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Permanent Magnet Market Share, Size, Global Industry Analysis, Segments, Opportunity and Forecast 2027


The global permanent magnet market size is expected to reach $34.70 billion by 2026 owing to the rising need for energy and the use of strong magnets for power generation.Permanent magnets are used in various kinds of loudspeakers, and other home appliances, and are available in variety such as ferrite magnets, alloy magnets, bonded magnets, and others. According to a recently published report by Fortune Business Insights the market value stood at $17.85 billion in 2018 and will exhibit a CAGR of 8.7% in the forecast duration set between 2019 to 2026.
Source: https://www.fortunebusinessinsights.com/permanent-magnet-market-102776

SMMV Manufacturing Plant in Vietnam to Strengthen Portfolio by Increasing Production Capacity
Shin-Etsu Magnetic Materials Vietnam Co., Ltd. (SMMV) completed constructing a manufacturing plant for rare earth magnet in Hai Phong Province of Vietnam in the year 2016 and started operating from June 2017. Rare earth magnets are used for a variety of applications such as electric and hybrid automobiles, hard disk drives, and energy-saving air conditioners.