Samarium cobalt magnet is made of an alloy of samarium and cobalt. It is a strong permanent magnet and one of the rare earth magnets. Samarium cobalt magnet has a property called anisotropy, that is, samarium cobalt can be magnetized only in the axis of their magnetic orientation.
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Increase in demand from end-use industries such as consumer electronics and medical technology drive the growth of the global samarium cobalt magnet market. Furthermore, rise in demand for permanent magnet in the automotive applications and increase in demand for electric and hybrid vehicles from end-use consumers are expected to drive the growth of the global samarium cobalt magnet market in the near future.
Stringent government regulations on mining of samarium cobalt magnet restrain the growth of the global market. New mergers and acquisitions to increase the market reach in the developing economies are expected to provide lucrative opportunities for the growth of the global market during the forecast period.
The samarium cobalt magnet market is segmented based on type, application, and region. On the basis of type, it is categorized into cylinder, ring, and others. On the basis of application, the market is segmented into general industrial, consumer electronics, medical technology, automotive, aerospace & defense, environment & energy, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include Ningbo Ketian Magnet Co., Ltd., Ningbo NGYC (Ninggang Permanent Magnetic) Materials Co. Ltd., ADAMS Magnetic Products Co., Inc., Arnold Magnetic Technologies Corp., Eclipse Magnetics Ltd., Molycorp Chemicals and Oxides, Hangzhou Permanent Magnet Group (HPMG), Shin-Etsu Chemical Co., Ltd., Hitachi, Ltd., and Lynas Corporation, Ltd.
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Key Benefits for Samarium Cobalt Magnet Market:
- Porters five forces analysis helps analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building.
- The report outlines the current trends and future scenario of the samarium cobalt magnet market from 2017 to 2025 to understand the prevailing opportunities and potential investment pockets.
- An in-depth analysis of the current R&D within the market is provided along with the key dynamic factors.
- The key drivers, restrains, and opportunities and their detailed impact analysis are elucidated in the study.
- The profiles of the key players along with their key strategic developments are enlisted in the report.
Samarium Cobalt Magnet Key Market Segments:
- Consumer Electronics
- General Industrial
- Medical Technology
- Environment & Energy
- Aerospace & Defense
- North America
- Rest of Europe
- South Africa
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA