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Global Permanent Magnet Market to Reach USD 22.67 Billion by 2021 - Growing Trend of Modernization & Electrification to Improve Efficiency - Research and MarketsResearch and Markets has announced the addition of the "Permanent Magnet Market - Global Forecast to 2021" report to their offering. The global permanent magnet market is projected to reach USD 22.67 billion by 2021, at a CAGR of 8.8% from 2016 to 2021. The growing trend of modernization and electrification to improve efficiency in various applications such as switches, lifts, and sensors is driving the use of permanent magnets globally. The factor restraining the growth of this market is the fluctuating cost of raw materials. The market for neodymium iron boron magnet is projected to be the largest segment by type in the global permanent magnet market from 2016 to 2021. Neodymium iron boron magnet is the most widely used permanent magnet because of its enhanced properties such as high heat resistance, coercivity, and remanence. Moreover, the rising demand from the automotive and consumer electronics industries is also fueling the growth of neodymium iron boron magnet segment in the permanent mgnet market. Consumer electronics is expected to be the largest end-use industry segment of the global permanent magnet market from 2016 to 2021. The growing demand for consumer electronics products such as printers, fax machines, and scanners is fueling the growth of the permanent magnet market. Moreover, continuing economic development and increasing disposable income levels are also driving the global permanent magnet market in the consumer electronics industry. Companies Mentioned
Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Industry Trends 7 Permanent Magnet Market, By Type 8 Permanent Magnet Market, By End-Use Industry 9 Permanent Magnet Market, By Region 10 Competitive Landscape 11 Company Profile For more information about this report visit http://www.researchandmarkets.com/research/gfnz4r/permanent_magnet View source version on businesswire.com: http://www.businesswire.com/news/home/20170330005525/en/ |
