Product Code: PM3748
The global permanent magnets market size is expected to reach USD 40.67 billion by 2032, according to a new study by Polaris market research. The report "Permanent Magnets Market Share, Size, Trends, Industry Analysis Report, By Material (Ferrite, NdFeB), By Application (Consumer Goods & Electronics, Energy), By Region, And Segment Forecasts, 2019 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Permanent magnets play an important role in the medical equipment industry, underpinning their significance in healthcare. These magnets are integral to crucial medical instruments such as blood separators, dental equipment, patient monitors, and magnetic Resonance Imaging (MRI) scanners. This technology facilitates the precise functioning of these devices, which is essential for diagnosing, monitoring, and treating patients. Permanent magnets are not limited to essential healthcare equipment; they are also utilized in non-essential devices that contribute to the overall patient care experience.
Increasing implementation of proactive measures aimed at enhancing healthcare infrastructure, particularly in developing nations, is anticipated to contribute to the expansion of the market throughout the forecast period. The product's demand is projected to be influenced by its widespread adoption in industrial automation, which has gained momentum due to the COVID-19 pandemic. Moreover, the healthcare sector's growing requirements are also expected to drive the demand for the product.
The Indian government has outlined its strategy to increase healthcare expenditure to around 3% of its GDP by 2022. These proactive measures are expected to positively influence the demand for the product within the healthcare sector throughout the projected period. Additionally, the product holds significant importance in wearable electronic devices. The global economy is experiencing profound technological advancements, resulting in the widespread adoption of intelligent electronic devices. This technological evolution has paved the way for the surge in demand for permanent magnets, further contributing to their relevance and application across various industries.
As wearable electronics, smartphones, and other smart technologies become increasingly prevalent, the need for various components, including permanent magnets, also rises. These magnets are essential components in many devices, contributing to their functionality and performance. The growth in adopting these smart technologies amplifies the demand for permanent magnets, as they are integral to the manufacturing and operation of these devices. Furthermore, the advancement and integration of smart technologies in various aspects of daily life stimulate the overall demand for electronic devices, creating a ripple effect on the demand for associated components like permanent magnets.
Permanent Magnets Market Report Highlights
Ferrite material segment dominated the market, owing to frequent use of ferrite magnets in medical equipment
NdFeB material will grow at rapid pace, as there are higher need advanced smart sensors in consumer electronics products, & autonomous EVs
Medical segment will grow at steady pace, as there is as huge key medical equipment in the emerging nations
APAC will grow at fastest pace, primarily due to booming consumer electronics with rise in disposable income
The key market players include Arnold Magnetic, Daido Steel, Eclipse Magnetics, Ningbo Yunsheng, Ninggang Permanent Magnetic Materials
Polaris market research has segmented the permanent magnets market report based on material, application, and region:
Permanent Magnets, Material Outlook (Revenue - USD Billion, 2019 - 2032)
- Ferrite
- Neodymium Iron Boron (NdFeB)
- Aluminum Nickel Cobalt (Alnico)
- Samarium Cobalt (SmCo)
Permanent Magnets, Application Outlook (Revenue - USD Billion, 2019 - 2032)
- Automotive
- Consumer Goods & Electronics
- Industrial
- Aerospace & Defense
- Energy
- Medical
- Others
Permanent Magnets, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Permanent Magnets Market Insights
- 4.1. Permanent Magnets Market - Industry Snapshot
- 4.2. Permanent Magnets Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising demand for permanent magnets from oil and gas sector
- 4.2.1.2. Increasing significance of renewable energy sources
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Price Volatility
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Forklift Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Permanent Magnets Market, by Material
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Forklift, by Material, 2019-2032 (USD Billion)
- 5.3. Ferrite
- 5.3.1. Global Permanent Magnets Market, by Ferrite, by Region, 2019-2032 (USD Billion)
- 5.4. Neodymium Iron Boron (NdFeB)
- 5.4.1. Global Permanent Magnets Market, by Neodymium Iron Boron (NdFeB), by Region, 2019-2032 (USD Billion)
- 5.5. Aluminum Nickel Cobalt (Alnico)
- 5.5.1. Global Permanent Magnets Market, by Material 3, by Region, 2019-2032 (USD Billion)
- 5.6. Samarium Cobalt (SmCo)
- 5.6.1. Global Permanent Magnets Market, by Material 4/5, by Region, 2019-2032 (USD Billion)
6. Global Permanent Magnets Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 6.3. Automotive
- 6.3.1. Global Permanent Magnets Market, by Automotive, by Region, 2019-2032 (USD Billion)
- 6.4. Consumer Goods & Electronics
- 6.4.1. Global Permanent Magnets Market, by Consumer Goods & Electronics, by Region, 2019-2032 (USD Billion)
- 6.5. Industrial
- 6.5.1. Global Permanent Magnets Market, by Industrial, by Region, 2019-2032 (USD Billion)
- 6.6. Aerospace & Defense
- 6.6.1. Global Permanent Magnets Market, by Consumer Aerospace & Defense, by Region, 2019-2032 (USD Billion)
- 6.7. Energy
- 6.7.1. Global Permanent Magnets Market, by Energy, by Region, 2019-2032 (USD Billion)
- 6.8. Medical
- 6.8.1. Global Permanent Magnets Market, by Medical, by Region, 2019-2032 (USD Billion)
- 6.9. Others
- 6.9.1. Global Permanent Magnets Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Permanent Magnets Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Permanent Magnets Market Assessment, By Geography, 2019-2032 (USD Billion)
- 7.3. Permanent Magnets Market - North America
- 7.3.1. North America: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.3.2. North America: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.3.3. Permanent Magnets Market - U.S.
