Insights on the Samarium Cobalt Magnets Global Market to 2027 - Rise in the Demand for Miniaturization of Equipment Drives Growth

Global Samarium Cobalt Magnets Market

Dublin, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The "Samarium Cobalt Magnets Market: Global Industry Trends, Share, Size, Growth, Forecast and Opportunity 2022-2027" report has been added to ResearchAndMarkets.com's offering.The global samarium cobalt magnets market size reached US$ 534 Million in 2021. Looking forward, the publisher expects the market to reach US$ 641.3 Million by 2027, exhibiting a CAGR of 3.1% during 2021-2027.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor. Samarium cobalt (SmCo) magnets are made using samarium, cobalt, and iron. They are strong permanent magnets that are widely known for their exceptional magnetic strength and high resistance to corrosion or demagnetization. They offer excellent thermal stability and can withstand very high operating temperatures.

As they are very strong and brittle yet susceptible to chipping and cracking, they require storage in low humidity and mild temperature, as well as proper handling and packing.Samarium Cobalt Magnets Market Trends:SmCo magnets are employed in numerous end use industries, such as defense and aerospace, across the globe due to their advantageous properties. This represents one of the key factors strengthening the growth of the market. For instance, they are used in the manufacturing of consumer electronics and medical equipment across the globe. They are also utilized in military weapons and several systems of aircraft to generate power.

Apart from this, there is a rise in the demand for miniaturization of equipment and high magnetic strength in new and existing applications.

This, in turn, is positively influencing the overall sales of SmCo magnets worldwide. Furthermore, with the growing environmental concerns among individuals and governing authorities, there is a considerable increase in the demand for electric and hybrid vehicles around the world.

This is positively influencing the usage of these magnets in the automotive sector. Additionally, leading players are engaging in merger and acquisition (M&A) activities to increase their existing market reach, which is anticipated to fuel the market growth.Competitive Landscape:The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are NingBo NingGang Permanent Magnetic Materials Co., Ltd. (NGYC), Ningbo Ketian Magnet Co., Ltd., Arnold Magnetic Technologies Corporation, ADAMS Magnetic Products Co., Bunting, Eclipse Magnetics Ltd., Hangzhou Permanent Magnet Group Ltd. and Thomas & Skinner Inc.Key Questions Answered in This Report1. What is the size of the global samarium cobalt magnets market?2. What are the key factors driving the global samarium cobalt magnets market?3. What has been the impact of COVID-19 on the global samarium cobalt magnets market?4. What is the breakup of the global samarium cobalt magnets market based on the application?5. What are the key regions in the global samarium cobalt magnets market?

Report Attribute

Details

No. of Pages

111

Forecast Period

2021 - 2027

Estimated Market Value (USD) in 2021

$534 Million

Forecasted Market Value (USD) by 2027

$641.3 Million

Compound Annual Growth Rate

3.1%

Regions Covered

Global

Key Topics Covered: 1 Preface2 Scope and Methodology3 Executive Summary4 Introduction4.1 Overview4.2 Key Industry Trends5 Global Rare Earth Magnets Industry5.1 Market Overview5.2 Market Performance5.2.1 Sales Volume Trends5.2.2 Sales Value Trends5.3 Market Breakup by Magnet Type5.4 Market Breakup by Application5.5 Market Forecast5.6 Major Players6 Global Samarium Cobalt Magnet Industry6.1 Market Overview6.2 Market Performance6.2.1 Volume Trends6.2.2 Value Trends6.3 Impact of COVID-196.4 Price Analysis6.4.1 Key Price Indicators6.4.2 Price Structure6.4.3 Price Trends6.5 Market Breakup by Region6.6 Market Breakup by Application6.7 Market Forecast6.8 SWOT Analysis6.9 Value Chain Analysis6.10 Porter's Five Forces Analysis6.11 Key Success and Risk Factors for Manufacturers7 Market Performance by Region7.1 China7.1.1 Market Trends7.1.2 Market Forecast7.2 USA7.2.1 Market Trends7.2.2 Market Forecast7.3 Europe7.3.1 Market Trends7.3.2 Market Forecast7.4 Others7.4.1 Market Trends7.4.2 Market Forecast8 Market Breakup by Applications8.1 Defence8.1.1 Market Trends8.1.2 Market Forecast8.2 Aerospace8.2.1 Market Trends8.2.2 Market Forecast8.3 Electronics8.3.1 Market Trends8.3.2 Market Forecast8.4 Medical Devices8.4.1 Market Trends8.4.2 Market Forecast8.5 Others8.5.1 Market Trends8.5.2 Market Forecast9 Competitive Landscape9.1 Competitive Structure9.2 Key Players9.3 Key Player Profiles9.3.1 NingBo NingGang Permanent Magnetic Materials Co., Ltd. (NGYC)9.3.2 Ningbo Ketian Magnet Co., Ltd.9.3.3 Arnold Magnetic Technologies Corporation9.3.4 ADAMS Magnetic Products Co.9.3.5 Bunting9.3.6 Eclipse Magnetics Ltd.9.3.7 Hangzhou Permanent Magnet Group Ltd.9.3.8 Thomas & Skinner Inc.10 Samarium Cobalt (SmCo) Magnets Manufacturing Process10.1 Product Overview10.2 Detailed Process Flow10.3 Various Types of Unit Operations Involved10.4 Mass Balance and Raw Material Requirements11 Project Details, Requirements and Costs Involved11.1 Land Requirements and Expenditures11.2 Construction Requirements and Expenditures11.3 Plant Machinery11.4 Machinery Pictures11.5 Raw Material Requirements and Expenditures11.6 Raw Material and Final Product Pictures11.7 Packaging Requirements and Expenditures11.8 Transportation Requirements and Expenditures11.9 Utility Requirements and Expenditures11.10 Manpower Requirements and Expenditures11.11 Other Capital Investments12 Loans and Financial Assistance13 Project Economics13.1 Capital Cost of the Project13.2 Techno-Economic Parameters13.3 Product Pricing13.4 Income Projections13.5 Expenditure Projections13.6 Taxation and Depreciation13.7 Financial Analysis13.8 Profit Analysis

For more information about this report visit https://www.researchandmarkets.com/r/9tlruo

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Global Samarium Cobalt Magnets Market