The global permanent magnet market is expected to grow about 12% annually and reach more than $46 billion in revenues in 2026, according to a new market research study. The analysts predict it will grow from $26.59 billion in 2021 to $29.61 billion in 2022, while reaching $46.65 billion in 2026 at a 12.03% growth rate.
The 250-page report “Permanent Magnet Global Market Report 2022”, available from Research And Markets, gives a guide to the strong growth in the permanent magnet market which will be shaping and changing our lives over the next ten years and beyond, including the market’s response to the challenge of the global pandemic.
Market sectors are covered by type of magnet including ferrite, samarium cobalt, alnico and neodymium Iron boron, also by sales channel and end-use application. Companies mentioned include Arnold Magnetic Technologies; Electron Energy Corporation; Daido Steel Co. Ltd.; Chengdu Galaxy Magnets Co. Ltd.; Shin-Etsu Chemical Co Ltd. Others are Goudsmit Magnetics, Adams Magnetic Products Co. Ltd., Bunting Magnetics Co., Tengam Engineering Inc., Yantai Shougang Magnetic Materials Inc., Ningbo Yunsheng Co. Ltd., Eclipse Magnetics, Hangzhou Permanent Magnet Group, Anhui Earth-Panda Advance Magnetic Material Co. Ltd, and Magnequench International LLC. For more info, see www.researchandmarkets.com.