Permanent magnets are materials which retain their magnetic
properties permanently. In other words, they exhibit magnetic properties
even if they are removed from a magnetic field. Permanent magnets can
be broadly classified into rare earth, ferrite, aluminum-nickel-cobalt
(Alnico), and other magnets. The rare earth magnets can be further
subdivided into neodymium-iron-boron (NdFeB) and samarium-cobalt (SmCo)
magnets. Permanent magnets are used in a wide range of applications
including household equipment, electronic and medical devices, power
generation devices, and automobiles.
Analysts forecast the Global Permanent Magnets market will grow at a CAGR of 8.42 percent over the period 2013-2018.
The
Report recognizes the following companies as the key players in Global
Permanent Magnets Market: TDK Corp., Hitachi Metals Ltd., Shin-Etsu
Chemical Co. Ltd. , Chengdu Galaxy Magnets Co. Ltd., Daido Steel Co.
Ltd., JPMF Guangdong Co. Ltd., Ningbo Yunsheng Co. Ltd., Vacuumschmelze
GmbH & Co KG
The Global Permanent Magnets market is focusing
on developing innovative and modified permanent magnets to meet the
requirements of end-users. The key manufacturers are developing
permanent magnets with high energy density (power density > 4 Kw/L),
high power (specific power >1.4 Kw/Kg), high efficiency (efficiency
>94 percent), high temperature tolerance (150-200 degree Celsius),
and long lifetime (15 years). These innovations and modifications are
much needed to reduce the overall operational costs. The main reason for
such innovations is price instability and supply shortage.
Covered in this Report
The
Global Permanent Magnets market can be divided into four segments:
Ferrite, NdFeB, SmCo, and Alnico. These are the major sets of products
for power cables.
Global Permanent Magnets Market 2014-2018, has
been prepared based on an in-depth market analysis with inputs from
industry experts. The report covers North America, Europe, and the APAC
region; it also covers the Global Permanent Magnets market landscape and
its growth prospects in the coming years. The report also includes a
discussion of the key vendors operating in this market.
According
to the report, one of the main factors is the increasing need for
permanent magnets for existing and emerging industrial applications. The
demand for permanent magnets is expected to increase with the
increasing growth of industries such as Medical Technology, Automotive,
Aerospace and Defense, Consumer Electronics, and Energy.
Further,
the report states that one of the main challenges in this market is the
volatility in the cost of raw materials. Shortage in the supply of raw
materials such as neodymium, praseodymium, and dysprosium is the main
reason for cost fluctuation.
