The new report by Expert Market Research titled, ‘Global Rare Earth Magnet Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global rare earth magnet market, assessing the market based on its segments like magnet type, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 148.04 Million
- Forecast CAGR (2021-2026): 7.0%
- Forecast Market Size (2026): USD 196.25 Million
Neodymium magnets and samarium-cobalt magnets are two forms of rare earth magnets. Neodymium magnets have the strongest magnetic field and are the most magnetically stable, although their curie temperature is lower. Compared to neodymium magnets, samarium cobalt magnets have a lower magnetic field strength but a higher curie temperature.
The majority of global rare earth magnet volumes were made up of neodymium-iron-boron magnets in 2018.
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Industry Definition and Major Segments
Based on magnet type, the market can be divided into:
- Neodymium-Iron-Boron Magnet
- Samarium-Cobalt Magnet
Based on application, the market can be divided into:
- Automotive Motors
- Industrial Motors
- HDD, CD, DVD
- Electric Bicycles
- Transducers and Loudspeakers
- Others
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Based on region, the market can be divided into:
- China
- United States
- Europe
- Others
China, Japan, Europe, the United States, and other regions are the largest markets for rare earth magnets.
Market Trends
According to the competitive landscape, the majority of competitors in the worldwide rare earth magnets market are based in China due to a reliable and cost-effective supply of essential raw materials. Other players can be found throughout the US, Europe, and Japan.
Key Market Players
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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