The global Rare Earth Magnet Market was valued at USD 18,265.8 Million in 2023 and is poised to grow at a CAGR of 7.9% over 2024-2030. It also includes market size and projection estimations for each of the five major regions from 2024 to 2030. The research report includes historical data, trending features, and market growth estimates for the future. Furthermore, the study includes a global and regional estimation and is further split by nations and categories within each region. The research also includes factors and barriers to the Rare Earth Magnet Market growth, as well as their impact on the market's future growth. The report gives a comprehensive overview of both primary and secondary data.
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The global Rare Earth Magnet Market segmentation:
1) By Type: (Neodymium-Iron-Boron Magnet (NdFeB), Samarium Cobalt Magnet (SmCo)
2) By Product: (Countersunk Magnets, Circular Disc Magnets, Hook & Eyebolt Magnets, Cylindrical Rod Magnets, Circular Ring Magnets, Rectangular, Self-Adhesive, Pot & Clamping Magnets)
3) By Application: (Automotive Industry, Food & Drink Processing, Aerospace Industry, Renewable Energy, Consumer Electronics, Deep Sea Exploration, Others
The primary factors of the Rare Earth Magnet Market drivers are Increasing the industry of magnetic products. The Rare Earth Magnet Market report helps to provide the best results for business enhancement and business growth. It further helps to obtain the reactions of consumers to a novel product or service. It becomes possible for business players to take action for changing perceptions. It uncovers and identifies potential issues of the customers. It becomes easy to obtain the reactions of the customers to a novel product or service. It also enlightens further advancement, so it suits its intended market.
The Rare Earth Magnet Market research report gives a comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America was the largest region in the Rare Earth Magnet Market report, accounting for the highest share in 2022. It was followed by Asia Pacific, and then the other regions.
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The important profiles and strategies adopted by the Rare Earth Magnet Market key players are Hitachi Metals Group, Shin-Etsu, TDK, VAC, Arnold Magnetic Technologies, ADAMS Magnetic Products Co., Bunting Magnetics Co., Eclipse Magnetics Ltd., Hangzhou Permanent Magnet Group (HPMG)Ltd., Ningbo NGYC (Ninggang Permanent Magnetic) Materials Co. Ltd., Ningbo Ketian Magnet Co.Ltd., Thomas & Skinner Inc., Beijing Zhong Ke San Huan Hi-Tech, Yunsheng Company, YSM, JL MAG, ZHmag, Jingci Material Science, ATandM is covered here to help them in strengthening their place in the market.
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