- 7.3.3.1. U.S.: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.3.3.2. U.S.: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.3.4. Permanent Magnets Market - Canada
- 7.3.4.1. Canada: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.3.4.2. Canada: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.4. Permanent Magnets Market - Europe
- 7.4.1. Europe: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.4.2. Europe: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.4.3. Permanent Magnets Market - UK
- 7.4.3.1. UK: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.4.3.2. UK: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.4.4. Permanent Magnets Market - France
- 7.4.4.1. France: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.4.4.2. France: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.4.5. Permanent Magnets Market - Germany
- 7.4.5.1. Germany: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.4.5.2. Germany: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.4.6. Permanent Magnets Market - Italy
- 7.4.6.1. Italy: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.4.6.2. Italy: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.4.7. Permanent Magnets Market - Spain
- 7.4.7.1. Spain: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.4.7.2. Spain: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.4.8. Permanent Magnets Market - Netherlands
- 7.4.8.1. Netherlands: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.4.8.2. Netherlands: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.4.9. Permanent Magnets Market - Russia
- 7.4.9.1. Russia: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.4.9.2. Russia: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.5. Permanent Magnets Market - Asia Pacific
- 7.5.1. Asia Pacific: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.5.2. Asia Pacific: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.5.3. Permanent Magnets Market - China
- 7.5.3.1. China: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.5.3.2. China: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.5.4. Permanent Magnets Market - India
- 7.5.4.1. India: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.5.4.2. India: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.5.5. Permanent Magnets Market - Malaysia
- 7.5.5.1. Malaysia: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.5.5.2. Malaysia: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.5.6. Permanent Magnets Market - Japan
- 7.5.6.1. Japan: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.5.6.2. Japan: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.5.7. Permanent Magnets Market - Indonesia
- 7.5.7.1. Indonesia: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.5.7.2. Indonesia: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.5.8. Permanent Magnets Market - South Korea
- 7.5.8.1. South Korea: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.5.8.2. South Korea: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.6. Permanent Magnets Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.6.2. Middle East & Africa: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.6.3. Permanent Magnets Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.6.3.2. Saudi Arabia: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.6.4. Permanent Magnets Market - UAE
- 7.6.4.1. UAE: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.6.4.2. UAE: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.6.5. Permanent Magnets Market - Israel
- 7.6.5.1. Israel: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.6.5.2. Israel: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.6.6. Permanent Magnets Market - South Africa
- 7.6.6.1. South Africa: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.6.6.2. South Africa: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.7. Permanent Magnets Market - Latin America
- 7.7.1. Latin America: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.7.2. Latin America: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.7.3. Permanent Magnets Market - Mexico
- 7.7.3.1. Mexico: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.7.3.2. Mexico: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.7.4. Permanent Magnets Market - Brazil
- 7.7.4.1. Brazil: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.7.4.2. Brazil: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
- 7.7.5. Permanent Magnets Market - Argentina
- 7.7.5.1. Argentina: Permanent Magnets Market, by Application, 2019-2032 (USD Billion)
- 7.7.5.2. Argentina: Permanent Magnets Market, by Material, 2019-2032 (USD Billion)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. Adams Magnetic Products
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Arnold Magnetic
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Daido Steel
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Eclipse Magnetics
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Electron Energy
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Goudsmit Magnetics
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Hangzhou Permanent Magnet
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Magnequench International
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Ningbo Yunsheng
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Ninggang Permanent Magnetic Materials
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. Pacific Metals
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
- 9.12. Shin-Etsu Chemical
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development
- 9.13. SsangYong Materials
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Product Benchmarking
- 9.13.4. Recent Development
- 9.14. TDK Corporation
- 9.14.1. Company Overview
- 9.14.2. Financial Performance
- 9.14.3. Product Benchmarking
- 9.14.4. Recent Development
- 9.15. Thomas & Skinner
- 9.15.1. Company Overview
- 9.15.2. Financial Performance
- 9.15.3. Product Benchmarking
- 9.15.4. Recent Development
- 9.16. Ugimag Korea
- 9.16.1. Company Overview
- 9.16.2. Financial Performance
- 9.16.3. Product Benchmarking
- 9.16.4. Recent Development