Industry Background:
Rare Earth Magnets are the permanent magnets that exhibits from a magnetic materials and its able to creates its own persistent magnetic field. It also content alloys of rare earth elements such as samarium, dysprosium and others. Rare Earth Magnets market is expected to mark significant growth over forecasted period owing to increasing consumers spending on automobile industry, rapid industrialization and technological advancement. There has been significant rise in number of rare earth materials with figure stood up to USD 191.2 millions in United States alone in 2017 from China Market, the future for Rare Earth Magnets looks promising. This result in rising applications in oil and gas drilling platforms, increasing demand of consumer electronics, escalating need for industrial machinery, and growing popularity of magnetic properties may trigger demand and help in industry expansion.
According to AMA, the market for Rare Earth Magnets is expected to register a CAGR of 7.53% during the forecast period to 2026. This growth is primarily driven by Increase in Demand of Electricity Boost the Rare Earth Magnets Market. and Rapid Industrialization Fuelled Up the Rare Earth Magnets Market..
Globally, a noticeable market trend is evident Collaboration and Tie Up Of Leading Players
. The Precious Metals & Minerals sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Hitachi Metals, Ltd. (Japan), SG Magnets Ltd. (United Kingdom), Arnold Magnetic Technologies Corporation (United States), Yantai Shougang Magnetic Materials Inc. (China), Shin-ETSU Chemical Co., Ltd. (Japan), Bunting Magnetics Co. (United States), Galaxy Magnetic (China), Adams Magnetic Products (United States), Daido Electronics (Japan) and Innuovo Magnetics (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In November 2018, TDK acquired R&D business sector from Showa Denko K.K. This acquisition is beneficial in providing neodymium magnets that containing rare earth minerals and ferrite magnets consisting of a mixed oxide of metals including iron. Mostly the magnet products for motor are used in industrial equipment, information and communications technology devices, automobiles and others.
In February 2018, Toyota introduced a new magnet for electric motors known as neodymium-reduced, heat-resistant magnet which is beneficial in providing high-output motors in electrified vehicles. It’s also used for development of elemental technologies for motors, inverters, batteries, and others.
Market Drivers
- Increase in Demand of Electricity Boost the Rare Earth Magnets Market.
- Rapid Industrialization Fuelled Up the Rare Earth Magnets Market.
Market Trend
- Collaboration and Tie Up Of Leading Players
- Increase in demand of rare earth magnets in Asia-Pacific regions.
Restraints
- Volatility of Rare Earth Materials Price Hampers the Market.
- Lack of awareness among the emerging countries.
Opportunities
Proliferation of Better Performing Vehicles Leads to Grow the Rare Earth Magnets Market. and Upsurge Demand of Rare Earth Magnets in Automotive Industry.
Challenges
Limitation Due to Government Regulations. and Low Corrosion Resistance In Nature Challenge The Global Market.
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Rare Earth Magnets Study Sheds Light on
The Rare Earth Magnets Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Rare Earth Magnets industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Rare Earth Magnets industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.