Global Industrial Rare Earth Magnet Market was valued at USD 1.3 Billion in 2022 and is projected to reach USD 2.0 Billion by 2030, growing at a CAGR of 6.8% from 2024 to 2030.
The Industrial Rare Earth Magnet Market is experiencing significant shifts due to evolving demand and supply dynamics. Recent reports indicate that companies like Lynas are facing challenges due to reduced demand from China, leading to weak prices for key products like neodymium and praseodymium. This has resulted in a 4% decline in Lynas's rare-earth oxide output from the previous quarter, with expectations of continued subdued demand in the coming months. citeturn0news0
Rare earth magnets, particularly neodymium and samarium-cobalt types, are essential in various applications, including electric vehicles, wind turbines, and consumer electronics. The market's growth is closely tied to the global shift towards renewable energy and electric mobility. However, the concentration of rare earth production in countries like China has raised concerns about supply stability and pricing volatility.
In response to these challenges, there is a growing interest in developing alternative materials and manufacturing processes. Research is focusing on greener processing methods for ceramic permanent magnets, such as two-step sintering techniques for SrFe₁₂O₁₉ magnets, which aim to reduce energy consumption and environmental impact. citeturn0academia2
Additionally, advancements in hard ferrite ceramics are being explored as potential substitutes for rare earth magnets. These materials offer a more sustainable and cost-effective solution, with ongoing studies examining sintering strategies to enhance their magnetic properties. citeturn0academia5
Despite these developments, the Industrial Rare Earth Magnet Market remains volatile. Companies are adopting cautious approaches to production and expansion, balancing the need to meet market demand with the realities of fluctuating prices and supply constraints. The outlook for the market depends on factors such as economic recovery in key regions, technological advancements in alternative materials, and geopolitical considerations affecting trade and supply chains.
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Hitachi Metals Group
Shin-Etsu
TDK
VAC
Beijing Zhong Ke San Huan Hi-Tech
Yunsheng Company
YSM
JL MAG
ZHmag
Jingci Material Science
AT&M
NBJJ
Innuovo Magnetics
SGM
Galaxy Magnetic
Zhejiang Zhongyuan Magnetic
Earth- Panda
Magsuper
Daido Electronics
Pinghu Geor Chi Electronics
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Industrial Rare Earth Magnet Market
Automotive
Aerospace & Defense
Power Generation
Industrial Machinery
Other
Based on Types the Market is categorized into Below types that held the largest Industrial Rare Earth Magnet market share In 2023.
Rare-earth Sintered Magnet
Rare-earth Bonded Magnet
Other
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Industrial Rare Earth Magnet Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Industrial Rare Earth Magnet Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Industrial Rare Earth Magnet Market, By Type
6. Global Industrial Rare Earth Magnet Market, By Application
7. Global Industrial Rare Earth Magnet Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Industrial Rare Earth Magnet Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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