 Threats
5.9 Porter’s Five Forces Analysis
5.9.1 Overview
5.9.2 Bargaining Power of Buyers
5.9.3 Bargaining Power of Suppliers
5.9.4 Degree of Competition
5.9.5 Threat of New Entrants
5.9.6 Threat of Substitutes
5.10 Key Success and Risk Factors for Manufacturers
6 Global Permanent Magnet Market by Magnet Type
6.1 Ferrite
6.1.1 Volume Trends
6.1.2 Value Trends
6.1.3 Market by Region
6.1.4 Major Applications
6.1.5 Market Forecast
6.2 Neodymium Iron Boron (NdFeB)
6.2.1 Volume Trends
6.2.2 Value Trends
6.2.3 Market by Region
6.2.4 Major Applications
6.2.5 Market Forecast
6.3 Aluminium Nickel Cobalt (AlNiCo)
6.3.1 Volume Trends
6.3.2 Value Trends
6.3.3 Market by Region
6.3.4 Major Applications
6.3.5 Market Forecast
6.4 Samarium Cobalt (SmCo)
6.4.1 Volume Trends
6.4.2 Value Trends
6.4.3 Market by Region
6.4.4 Major Applications
6.4.5 Market Forecast
7 Global Permanent Magnet Market by Region
7.1 China
7.1.1 Current and Historical Market Trends
7.1.2 Market Forecast
7.2 Japan
7.2.1 Current and Historical Market Trends
7.2.2 Market Forecast
7.3 USA
7.3.1 Current and Historical Market Trends
7.3.2 Market Forecast
7.4 Europe
7.4.1 Current and Historical Market Trends
7.4.2 Market Forecast
7.5 Other Regions
7.5.1 Current and Historical Market Trends
7.5.2 Market Forecast
8 Global Permanent Magnet Market by Application
8.1 Computer Hard Disk Drives (HDD), CD, DVD
8.2 Hybrid Electric Vehicles
8.3 Electric Bicycles
8.4 Heating, Ventilating and Air Conditioners (HVAC)
8.5 Wind Turbines
8.6 Other Applications
8.6.1 Transducers and Loudspeakers
8.6.2 Magnetic Separation Equipment and Sorters
8.6.3 Magnetic Resonance Imaging (MRI)
8.6.4 Magnetic Braking Systems
8.6.5 Magnetically Levitated Transportation Systems
8.6.6 Medicine and Health
8.6.7 Credit Cards and other ID Cards
8.6.8 Travelling Waves Tubes (TWT)
8.6.9 Advertising and Promotional Products
8.6.10 Magnetic Refrigeration system
8.6.11 Nanotechnology
8.6.12 Military and Aerospace
8.6.13 Energy Storage Systems
9 Key Players in the Global Magnet Market
10 Requirements for Setting-up a Permanent Magnet Manufacturing Plant
10.1 Ferrite
10.1.1 Manufacturing Process
10.1.2 Raw Material Requirements
10.1.3 Land and Construction Requirements
10.1.4 Machinery and Infrastructure
10.1.5 Machinery Pictures
10.1.6 Plant Layout
10.1.7 Packaging Requirements
10.1.8 Utility Requirements
10.1.9 Manpower Requirements
10.2 Neodymium Iron Boron (NdFeB)
10.2.1 Manufacturing Process
10.2.2 Raw Material Requirements
10.2.3 Land and Construction Requirements
10.2.4 Machinery and Infrastructure
10.2.5 Machinery Pictures
10.2.6 Plant Layout
10.2.7 Packaging Requirements
10.2.8 Utility Requirements
10.2.9 Manpower Requirements
10.3 Samarium Cobalt (SmCo)
10.3.1 Manufacturing Process
10.3.2 Raw Material Requirements
10.3.3 Land and Construction Requirements
10.3.4 Machinery and Infrastructure
10.3.5 Machinery Pictures
10.3.6 Plant Layout
10.3.7 Packaging Requirements
10.3.8 Utility Requirements
10.3.9 Manpower Requirements
11 Drivers of the Global Permanent Magnets Industry
12 Challenges Faced by the Magnet Industry
13 Import and Export Data of Permanent Magnets
13.1 Exports
13.2 Imports
List of Figures
Figure 1: History of Magnetic Materials
Figure 2: Global: Permanent Magnet Market: Sales Volume (in 000’ Metric Tons), 2012-2019
Figure 3: Global: Permanent Magnet Market: Breakup by Magnet Type (In %), 2012-2019
Figure 4: Global: Permanent Magnet Market: Breakup by Magnet Type (In %), 2012-2019
Figure 5: Global: Permanent Magnet Market Forecast: Sales Volume (in 000’ Metric Tons), 2020-2025
Figure 6: Global: Permanent Magnet Market Forecast: Breakup by Magnet Type (in %), 2020-2025
Figure 7: Global: Permanent Magnet Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 8: Global: Permanent Magnet Market Forecast: Breakup by Magnet Type (in %), 2020-2025
Figure 9: Global: Permanent Magnet Market: Value Chain Analysis
Figure 10: Global: Permanent Magnet Market: Pricing Mechanism and Profit Margins at Various Levels of Supply Chain
Figure 11: Global: Permanent Magnet Market: SWOT Analysis
Figure 12: Global: Permanent Magnet Market: Porter's Five Forces Analysis
Figure 13: Global: Ferrite Magnet Market: Sales Volume (in Metric Tons), 2012-2019
Figure 14: Global: Ferrite Magnet Market: Sales Value (in Million US$), 2012-2019
