About Samarium Cobalt Magnets
An alternate Rare Earth magnet is made of samarium and cobalt (SmCo). It is frequently employed in military, automotive, and aerospace applications. At normal temperature, it typically has less strength than NdFeB Neodymium. Samarium Cobalt SmCo can be used in conditions of extreme cold and heat. It is also suited for high temperature motor applications due to its extremely high coercive. Due to the excellent temperature coefficients of samarium cobalt, the magnet output is remarkably steady even under very slight temperature fluctuations. In applications requiring mission-critical sensing, it is widely used. Selecting the ideal design for you and your application might be challenging because there are so many different designs and types of magnets. One form of magnet, known as a samarium cobalt magnet, is classified as a rare earth magnet. These highly powerful magnets are second only to neodymium magnets in terms of temperature limits in magnets and are frequently used in applications where high temperatures are a concern.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Samarium Cobalt Magnets market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
International Magna Products, Inc. (Canada), Master Magnetics, Inc. (United States), Arnold Magnetic Technologies (United States), Alliance LLC (United States), Eriez (United States), Integrated Magnetics (United States), TyTek Industries (United States), A and A Magnetics Inc. (Ireland), ALL Magnetics, Inc. (Canada) and ADAMS Magnetic Products (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Bunting (United States), Eclipse Magnetics (United Kingdom), Hangzhou Permanent Magnet Group (HPMG) (China) and Thomas & Skinner Inc (United States).
Segmentation Overview
AMA Research has segmented the market of Global Samarium Cobalt Magnets market by , Application (Pipeline Inspection, Robotic Arms, Gyroscopes, Medical Devices and Others) and Region.
On the basis of geography, the market of Samarium Cobalt Magnets has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Shapes, the sub-segment i.e. Discs will boost the Samarium Cobalt Magnets market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand for Miniature Devices in the Defence Industry
Market Growth Drivers:
Expanding Adoption of Samarium Cobalt Magnets in Various Military Weapons and in Aircraft’s Electrical Systems for Generating Power and Increasing Environmental Concerns among Individuals and Governing Authorities
Challenges:
Increase In the Cost of Research and Development Activities
Restraints:
Generally Higher Cost Associated with Samarium Cobalt Magnets and Stringent Government Regulations on Mining of Samarium Cobalt Magnet
Opportunities:
Increase Technological Advancements and Modernization in the Production Techniques and Growing the Demand from Emerging Economies
Market Leaders and their expansionary development strategies
In 2021, Arnold purchased Ramco Electric Motors, increasing their product line with rotors and adding stators and complete electric motors. The company's strategic goal of providing innovative materials and engineering solutions that enable customers to develop next-generation technologies will be further enhanced as a result of this acquisition.
In 2020, Ningbo Newland Magnet Industry Co., Ltd. Ltd. has launched a class of bonded magnets that can be used with 5G technology to enable ferrite and samarium-cobalt magnets to provide the performance required for 5G applications., and In 2021, Eriez announces the addition of Easy-to-Clean Round Spout Magnetic Separators to their line of grate magnet products. Instead of requiring square-to-round adapters on the inlet and outlet ports, these separators have a lower profile, streamlined design that is half as tall as standard units. This makes inline installation simpler and increases material flow efficiency.
Key Target Audience
Samarium Cobalt Magnets Manufactures, Raw Materials Suppliers, Distributors, Government Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.