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The North America samarium cobalt magnets market is expected to reach a volume of 501.8 Tons by 2026, exhibiting stable growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Samarium-Cobalt (SmCo) magnets are known as “the first generation of the rare-earth magnets”. These magnets are composed of samarium, cobalt and iron. After Neodymium-iron-boron magnets (NdFeB), they are one of the strongest magnets and possess several distinct characteristics. Some of these properties include high thermal conductivity, high coercivity and easy operability at higher temperatures. Moreover, with limited size and weight, SmCo magnets exhibit good corrosion resistance without additional surface treatment. On account of these properties, they are often used in high temperature applications and where strong magnetic fields are required.
The North America samarium cobalt magnets market is currently being driven by several factors. Samarium cobalt magnets are widely utilized in sensors, computer hard drives, AC servomotors, actuators, bias magnets, ultrasonic transducers, traveling wave tubes and high performance motors. Owing to this, they find distinctive applications in defense and aerospace sectors in the region. Moreover, there is an escalated demand for these magnets in the electronics, medical devices, motors and actuators manufacturing industries, which further drives the market. In addition to this, rapid technological advancements across the automobile and automation sectors have also catalyzed the SmCo magnets market growth in the region.
IMARC Group provides an analysis of the key trends in each sub-segment of the North America samarium cobalt magnets market, along with forecasts at the regional and country level from 2021-2026. Our report has categorized the market based on application.
|Base Year of the Analysis||2020|
|Segment Coverage||Application, Country|
|Countries Covered||United States, Canada, Mexico|
|Customization Scope||10% Free Customization|
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