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Global Permanent Magnet Markets, 2020-2025 by Material Type (Neodymium-Iron-Boron, Ferrite, Samarium Cobalt, Alnico) & End-user (Automotive, Electronics, Industrial, Power Generation)


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The market for permanent magnets is expected to witness a CAGR of more than 6% globally during the forecast period. The rising number of electro-mechanical devices for sustainable energy and growing demand for electric vehicles is driving market growth. Competition from other materials and the associated costs are expected to hinder the market growth.
Key Market Trends
Growing Demand from Electro-mechanical Products
Permanent magnets are increasingly being used in electro-mechanical products for better efficiency purposes. Permanent magnets find their application in renewable energy sources, generators, turbines, DC motors, and linear and rotational actuators, among others. ....

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