Figure 15: Global: Ferrite Magnet Market: Breakup by Region (in %), 2012-2019
Figure 16: Global: Ferrite Magnet Market: Market Breakup by Application (in %)
Figure 17: Global: Ferrite Magnet Market Forecast: Sales Volume (in Metric Tons), 2020-2025
Figure 18: Global: Ferrite Magnet Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 19: Global: Ferrite Magnet Market Forecast: Breakup by Region (in %), 2020-2025
Figure 20: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Sales Volume (in Metric Tons), 2012-2019
Figure 21: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Breakup by Region (in %), 2012-2019
Figure 22: Global: NdFeB Market: Market Breakup by Application (in %)
Figure 23: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Sales Volume (in Metric Tons), 2020-2025
Figure 24: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 25: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Breakup by Region (in %), 2020-2025
Figure 26: Global: Aluminium Nickel Cobalt (AlNiCo) Magnet Market: Sales Volume (in Metric Tons), 2012-2019
Figure 27: Global: Aluminium Nickel Cobalt (AlNiCo) Magnet Market: Sales Value (in Million US$), 2012-2019
Figure 28: Global: Aluminium Nickel Cobalt (AlNiCo) Magnet Market: Breakup by Region (in %), 2012-2019
Figure 29: Global: Aluminium Nickel Cobalt (AlNiCo) Magnet Market Forecast: Sales Volume (in Metric Tons), 2020-2025
Figure 30: Global: Aluminium Nickel Cobalt (AlNiCo) Magnet Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 31: Global: Aluminium Nickel Cobalt (AlNiCo) Magnet Market Forecast: Breakup by Region (in %), 2020-2025
Figure 32: Global: Samarium Cobalt (SmCo) Magnet Market: Sales Volume (in Metric Tons), 2012-2019
Figure 33: Global: Samarium Cobalt (SmCo) Magnet Market: Sales Value (in Million US$), 2012-2019
Figure 34: Global: Samarium Cobalt (SmCo) Magnet Market: Breakup by Region (in %), 2012-2019
Figure 35: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Sales Volume (in Metric Tons), 2020-2025
Figure 36: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 37: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Breakup by Region (in %), 2020-2025
Figure 38: Global: Permanent Magnet Market: Breakup by Region (in %), 2012-2019
Figure 39: Global: Permanent Magnet Market Forecast: Breakup by Region (in %), 2020-2025
Figure 40: China: Permanent Magnet Market: Breakup by Magnet Type (in %), 2012-2019
Figure 41: China: Permanent Magnet Market Forecast: Breakup by Magnet Type (in %), 2020-2025
Figure 42: Japan: Permanent Magnet Market: Breakup by Magnet Type (in %), 2012-2019
Figure 43: Japan: Permanent Magnet Market Forecast: Breakup by Magnet Type (In %), 2020-2025
Figure 44: USA: Permanent Magnet Market: Breakup by Magnet Type (in %), 2012-2019
Figure 45: USA: Permanent Magnet Market Forecast: Breakup by Magnet Type (in %), 2020-2025
Figure 46: Europe: Permanent Magnet Market: Breakup by Magnet Type (in %), 2012-2019
Figure 47: Europe: Permanent Magnet Market Forecast: Breakup by Magnet Type (in %), 2020-2025
Figure 48: Other Countries: Permanent Magnet Market: Breakup by Magnet Type (in %), 2012-2019
Figure 49: Other Countries: Permanent Magnet Market Forecast: Breakup by Magnet Type (in %), 2020-2025
Figure 50: Global Ferrite Magnet Market: Market Breakup by Application (in %)
Figure 51: Global NdFeB Market: Market Breakup by Application (in %)
Figure 52: Global: Hard Disk Drive Market: Total Number of Shipments (in Million Units), 2012 & 2019
Figure 53: Global: Hard Disk Drive Market Forecast: Total Number of Shipments (in Million Units), 2020-2025
Figure 54: Global: Hybrid Electric Vehicle Market: Sales Volume (in Numbers), 2012-2019
Figure 55: Global: Hybrid Electric Vehicle Market Forecast: Sales Volume (in Numbers), 2020-2025
Figure 56: Global: Electric Bicycles Market: Sales Volume (in Million Units), 2012-2019
Figure 57: Global: Electric Bicycles Market Forecast: Sales Volume (in Million Units), 2020-2025
Figure 58: Global: Air Conditioners Market: Sales Volume (in Million Units), 2012-2019
Figure 59: Global: Air Conditioners Market Forecast: Sales Volume (in Million Units), 2020-2025
Figure 60: Global: Wind Power Market: Capacity (in GW), 2012-2019
Figure 61: Ferrite Magnets: Manufacturing Process
