The global Permanent Magnets Market report published by Reports and Data offers a comprehensive overview of the market dynamics and recent events in the industry to help the user/reader to understand the market scenario. The report provides assessment of emerging and current market trends, drivers, constraints, limitations and opportunities that are may occur during the forecast period. The report sheds light on the market dynamics along with details about market size, market share, and revenue growth along with production and manufacturing of various products. The data is collected through extensive primary and secondary research and is evaluated by professionals and experts in the industry. The statistical data is well-presented in from of diagrams, charts, tables and other pictorial presentations for better user readability.

The Global Permanent Magnets Market is forecasted to reach USD 44.15 Billion by 2028, according to a new report by Reports and Data. The property of permanent magnets to retain its magnetic property makes it applicable for use in a wide range of industries. Increase in renewable energy is also fueling the growth of the market. Utilization of permanent magnets in wind turbines and solar photovoltaics and increasing production of hybrid and electric vehicles are some of the drivers propelling the growth of the market. Application of permanent magnets in sensors, switches, auto-clutch, and electric power steering are other factors boosting the market growth.

The electronics industry and changing lifestyle are other factors that will propel the market. With an increase in demand for consumer electronics permanent magnets also witness a rise in demand. Changing prices of raw materials and the hazards associated with rare earth metal mining is expected to limit the growth of the market.

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Market Dynamics:

The materials and chemicals industry is rapidly gaining traction over the forecast period and is expected to expand significantly in the coming years. Technological advancements and rising innovation are key factors boosting global market growth. The global Permanent Magnets market is projected to register robust revenue CAGR during the forecast period between 2021 and 2028. Increasing awareness about green energy and eco-friendly biodegradable products, environmental impact due to carbon emissions are few key factors supporting market growth. High demand for various chemicals and raw materials in various industrial sectors such as food and technology, pharmaceutical and biotechnology, manufacturing, paint and coating, paper, plastic among others. In addition, increasing research and development activities, growing demand for products like perfumes, soaps and detergents for daily usage along with rising disposable income across the globe are further boosting market growth.

The report offers in depth insight about prominent players in the market, their market position, global and financial standing, license agreement, brand promotions and product portfolio. The global Permanent Magnets market is highly competitive and consist of various key players at global and regional levels. These players are adopting various strategies like joint ventures, collaborations, partnerships, and new product launches to strengthen their market position.

Leading companies operating in the market and profiled in the report include:

Adams Magnetic Products Co., Anhui Earth-Panda Advance Magnetic Material Co. Ltd., Arnold Magnetic Technologies, Daido Steel Co. Ltd., Eclipse Magnetics Ltd., Electron Energy Corporation, Goudsmit Magnetics Group, Hangzhou Permanent Magnet Group, Hitachi Metals Ltd., Molycorp Magnequench, TDK Corporation, and Thomas & Skinner Inc., among others.

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Material Outlook (Revenue, USD Billion; 2020-2028)

Neodymium Iron Boron Magnets
Ferrite Magnets
Samarium Cobalt Magnets
Alnico Magnets
Other Magnets
End Users Outlook (Revenue, USD Billion; 2020-2028)

Consumer Electronics
Automotive
Environment & Energy
General Industrial
Medical Technology
Aerospace & Defense
Others
The Permanent Magnets market is segmented into five major regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

Regional Outlook:

North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Rest of MEA
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