Ferrite magnets dominated the global market, accounting for over 80% of total volumes in 2012. However, in terms of revenue, ferrite magnets accounted for just over 20% of the total revenue for the same year. Ferrite magnets are relatively cheaper than other permanent magnets such as NdFeB magnets, SmCO and Alnico magnets and hence account for a relatively smaller revenue share in the overall market. NdFeB is expected to be the fastest growing product segment, at an estimated CAGR of 9.4% from 2013 to 2020. Growing awareness regarding the benefits offered by NdFeB over other magnets in high performance automotive applications is expected to drive its demand over the forecast period.
The report “Permanent Magnets Industry Trends and Market Segment Forecasts to 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/permanent-magnets-industryAbout Grand View Research
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