Deerfield Beach, FL -- (SBWIRE) -- 12/14/2015 -- The Global Permanent Magnets market is accounted for $17.3 billion in 2014, and is projected to register a CAGR of 9.2% to reach $35.1 billion by 2022. The permanent magnets market growth has been impelled by accessibility of fine quality neo magnets and ferrite magnets with lesser dysprosium content, which are also expected to lead the market with rapid growth during the forecast period.

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Growth of global automobile industry is estimated to be a key factor driving permanent magnets market. Factors such as significant growth of automotive industry owing to rising population and technological advancement are the primary driving factors for the permanent magnets market. They are extensively used for a varied range of applications in automotives including economy and pollution control. Permanent magnets are required in components such as gearboxes, alternators and motors in their mechanism. In battery components, engine components, moving car parts and other integral systems large magnets, predominantly NdFeB and ferrite are used. However, factors such as absence of quality control spread across developing countries, variation in costs of raw materials and incompetence to undertake massive investments required in R&D and technology are hampering the growth of this market.

Changing trend towards renewable energy has also contributed to the growth of permanent magnets market. Permanent magnets play a major role in wind energy generation. As the energy is a scarce resource and demand for energy is continuously increasing, the renewable energy plays a crucial role. Permanent magnets are also used in wind turbine which is liable for generating AC electricity.

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On the other hand, an unpredictable price of raw materials including Neodymium (Nd), Dysprosium (Dy), Boron (B) and Iron (Fe) is expected to hamper the market growth over the projected period. Many large scale manufacturers had to substitute NdFeB magnets with ferrite magnets for certain automotive and wind energy generation applications due to the price variation, while other medium scale and small scale companies were extensively affected, resulting in termination.

Some of the key players in permanent magnets market are Arnold Magnetic Technologies, Adams Magnetic Products Co, Dexter Magnetic Technologies Inc, Electron Energy Corporation, Hitachi Metals Ltd, Lynas Corporation Ltd, Molycorp Inc, Shin-Etsu Chemical Co. Ltd, Tengam Engineering Inc, and Ningbo Yunsheng Co. Ltd

Products Covered:
- Ferrite
- Alnico
- Neo (NdFeb)
- SmCo

Applications Covered:
- Electronics
- Automotive
- Energy Generation
- Others

Regions Covered:
- North America
o US
o Canada
- Europe
o Germany
o France
o Italy
o UK
o Spain
- Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Rest of Asia
- Rest of the World
o Latin America
o Middle East
o Africa
o Others

This study highlights current dynamics and developments in the Permanent Magnets market. The report incorporates in-depth analysis of the market growth drivers as well as the inhibiting factors in the Permanent Magnets market. The scope of the report covers an extensive evaluation pertaining to the winning imperatives and stakeholder strategies through a presentation of the segmentation of Permanent Magnets market in the report.

The numerous factors stimulating this market have been evaluated in the sections of this report. Along with the regional analysis, the current trends in the Permanent Magnets market, coupled with the reasons behind the development of some unique segments, have additionally been described in this Permanent Magnets market report. The report highlights the competitive landscape by elaborating on the current mergers and acquisitions (M&A), product developments, and venture funding that took place in the Permanent Magnets market in the recent past.

The section pertaining to the company profiles explains the dominance of the key players in the Permanent Magnets market and an evaluation on the major strategies employed by these key players in order to gain a bigger share in the Permanent Magnets market. This will help enhance the understanding on the competitors as well as help in gaining strong insights for strengthening one's position in the Permanent Magnets market.

There are numerous factors that are considered in order to provide the analysis and forecast of the Permanent Magnets market. Some of the factors are technological, political, social, and economic Permanent Magnets market factors. Various analytical tools such as Porter's Five Forces Analysis and Permanent Magnets market SWOT analysis are utilized to analyze the data of the Permanent Magnets market and help provide a better understanding of the market. The data has been presented via charts, tables, and graphics in Permanent Magnets market research report. This visual presentation of the data is very useful in providing a clearer view of the leading applications, end users, and key segments of the Permanent Magnets market.