Global Permanent Rare Earth
Magnets Market is expected to grow at a significant CAGR in the upcoming years
as the scope and its applications are increasing across the globe. The
permanent magnets composed of alloys of rare earth elements which have a high
strength are referred to rare earth magnets. The strongest type of permanent
magnets made, rare earth magnets produce considerably stronger magnetic fields
than other types of magnets.
The factors that propel the
growth of the Permanent Rare Earth Magnets Market include increasing demand,
rapid urbanization & industrialization, wide range of applications and
product development & technological innovations. On the other hand, there
are also factors that may hamper the growth of the market such as complexity in
extraction and high cost related to the refining and purification process of
these metals.
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Permanent Rare Earth Magnets
Market is classified on the basis of product type, applications, distribution
channel and geography. The market is segmented by product type as Neodymium
Magnets, Samarium Magnets and others. Permanent Rare Earth Magnets Market is
classified on applications as automotive, aerospace, consumer electronics, home
appliances, industrial, medical equipment, wind turbines, and others. Among
applications, industrial segment is expected to register a noteworthy share in
the Permanent Rare Earth Magnets Market.
Market Segment:
Geographically, this report is
segmented into several key Regions, with production, consumption, revenue
(million USD), market share and growth rate of Permanent Rare Earth Magnets in
these regions, from 2012 to 2022 (forecast), covering
• North America
• Europe
• China
• Japan
• Southeast Asia
• India
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