Report looks at the global permanent magnet market

January 28, 2014

A report published by Research and Markets focuses on the global permanent magnet industry and includes data on current market trends and sector forecasts. The “2013 Report on the International Permanent Magnet Market – Trends & Forecast To 2018” also includes company profiles on the major permanent magnet producers.

The report states that 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 magnets.

Permanent magnets are made of diverse materials that range from ferrite to rare earth elements. NdFeB permanent magnets, due to their wide areas of applications and numerous advantages, are used in most of the industries, hence they dominate 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 report notes that due to the supply constraint from China, other countries across the globe are finding new ways to reduce the dependence on China for the rare earth minerals. The US government for example is keen on domestic production of the entire supply chain of permanent magnets, which it identifies as critical elements for the defence and energy industry.

www.researchandmarkets.com 

Powder Metallurgy Review magazine cover

In the latest issue of PM Review…

Download PDF

Extensive Powder Metallurgy industry news coverage, and the following exclusive deep-dive articles and reports:

  • Hot Isostatic Pressing for the production of large, near-net shape components
  • Safeguarding PM part usage in a new automotive industry
  • How to make metal powders., Part 3
  • Company profile: Jiangxi Yuean Advanced Materials

The latest news from the world of metal powders, delivered to your inbox

Don't miss any new issue of PM Review, and get the latest industry news. Sign up to our weekly newsletter.

Sign up

From the industry…

Discover our magazine archive…

The free-to-access PM Review magazine archive offers unparalleled insight into the world of Powder Metallurgy from a commercial and technological perspective through:

  • Reports on visits to leading PM part manufacturers, metal powder manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.

 

Browse the archive

 

Looking for PM production equipment, metal powders, R&D support and more?

Discover suppliers of these and more in our
advertisers’ index and buyer’s guide, available in the back of PM Review magazine.

  • Powders & materials
  • Powder process, classification & analysis
  • PM products
  • Atomisers & powder production technology
  • Compaction presses, tooling & ancillaries
  • Sintering equipment & ancillaries
  • Post-processing
  • Consulting & toll sintering
Download PDF
Share via
Copy link