Study #: W1001 | Published: 07/2019 | Pages: 96 | Individual User License: US$ 5,400

The global permanent magnet market was valued at $12.3 billion in 2018 and is forecast to climb 7.7% annually through 2023 to $17.9 billion, driven by increasing demand for efficient and smaller industrial parts – including sensors, switches, and electronic systems – along with technological advancements, which are boosting sales of more expensive products.

Key Findings in the Magnets Study:

Key Product Trends Through 2023

  • Neodymium, the strongest magnet type currently available, dominates dollar sales, while ferrite magnets, the least expensive on a per kilogram basis, account for the largest share of demand in volume terms.
  • Neodymium magnets are expected to post the fastest value gains of any magnet type, driven by the superior performance they can provide as well as their widespread use in electric vehicles, computers, smartphones, and sensors.
  • China and Japan together produce more than 95% of the global neodymium magnet supply.

Key Market Trends Through 2023

  • The Asia/Pacific region is by far the largest regional market for magnets, commanding 70% of world sales in 2018, due to the presence of China, which is the largest national market by a substantial margin, based on its very large electronics and automobile industries.
  • China alone will account for 56% of all additional magnet sales through 2023.
  • Additionally, China is one of the largest producers of magnetic materials. Although the nation manufactures all of the major magnet types in substantial quantities, neodymium and samarium cobalt magnets account for above average shares of the country’s output, reflecting the easy access to and favorable prices for rare earths that Chinese firms enjoy.
  • In large markets such as electronics and motor vehicles, ongoing efforts to minimize product size and weight while simultaneously adding new features will contribute to growth in sales of neodymium magnets.
  • Automotive-related magnet demand is expected to grow robustly, spurred by increases in motor vehicle output and the number of magnet-using devices installed in the average vehicle. Expanding production of full and plug-in hybrids and electric vehicles, which utilize more magnetic materials than conventional vehicles, will also support market gains.

Study Coverage

This Freedonia industry study analyzes the $12.3 billion global magnet market. It presents historical demand data (2008, 2013, 2018) and forecasts for 2023 by product (neodymium, ferrite, samarium cobalt, alnico), market (electronics, industrial, automotive), and major region. The study also evaluates company market share and analyzes industry competitors including Bejing Zhong Ke San Huan Hi-Tech, Daido Steel, Hengdian Group, Hitachi, JL MAG Rare Earth, Ningbo Yunsheng, Shin-Etsu Chemical, and TDK.


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Table of Contents

1. Market Brief

2. Global Market Overview

Demand by Region

Raw Materials

Rare Earths

Cobalt

Pricing

Technological Development

Growing Focus on Alternatives to Neodymium & Dysprosium

Energy Efficient & Hybrid Motors

Recycling & Reuse of Magnets & Rare Earths

Designing Permanent Magnets Using Additive Manufacturing for Electric Motors

Global Shift to Renewable Energies (Wind, Fuel Cells) & Low-Carbon Economy

Regulatory Trends

Chinese Manufacturing Regulations for Rare Earth Elements & Magnets

Chinese Export Restrictions on Rare Earth Elements

Ban on Chinese Rare Earth Products by the US for Military Applications in 2018

Trade War Between China & the US

3. Products

Demand by Product

Neodymium

Ferrite

Samarium Cobalt

Alnico & Other Magnets

4. Markets

Demand by Market

Electronics

Industrial

Automotive

Other Markets

5. Regions

North America: Demand by Product & Market

North America: Demand by Country

United States

Canada & Mexico

Central & South America: Demand by Product & Market

Europe: Demand by Product & Market

Europe: Demand by Country

Germany

France

United Kingdom

Other Europe

Asia/Pacific: Demand by Product & Market

Asia/Pacific: Demand by Country

China

Japan

South Korea

Thailand

India

Malaysia

Taiwan

Other Asia/Pacific

Africa/Mideast: Demand by Product & Market

6. Industry Structure

Key Findings & Industry Composition

Market Share

Major Corporate Developments

7. Appendix

Scope

Definitions

Abbreviations

Methodology

Related Studies & Reports

Country Lists by Region

Macroeconomic Assumptions


List of Tables

2. Global Market Overview

Table 2-1 | Global Magnet Demand by Region, 2008 - 2023 (million dollars & thousand metric tons)

