DUBLIN, April 07, 2022--(BUSINESS WIRE)--The "Rare Earth Magnet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global rare earth magnet market reached a value of US$ 16.4 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 23.4 Billion by 2027, exhibiting at a CAGR of 5.88% during 2022-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Rare-earth magnets refer to a type of permanent magnets which are made from the alloys of rare earth elements. They generate strong magnetic fields that assist in product miniaturization, improving product performance and reducing manufacturing costs. As these magnets are brittle and prone to corrosion, they are generally plated or coated to avert breaking, chipping or crumbling into powder. Owing to their numerous advantages, they find applications in the manufacturing of motors, separators, printers, microphones, automotive starters, acoustic transducers and computer disc drives.
Earlier, the application of rare earth magnets was largely confined to the motors and automotive industry. However, the global rare earth magnet market has recently experienced a rise in the demand from several new industries such as electronics, medical devices and actuators manufacturing.
Moreover, on account of rapid urbanization, industrialization, growing penetration of electricity and increasing levels of automation in several industries, the electric motor industry is experiencing moderate growth. As the motor industry represents one of the largest end-users of rare earth magnets, this growth is creating a positive impact on their demand. Apart from this, expansion of the wind energy generation plants on account of the growing population and increasing demand for electricity is anticipated to boost the market growth in the upcoming years.
The competitive landscape of the market has been analyzed in the report along with the detailed profiles of the major players operating in the industry.
Key Questions Answered in This Report
1. What was the global rare earth magnet market size in 2021?
2. What are the major global rare earth magnet market drivers?
3. What are the major global rare earth magnet market trends?
4. What is the impact of COVID-19 on the global rare earth magnet market?
5. What will be the rare earth magnet market outlook during the forecast period (2022-2027)?
6. What is the global rare earth magnet market breakup by magnet type?
7. What is the global rare earth magnet market breakup by application?
8. What are the major regional markets in the global rare earth magnet industry?
9. Who are the leading players in the global rare earth magnet industry?
5 Global Rare Earth Magnets Industry
5.6 Market Breakup by Magnet Type
5.11 Porter's Five Forces Analysis
5.12 Key Market Drivers and Success Factors
6 Market Performance by Magnet Type
7 Market Performance by Key Regions
10 Rare Earth Magnet Manufacturing Process
10.3 Various Types of Unit Operations Involved
10.4 Mass Balance and Raw Material Requirements
11 Project Details, Requirements and Costs Involved
11.6 Raw Material Requirements and Expenditures
11.7 Raw Material and Final Product Pictures
13.1 Capital Cost of the Project
13.3 Product Pricing and Margins Across Various Levels of the Supply Chain
For more information about this report visit https://www.researchandmarkets.com/r/m3od6d
View source version on businesswire.com: https://www.businesswire.com/news/home/20220407005591/en/
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