Permanent Magnets Market Size, Share & Trends Report

Permanent Magnets Market Size, Share & Trends Analysis Report By Material (Ferrite, NdFeB), By Application (Consumer Goods & Electronics, Energy), By Region (Europe, Asia Pacific), And Segment Forecasts, 2024 - 2030

Report ID: 978-1-68038-058-3
Number of Pages: 117
Format: Electronic (PDF)

Historical Range: 2018 - 2023
Industry: Advanced Materials

Market Segmentation

Permanent Magnets Material Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
- Ferrite
- Neodymium Iron Boron (NdFeB)
- Aluminum Nickel Cobalt (Alnico)
- Samarium Cobalt (SmCo)
Permanent Magnets Application Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
- Automotive
- Consumer goods & electronics
- Industrial
- Aerospace & Defense
- Energy
- Medical
- Others
Permanent Magnets Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
- North America
  - North America Permanent Magnets Market, By Material
    - Ferrite
    - Neodymium Iron Boron (NdFeB)
    - Aluminum Nickel Cobalt (Alnico)
    - Samarium Cobalt (SmCo)
  - North America Permanent Magnets Market, By Application
    - Automotive
    - Consumer goods & electronics
    - Industrial
    - Aerospace & Defense
    - Energy
    - Medical
    - Others
  - U.S.
    - U.S. Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - U.S. Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
  - Canada
    - Canada Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - Canada Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
  - Mexico
    - Mexico Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - Mexico Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
- Europe
  - Europe Permanent Magnets Market, By Material
    - Ferrite
    - Neodymium Iron Boron (NdFeB)
    - Aluminum Nickel Cobalt (Alnico)
    - Samarium Cobalt (SmCo)
  - Europe Permanent Magnets Market, By Application
    - Automotive
    - Consumer goods & electronics
    - Industrial
    - Aerospace & Defense
    - Energy
    - Medical
    - Others
  - Germany
    - Germany Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - Germany Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
  - Russia
    - Russia Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - Russia Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
  - UK
    - UK Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - UK Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
  - France
    - France Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - France Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
  - Italy
    - Italy Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - Italy Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
- Asia Pacific
  - Asia Pacific Permanent Magnets Market, By Material
    - Ferrite
    - Neodymium Iron Boron (NdFeB)
    - Aluminum Nickel Cobalt (Alnico)
    - Samarium Cobalt (SmCo)
  - Asia Pacific Permanent Magnets Market, By Application
    - Automotive
    - Consumer goods & electronics
    - Industrial
    - Aerospace & Defense
    - Energy
    - Medical
    - Others
  - China
    - China Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - China Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
  - India
    - India Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - India Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
  - Japan
    - Japan Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - Japan Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
  - Indonesia
    - Indonesia Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - Indonesia Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
  - South Korea
    - South Korea Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - South Korea Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
- Central & South America
  - Central & South America Permanent Magnets Market, By Material
    - Ferrite
    - Neodymium Iron Boron (NdFeB)
    - Aluminum Nickel Cobalt (Alnico)
    - Samarium Cobalt (SmCo)
  - Central & South America Permanent Magnets Market, By Application
    - Automotive
    - Consumer goods & electronics
    - Industrial
    - Aerospace & Defense
    - Energy
    - Medical
    - Others
  - Brazil
    - Brazil Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - Brazil Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
  - Argentina
    - Argentina Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - Argentina Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others
- Middle East & Africa
  - Middle East & Africa Permanent Magnets Market, By Material
    - Ferrite
    - Neodymium Iron Boron (NdFeB)
    - Aluminum Nickel Cobalt (Alnico)
    - Samarium Cobalt (SmCo)
  - Middle East Africa Permanent Magnets Market, By Application
    - Automotive
    - Consumer goods & electronics
    - Industrial
    - Aerospace & Defense
    - Energy
    - Medical
    - Others
  - Saudi Arabia
    - Saudi Arabia Permanent Magnets Market, By Material
      - Ferrite
      - Neodymium Iron Boron (NdFeB)
      - Aluminum Nickel Cobalt (Alnico)
      - Samarium Cobalt (SmCo)
    - Saudi Arabia Permanent Magnets Market, By Application
      - Automotive
      - Consumer goods & electronics
      - Industrial
      - Aerospace & Defense
      - Energy
      - Medical
      - Others

