The report "Permanent Magnet Market By Types (NdFeb, Ferrite, SmCo, Alnico), End User Industry (Consumer Electronics, General Industrial, Automotive, Medical Technology, Environment & Energy, Aerospace & Defense, Others) & Geography - Trends & Forecast To 2018", defines and segments the permanent magnets market with analysis and forecasting of revenues, and consumption, globally. The permanent magnet market will grow to $18.8 billion by 2018, at a CAGR of 8.7% from 2013 to 2018
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Key content of this market:
The permanent magnet market is witnessing very high growth on account of rising demand for efficiency and increased electrification in all facets of life. The demand for permanent magnets is growing, especially from the automotive and wind energy sectors. It is increasingly used for electric power steering, electric vehicles, and hybrid vehicles. The wind turbine market is another major growth area for permanent magnet. China is a dominant player in the rare earth permanent magnet.2018"

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Permanent magnet are made of diverse materials that range from ferrite to rare earth elements. NdFeB permanent magnet, due to their wide areas of applications and numerous advantages, are used in most of the industries. Hence they dominated the market. Presently, China has the monopoly in the supply of rare earth minerals that are necessary to produce rare earth magnets. It has huge reserves of rare earth minerals that account for 23% of the world’s total rare earth reserves. China produces a vast quantity of two primarily important rare earth minerals required to produce, dysprosium (production share of 99%) and neodymium (production share of 95%).
The Chinese government is taking strategic steps to maintain its leading position as a supplier of rare earth minerals as well as to secure rare earth reserves for its own internal consumption. It has restricted rare earth annual export quotas to less than 35,000 tonnes. The Chinese government is also taking measures to curb non-licensed mining and export of rare earth minerals. The supply constraints from China results in high volatility in the prices of rare earth minerals that results in high prices for rare earth magnets.
Global permanent magnet market comprises of few small market participants with only a few major companies globally. The industry is highly fragmented in terms of segments to which the products are offered. Due to the presence of a number of small players, companies are constantly fighting to capture more market share. The market is dominated by a significant number of smaller Chinese players that are trying to consolidate and merge with each other so as to have increased market presence. The potential opportunities in emerging economies are the ones that the players in this market should be aiming for in future.
This report covers the permanent magnets market and its trends that concern five major geographical regions such as Asia-Pacific, Europe, North America, Latin America, and Middle East & Africa, under various major end-user industries, namely, consumer electronics, general industrial, automotive, medical technology, environment & energy, aerospace & defense, and other end-user industries. Also, the types of permanent magnets that are identified and included are NdFeB, Ferrite, SmCo, and Alnico.