Browse in-depth TOC on "Permanent Magnet Market"
200 – Tables
100 – Figures
300 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=806
Neodymium Iron Boron magnet type accounted for the largest market share, in terms of value in 2023.
Global permanent magnet market has been segmented based on the magnet type. In 2023, Neodymium Iron Boron magnet type dominated the market in terms value by contributing to the highest market share. Neodymium Iron Boron magnets, also known as rare earth magnets, possess high magnetic strength, excellent thermal conductivity, maximum energy product, resistance to moisture and corrosion. They are cost effective and are used in wide range of end-use industries.
Consumer Electronics to remain the largest end-use industries in terms of volume during the forecast period.
In 2023, Consumer electronics accounted for the largest market share of global permanent magnet market, in terms of volume. Growing demand of permanent magnets for consumer electronics due to changing consumer preferences and improved standard of living is driving the market. Increase in usage of electronic devices has dominated the consumer electronics industry. In upcoming years, the demand for consumer electronics industry is witnessing growth due to advancement in technologies and consumer shifting towards smart homes and appliances.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=806
Asia Pacific region accounted for the largest share in 2023, in terms of volume.
In 2023, Asia Pacific region accounted for the highest market share, in terms of volume. Due to increase in urban population and Industrialization, the consumer spending in this region is driving the growth of consumer electronics, general industrial, automotive, medical technology, environment & energy, aerospace & defense industries. Also, growing focus towards recyclability and clean earth materials is driving the usage of permanent magnets in various industries. Major key players in the permanent magnet market are focusing the Asia Pacific region due to the strong regional market. Many manufacturers are shifting their manufacturing base in this region due to low-cost production facilities.
Key Players:
Prominent companies in the permanent magnet market include are Proterial, Ltd. (Japan), Arnold Magnetic Technologies (US), TDK Corporation (Japan), Yantai Dongxing Magnetic Materials Inc. (China), Shin-Etsu Chemical Co., Ltd. (Japan), Electron Energy Corporation (US), Adams Magnetic Products, LLC (US), Bunting Magnetics Co. (US), Tengam Engineering, Inc. (US), Ningbo Yunsheng Co., Ltd. (China), Chengdu Galaxy Magnets Co., Ltd. (China), Goudsmit Magnetics (Netherlands), Eclipse Magnetics (UK), Dexter Magnetic Technologies (US),and Earth Panda Advance Magnetic Material Co., Ltd. (China).
Browse Adjacent Market: Bulk Chemicals and Inorganics Market Research Reports & Consulting
Related Reports:
Soft Magnetic Materials Market - Global Forecast to 2026
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/permanent-magnet-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/permanent-magnet.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
Share this article