Figure 62: Ferrite Magnets: Detailed Process Flow
Figure 63: Ferrite Magnets: Raw Material Requirements
Figure 64: Ferrite Magnets: Plant Layout
Figure 65: Ferrite Magnets: Packaging Requirements
Figure 66: NdFeB Magnets: Manufacturing Process
Figure 67: NdFeB Magnets: Detailed Process Flow
Figure 68: NdFeB Magnets: Raw Material Requirements
Figure 69: NdFeB Magnets: Plant Layout
Figure 70: NdFeB Magnets: Packaging Requirements
Figure 71: SmCo Magnets: Manufacturing Process
Figure 72: SmCo Magnets: Detailed Process Flow
Figure 73: SmCo Magnets: Raw Material Requirements
Figure 74: SmCo Magnets: Plant Layout
Figure 75: SmCo Magnets: Packaging Requirements
List of Tables
Table 1: Major Applications of Permanent Magnets
Table 2: Overview of Various Permanent Magnets
Table 3: Global: Permanent Magnet Market: Breakup by Magnet Type (in Metric Tons), 2012-2019
Table 4: Global: Permanent Magnet Market: Breakup by Magnet Type (in Million US$), 2012-2019
Table 5: Global: Permanent Magnet Market Forecast: Breakup by Magnet Type (in Metric Tons), 2020-2025
Table 6: Global: Permanent Magnet Market Forecast: Breakup by Magnet Type (in Million US$), 2020-2025
Table 7: Global: Ferrite Magnet Market: Breakup by Region (in Metric Tons), 2012-2019
Table 8: Global: Ferrite Magnet Market Forecast: Breakup by Region (in Metric Tons), 2020-2025
Table 9: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Breakup by Region (in Metric Tons), 2012-2019
Table 10: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Breakup by Region (in Metric Tons), 2020-2025
Table 11: Global: Aluminium Nickel Cobalt (AlNiCo) Magnet Market: Breakup by Region (in Metric Tons), 2012-2019
Table 12: Global: Aluminium Nickel Cobalt (AlNiCo) Magnet Market Forecast: Breakup by Region (in Metric Tons), 2020-2025
Table 13: Global: Samarium Cobalt (SmCo) Magnet Market: Breakup by Region (in Metric Tons), 2012-2019
Table 14: Global: Samarium Cobalt (SmCo) Magnet Market Forecast: Breakup by Region (in Metric Tons), 2020-2025
Table 15: Global: Permanent Magnet Market: Breakup by Region (in Metric Tons), 2012-2019
Table 16: Global: Permanent Magnet Market Forecast: Breakup by Region (in Metric Tons), 2020-2025
Table 17: China: Permanent Magnet Market: Breakup by Magnet Type (in Metric Tons), 2012-2019
Table 18: China: Permanent Magnet Market Forecast: Breakup by Magnet Type (in Metric Tons), 2020-2025
Table 19: Japan: Permanent Magnet Market: Breakup by Magnet Type (in Metric Tons), 2012-2019
Table 20: Japan: Permanent Magnet Market Forecast: Breakup by Magnet Type (in Metric Tons), 2020-2025
Table 21: USA: Permanent Magnet Market: Breakup by Magnet Type (in Metric Tons), 2012-2019
Table 22: USA: Permanent Magnet Market Forecast: Breakup by Magnet Type (in Metric Tons), 2020-2025
Table 23: Europe: Permanent Magnet Market: Breakup by Magnet Type (in Metric Tons), 2012-2019
Table 24: Europe: Permanent Magnet Market Forecast: Breakup by Magnet Type (in Metric Tons), 2020-2025
Table 25: Other Countries: Permanent Magnet Market: Breakup by Magnet Type (in Metric Tons), 2012-2019
Table 26: Other Countries: Permanent Magnet Market Forecast: Breakup by Magnet Type (in Metric Tons), 2020-2025
Table 27: China: Permanent Magnets Market: Key Manufacturers
Table 28: USA: Permanent Magnets Market: Key Manufacturers
Table 29: Japan: Permanent Magnets Market: Key Manufacturers
Table 30: Europe: Permanent Magnets Market: Key Manufacturers
Table 31: Ferrite Magnet Manufacturing Plant: Land and Construction Requirements
Table 32: Ferrite Magnet Manufacturing Plant: Machinery Requirements
Table 33: Ferrite Magnet Manufacturing Plant: Utility Requirements
Table 34: Ferrite Magnet Manufacturing Plant: Manpower Requirements
Table 35: NdFeB Magnet Manufacturing Plant: Land and Construction Requirements
Table 36: NdFeB Magnet Manufacturing Plant: Machinery Requirements
Table 37: NdFeB Magnet Manufacturing Plant: Utility Requirements
Table 38: NdFeB Magnet Manufacturing Plant: Manpower Requirements
Table 39: SmCo Magnet Manufacturing Plant: Land and Construction Requirements
Table 40: SmCo Magnet Manufacturing Plant: Machinery Requirements
Table 41: SmCo Magnet Manufacturing Plant: Utility Requirements
Table 42: SmCo Magnet Manufacturing Plant: Manpower Requirements