Permanent Rare Earth Magnets Market 2021 Industry Outlook, Current Status, Supply-Demand, Growth Opportunities and Top Players Analysis 2030

In a recent published report, Kenneth Research has updated the market report for Permanent Rare Earth Magnets Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Permanent Rare Earth Magnets Market products.

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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.

Permanent Rare Earth Magnets Market – Drivers, Opportunities, Trends & Forecasts: 2015–2022
Permanent magnets are those which retain their magnetic properties even in the absence of an inductive field. Permanent rare earth magnets are the strongest available magnets and are broadly based on two rare earth elements – neodymium and samarium. The rare earth here is a misnomer and these elements are abundantly available in the earth crust. However, due to difficulty and high-cost involvement in refining and purification process, these metals are very costlier limiting the application areas for permanent rare earth magnets.

Currently, China is the global leader in rare earth oxide supply covering more than 90% of the global market. This has translated to Chinese dominance in rare earth magnets market. After China, Japan is the major market for rare earth magnets. Although a significant portion of products end-up being utilized in developed countries of the US and Western Europe; these products are largely sourced from developing countries in South Asian region. The increasing demand for efficient products across the industries would drive the demand for rare earth magnets with highest growth rate expectations from wind turbine market.

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The study of the global permanent rare earth magnets market provides the market size information and market trends along with the factors and parameters impacting it in both short and long term. The study also covers the competitive scenario of the market with respect to the raw material availability, major players with their branding strategies and differentiating factors among others. The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision makers to make better business plans and informed decisions for the future business. In addition, the study helps the venture capitalist in understanding the companies better and take informed decisions.

the global permanent rare earth magnets market is expected to grow at a CAGR of 13.2% during the forecast period to reach $41.41 billion by 2022. Industrial applications segment is expected to maintain global dominance in application segments, whereas China and Japan driven Asia Pacific is expected to increase its dominance in global permanent rare earth magnets market.

The global supply of rare earth metals is expected to remain stable after WTO intervention and international agreements providing opportunities for sustainable market growth. The international players are also looking for other ways to reduce the dependencies, such as options of heavy rare earth free magnets, but the overall market is expected to remain stable in terms of price during the forecast period. Some of the prominent players in the global permanent rare earth magnets market are Hitachi Metals, Vacuumschmelze GmBH & Co. KG, Shin-Etsu Rare Earth Magnet and TDK.

Report Scope:
• Types
o Neodymium Magnets
o Samarium Magnets
• Applications
o Industrial
o Consumer Electronics
o Home Appliances
o Automotive
o Wind Turbines
o Others (such as Medical Equipment, Aerospace)
• Regions
o Asia Pacific
o Europe
o North America
o Rest of the World
• Industry outlook: market trends and drivers, restraints, and opportunities

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About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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