Permanent Magnets Market Dynamics

Driver: Growing wind energy sector

Permanent magnets are used in wind turbine generators to improve their efficiency. Over the past few years, direct drive Permanent Magnet Generator (PMG) systems, which are directly connected to the generator have been increasingly used. PMG systems drastically reduce the downtime required for the maintenance of wind-generating units. This lowers the duration for which the system remains non-operational, thereby increasing the output. Moreover, mechanical losses associated with gearboxes are eliminated, which results in an improvement in the overall efficiency of the system. Furthermore, generators present with PMG systems increase the reliability of wind-generating units as a whole. NdFeB magnets are being widely employed in the wind generation industry owing to their superior performance over a wide range of temperatures. They are used in wind turbines on account of benefits such as increased reliability and low maintenance cost.

Regions other than Asia Pacific are also expected to witness an increase in the installed capacity of wind generators over the next few years on account of the increasing use of renewable energy sources for electricity generation. Technological developments within the wind generation sector, coupled with rising awareness regarding the long-term benefits of expensive Neo magnets, are expected to drive the demand for permanent magnets over the forecast period.

Driver: Growth in the electric vehicles market

A significant rise in the production of EVs is expected to propel the demand for permanent magnets over the forecast period. Despite the COVID-19 pandemic, the sales of plug-in vehicles increased by 43% from 2019 to 2020. With an increase of 137% in EV sales from 2019 to 2020, Europe surpassed China and became the largest EV market in 2020. With 1.4 million EVs sold, the region held a 45% share of global EV sales in 2020. As of September 2021, for the first time, plug-ins have held a 10% share of the global passenger car market.

On a year-over-year basis, the global passenger plug-in EV sales doubled in September 2021 to more than 685,000, which is higher by 98%. From January to September 2021, the global passenger plug-in EV sales were 4.3 million and total sales are expected to cross the 6 million mark by the end of 2021. Rising EV production is expected to contribute to the consumption of permanent magnets over the forecast period. The growing EV market in Europe has attracted foreign companies to invest in the region. For instance, in November 2020, Nidec announced plans to build an EV factory in Serbia at an investment worth USD 1.9 billion (JPY 200 billion) to strengthen its foothold in Europe and compete against Chinese players. The facility is expected to possess an annual production capacity of 300,000 EV motors by 2023.

Restraint: SSD as a substitute for HDD

Hard Disk Drives (HDD) is one of the largest markets for rare earth permanent magnets. Rare earth permanent magnets are used for driving the spindle motor. Even though the quantity of rare earth magnets used in HDD is small, the large-scale production of HDD requires large amounts of rare earth magnets. Although, SSD (Solid State Drives), which is a viable alternative to HDD, does not rely on permanent magnets. Instead, it relies on interconnected flash memory chips or an embedded processor. SSD has considerably improved in performance in the last five years. As per the figure given above, the operating cost (Packaging, power, cooling, maintenance, space, etc.) of SSD declined since 2015 due to rapid technological advancements in SSD technology.

Therefore, there is a growing demand for SSDs. The SSD’s lower operating cost and enhanced performance delivered by SSD have encouraged the manufacturers to stimulate the production of SSDs. As a result, SSD is expected to gradually snatch the market share of HDD over the coming years. As a result, the market growth for permanent magnets in HDD is expected to be restrained by the increasing demand for SSDs.

What Does This Report Include?

This section will provide insights into the contents included in this permanent magnets market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Permanent magnets market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Permanent magnets market quantitative analysis

Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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