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Major factors expected to drive the market during the forecast period include growth of the automotive sector due to technological advances as well as increased consumer goods demand. Due to the growing consumer spending and the increasing internet penetration across the world, the market is being driven by the rising sales of electronic devices such as mobile phones, tablets, televisions, and computers. Thanks to rising customer awareness and government initiatives and schemes, sales of electric and hybrid vehicles are increasing around the world, propelling the rare earth magnet market expansion.
Furthermore, the market is expected to benefit from the substantial expansion of the wind energy generation industry as a result of rapid industrialisation, population growth, and increased demand for electricity. However, the rare earth magnet market can be hampered by price fluctuations in rare earth materials such as dysprosium and neodymium as a result of China's ban on exporting rare earth elements to other regions.
Rare Earth Magnet Market Trends
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Rare Earth Magnet Market Analysis
8.1 Key Industry Highlights
8.2 Global Rare Earth Magnet Historical Market (2018-2023)
8.3 Global Rare Earth Magnet Market Forecast (2024-2032)
8.4 Global Rare Earth Magnet Market by Magnet Type
8.4.1 NdFeB Magnets
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 SmCo Magnets
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Rare Earth Magnet Market by Application
8.5.1 NdFeB Magnets
8.5.1.1 Automobile
8.5.1.1.1 Historical Trend (2018-2023)
8.5.1.1.2 Forecast Trend (2024-2032)
8.5.1.2 Electronics
8.5.1.2.1 Historical Trend (2018-2023)
8.5.1.2.2 Forecast Trend (2024-2032)
8.5.1.3 Power Generators
8.5.1.3.1 Historical Trend (2018-2023)
8.5.1.3.2 Forecast Trend (2024-2032)
8.5.1.4 Medical Industry
8.5.1.4.1 Historical Trend (2018-2023)
8.5.1.4.2 Forecast Trend (2024-2032)
8.5.1.5 Wind Power
8.5.1.5.1 Historical Trend (2018-2023)
8.5.1.5.2 Forecast Trend (2024-2032)
8.5.1.6 Others
8.5.2 SmCo Magnets
8.5.2.1 Defence
8.5.2.1.1 Historical Trend (2018-2023)
8.5.2.1.2 Forecast Trend (2024-2032)
8.5.2.2 Aerospace
8.5.2.2.1 Historical Trend (2018-2023)
8.5.2.2.2 Forecast Trend (2024-2032)
8.5.2.3 Electronics
8.5.2.3.1 Historical Trend (2018-2023)
8.5.2.3.2 Forecast Trend (2024-2032)
8.5.2.4 Medical Devices
8.5.2.4.1 Historical Trend (2018-2023)
8.5.2.4.2 Forecast Trend (2024-2032)
8.5.2.5 Motors, Actuators and Industrial Application
8.5.2.5.1 Historical Trend (2018-2023)
8.5.2.5.2 Forecast Trend (2024-2032)
8.6 Global Rare Earth Magnet Market by Region
8.6.1 China
8.6.2 Japan
8.6.3 Europe
8.6.4 United States
8.6.5 Others
9 Regional Analysis
9.1 China
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Japan
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Europe
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 United States
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Manufacturing Process
12.1 Overview
12.2 Detailed Process Flow
12.3 Operations Involved
13 Project Details and Cost Analysis
13.1 Land, Location and Site Development
13.2 Construction
13.3 Plant Layout
13.4 Plant Machinery
13.5 Raw Material Requirement
13.6 Packaging
13.7 Transportation
13.8 Utilities
13.9 Manpower
13.10 Other Capital Investment
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Proterial Ltd.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Shin-Etsu Chemical Co., Ltd
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Arnold Magnetic Technologies
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Bunting Magnetics Co.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Electron Energy Corporation
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Rare Earth Magnet Market: Key Industry Highlights, 2018 and 2032
2. Global Rare Earth Magnet Historical Market: Breakup by Magnet Type (USD Million), 2018-2023
3. Global Rare Earth Magnet Market Forecast: Breakup by Magnet Type (USD Million), 2024-2032
4. Global Rare Earth Magnet Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Rare Earth Magnet Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Rare Earth Magnet Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Rare Earth Magnet Market Forecast: Breakup by Region (USD Million), 2024-2032
8. Global Rare Earth Magnet Market Structure
In 2023, the global market attained a value of nearly USD 20,158.30 million.
The market is projected to grow at a CAGR of 9.1% between 2024 and 2032.
The major drivers of the market include growing internet penetration, rising sales of electronic devices, rising customer awareness through government initiatives and schemes, expansion of wind energy generation plants, and rapid industrialisation.
The growth in the automotive industry, fuelled by technological advances, and increased consumer demand are the key market trends.
The major regions in the market are China, Japan, Europe, the United States, and others.
The market is divided, based on magnet type, into NdFeB magnets and SmCo magnets.
In terms of application, NdFeB magnets can be categorised into automobile, electronics, power generators, medical industry, and wind power, among others. Meanwhile, the different applications of SmCo magnets are defence, aerospace, electronics, and medical devices, among others.
The major players in the market are Proterial Ltd, Shin-Etsu Chemical Co., Ltd, Arnold Magnetic Technologies, Bunting Magnetics Co., and Electron Energy Corporation, Others, among others.
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