Table 2-2 | Global Magnet Prices by Product, 2008 - 2023 (dollars per kilogram)

3. Products

Table 3-1 | Global Magnet Demand by Product, 2008 - 2023 (million dollars & thousand metric tons)

Table 3-2 | Global Neodymium Magnet Demand by Region, 2008 - 2023 (million dollars & thousand metric tons)

Table 3-3 | Global Ferrite Magnet Demand by Region, 2008 - 2023 (million dollars & thousand metric tons)

Table 3-4 | Global Samarium Cobalt Magnet Demand by Region, 2008 - 2023 (million dollars & thousand metric tons)

Table 3-5 | Global Alnico & Other Magnet Demand by Type & Region, 2008 - 2023 (million dollars & thousand metric tons)

4. Markets

Table 4-1 | Global Magnet Demand by Market, 2008 - 2023 (million dollars)

Table 4-2 | Global Electronics Magnet Demand by Region, 2008 - 2023 (million dollars)

Table 4-3 | Global Industrial Magnet Demand by Application & Region, 2008 - 2023 (million dollars)

Table 4-4 | Global Automotive Magnet Demand by Vehicle Type, Application, & Region, 2008 - 2023 (million dollars)

Table 4-5 | Global Demand for Magnets Used in Other Markets by Application & Region, 2008 - 2023 (million dollars)

5. Regions

Table 5-1 | North America: Magnet Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-2 | North America: Magnet Demand by Country, 2008 - 2023 (million dollars)

Table 5-3 | United States: Magnet Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-4 | Canada & Mexico: Magnet Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-5 | Central & South America: Magnet Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-6 | Europe: Magnet Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-7 | Europe: Magnet Demand by Country, 2008 - 2023 (million dollars)

Table 5-8 | Asia/Pacific: Magnet Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-9 | Asia/Pacific: Magnet Demand by Country, 2008 - 2023 (million dollars)

Table 5-10 | China: Magnet Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-11 | Japan: Magnet Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-12 | Africa/Mideast: Magnet Demand by Product & Market, 2008 - 2023 (million dollars)

6. Industry Structure

Table 6-1 | Global Magnet Sales by Company, 2018 (million dollars)

7. Appendix

Table 7-1 | Relevant HS Codes

Table 7-2 | Relevant NAICS & SIC Codes

Table 7-3 | Relevant NACE Codes

Table 7-4 | Abbreviations & Acronyms Used in This Report

Table 7-5 | Countries in North America

Table 7-6 | Countries in Central & South America

Table 7-7 | Countries in Western Europe

Table 7-8 | Countries in Eastern Europe

Table 7-9 | Countries in the Asia/Pacific Region

Table 7-10 | Countries in the Africa/Mideast Region

Table 7-11 | Global Gross Domestic Product by Region & Country, 2008 - 2023 (billion 2017 dollars)

Table 7-12 | Global Manufacturing Value Added by Region & Country, 2008 - 2023 (billion 2017 dollars)


List of Figures

1. Market Brief

Figure 1-1 | Global Magnets Market

2. Global Market Overview

Figure 2-1 | Global Magnet Demand, 2004 - 2018 (billion dollars)

3. Products

Figure 3-1 | Global Magnet Value & Volume Demand Share by Product, 2018

4. Markets

Figure 4-1 | Magnet Demand Share by Market, 2008 - 2023 (million dollars)

5. Regions

Figure 5-1 | United States: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-2 | Canada & Mexico: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-3 | Central & South America: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-4 | Germany: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-5 | France: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-6 | United Kingdom: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-7 | Other Europe: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-8 | China: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-9 | Japan: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-10 | South Korea: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-11 | Thailand: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-12 | India: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-13 | Malaysia: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-14 | Taiwan: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-15 | Other Asia/Pacific: Magnet Demand, 2004 - 2018 (million dollars)

Figure 5-16 | Africa/Mideast: Magnet Demand, 2004 - 2018 (million dollars)

6. Industry Structure

Figure 6-1 | Global Magnet Market Share by Company, 2018 (billion dollars)

7. Appendix


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