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(I-TravelNewswire.Com, April 23, 2018 ) Ferrite magnet is a low magnetic energy product and suitable for low temperature applications. It alone accounted for more than 70% of the global permanent magnets market (on volume basis) serving most of the major applications, such as stator in the wind energy, engine and battery components in the automotive industry. It has lower price than other magnet types (Alnico, NdFeB, and SmCo).
NdFeB is likely to experience the fastest growth in the next five years, driven mainly by consumer electronics, standard automotive applications, and electric and hybrid vehicles. NdFeB is preferred in the engine components, battery components, moving car parts, HDD of consumer electronics and other integral systems. China and Japan together produce more than 95% of the global NdFeB supply.
Automotive industry is expected to remain the largest consumer of the permanent magnets during the forecast period. It accounted for 55% of the global permanent magnets market in 2015. Permanent magnets are used in engine components, battery components, moving car parts, and other integral systems. Energy segment is expected to witness the fastest growth in the next five years driven by demand of renewable energy across globe. All the major countries have set renewable energy targets and are continuously pushing harder to meet the renewable energy targets.
The global permanent magnets market is likely to witness significant changes in the coming years. New sources of supply are scheduled to be developed across the globe. China, which is the major producer of permanent magnets worldwide, is witnessing consolidation by state owned enterprises. China owns the largest reserves of the permanent magnets worldwide and is a low cost producer of the permanent magnets. China will continue to remain the largest producer during the forecast period.
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The global permanent magnets market offers a good growth opportunity and is likely to grow with 6.5% CAGR during the forecast period of 2016 to 2021. Increasing automotive production and increasing use of permanent magnets in the consumer electronics, such as HDD, CD, and DVD applications are the key drivers of the global permanent magnets market. Another prime driver for the future growth is the growing renewable energy (wind turbines and solar photovoltaic) and increasing production of the electric & hybrid vehicles.
Asia-Pacific occupied three forth of the global permanent magnets market in 2015. It is expected to remain the largest market for the permanent magnets during the forecast period. China is the leading producer as well as consumer of the permanent magnets worldwide.
There is presence of small to large scale producers of the permanent magnets in China and worldwide. The key permanent magnet manufacturers are Molycorp Magnequench, Hangzhou Permanent Magnet Group, Shin-Etsu Chemical Co. Ltd, Anhui Earth-Panda Advance Magnetic Material Co. Ltd, Adams Magnetic Products Co., and Hitachi Metals Ltd.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
-Market structure: Overview, industry life cycle analysis, supply chain analysis
-Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis
-Market trend and forecast analysis
-Market segment trend and forecast
-Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
-Attractive market segments and associated growth opportunities
-Strategic growth opportunities for the existing and new players
-Key success factors
Global Permanent Magnets Market by Material Type:
Global Permanent Magnets Market by End Use Industry:
-Aerospace & Defense
Global Synthetic Graphite Market by Sales Channel:
Global Permanent Magnets Market by Region:
-Asia - Pacific
-Rest of the World
Get complete access of this report@ http://www.reportsweb.com/global-permanent-magnets-market-2016-2021
Company Profile of Key Players
Adams Magnetic Products Co.
Anhui Earth-Panda Advance Magnetic Material Co. Ltd
Bunting Magnetics Co.
Daido Steel Co. Ltd
Eclipse Magnetics Ltd
Electron Energy Corporation
Goudsmit Magnetics Group
Hangzhou Permanent Magnet Group
Hitachi Metals Ltd
Lynas Corporation Ltd
Ningbo Yunsheng Co. Ltd
Ninggang Permanent Magnetic Materials Co. Ltd
Shin-Etsu Chemical Co. Ltd
Tengam Engineering Inc.
Thomas & Skinner Inc.
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