The global magnet market reached a value of US$ 40.1 Billion in 2023. As per the analysis by IMARC Group, the demand for magnets is being driven by the development of magnetic levitation (maglev), a relatively new transportation technology, in which non-contacting vehicles travel safely at a speed of 250 to 300 miles-per-hour or higher, while suspended, guided, and propelled above a guideway by magnetic fields. In addition to this, the leading market players are introducing product miniaturization and devices with lower carbon footprints. Looking forward, IMARC Group expects the market to reach US$ 57.8 Billion by 2032, exhibiting at a CAGR of 4% during 2024-2032.
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Establishment: 1895
Headquarter: New York, United States
Website: https://www.arnoldmagnetics.com/
Arnold is a US-based corporation and an innovative industrial magnet manufacturer with several ITAR locations complying with DFARS throughout the supply chain. It is a leading manufacturer of high-performance permanent magnets, flexible composites, electromagnets, magnetic assemblies and precision thin metal foils. The high-performance permanent magnets are used in electric motors of ships, aircraft, and motorsport cars to pump couplings, batteries, solar panels, and NMR equipment. The technologies utilized by the company help it to be at the leading edge of innovation. Moreover, the custom magnet production and fabrication ensures that the customers receive products that are specifically catered to their unique design requirements.
Establishment: 1950
Headquarter: Illinois, United States
Website: https://www.adamsmagnetic.com/
Adams Magnetic Products Co. is a leader in engineering and manufacturing magnetic products. It produced its first round-base magnet assembly back in 1950, which is still a bestseller in the present time. The company looks beyond magnet for application and provides cost-saving opportunities to the customers. Adams is equipped to fabricate large and small volumes of custom assemblies and can work with any and all magnet materials. They also offer engineering assistance to any design or can work from an established print. Moreover, all the necessary components are sourced to create a complete assembly and ready the end product.
Establishment: 1956
Headquarter: Tokyo, Japan
Website: https://www.hitachi-metals.co.jp/e/
As one of the leading suppliers of magnetic materials, Hitachi Metals Limited boats an extensive range of magnets, including Neomax rare earth magnet and ferrite magnet. It provides products across a wide range of fields, encompassing automobile, electronics, and home appliances. The company takes challenges of new materials and new production technologies to meet the diverse need of customers and contributes to the creation of a more energy-efficient society. Furthermore, the growing demand for high performance and improvements in magnetic properties of magnets used in motors is facilitated by Hitachi Metal Limited. The company is making necessary improvements in features and performance to enable a wide range of applications and methods. It is also developing magnets for use in energy-saving and efficient home electronics as well as electric and hybrid cars.
Establishment: 2000
Headquarter: Beijing, China
Website: http://www.magmat.com/
BGRIMM Magnetic Materials and Technology Co. Limited is a pacesetting technologically advanced corporation. The company is engaged in producing, researching, and developing magnetic materials and devices and is known as one of the earliest developers and manufacturers of ferrite in China. The products are sold to manufacturers in various places of China, European Union, the United States, North America, Japan, Hong Kong, and Taiwan. The company also owns a high-quality professional and scientific research team and a group of famous experts from home and abroad engaged in long-term product developments.
About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the magnet industry, which has enabled clients to set up and expand their businesses successfully. Some of the company’s offerings include:
Rare earth magnets are primarily made from two types of rare earth metals: neodymium and samarium. These metals are found in abundance in several countries worldwide, including China, the United States, Australia, and Brazil. China, however, is the largest producer and supplier of rare earth metals, accounting for over 70% of the world's production. The production process of rare earth magnets involves extracting the metals from their ores, refining them, and then transforming them into magnet alloy through a process known as sintering. Sintering is a process of compacting and forming a solid mass by heating a powdered material without melting it. The sintered material is then magnetized, and the magnets are formed into their desired shapes.
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The two most commonly used types of rare earth magnets are neodymium magnets and samarium cobalt magnets. Neodymium magnets are the strongest type of rare earth magnets and have a wide range of applications, such as in electric motors, headphones, wind turbines, and MRI machines. Samarium cobalt magnets, on the other hand, have high resistance to heat and corrosion, making them suitable for use in aerospace and defense applications, such as in missile guidance systems, satellites, and electric motors for aircraft.
Other types of rare earth magnets include dysprosium, terbium, and gadolinium magnets. These types of magnets are used in specific applications, such as in nuclear magnetic resonance imaging, magneto-optical devices, and in electronic devices that require high-temperature stability.
The production of rare earth magnets is associated with environmental and health impacts. The mining of rare earth metals often leads to soil and water pollution, as well as habitat destruction, which can result in the loss of biodiversity. The production process also releases harmful gasses and particles, such as sulfur dioxide and particulate matter, which can cause respiratory problems and other health issues.
Despite these considerations associated with rare earth magnets, they provide significant benefits to various industries. Rare earth magnets have a high magnetic strength, which enables them to produce strong magnetic fields with minimal input power. They are also resistant to demagnetization and can maintain their magnetic strength over long periods. Additionally, rare earth magnets are small and lightweight, making them ideal for use in portable electronic devices. They are also energy-efficient, as they can convert electrical energy into mechanical energy with high efficiency.
As a result of these beneficial properties, rare earth magnets have a wide range of applications across various industries, including:
In consumer electronics, they are used in smartphones, computers, headphones, and other audio devices.
Medical devices, such as MRI machines and pacemakers, also rely on rare earth magnets.
Renewable energy sources, such as wind turbines and electric vehicles, use rare earth magnets to generate electricity and power electric motors.
In aerospace and defense, rare earth magnets are used in missile guidance systems, satellites, and other applications that require high strength and resistance to heat and corrosion.
Industrial automation and robotics also use rare earth magnets in various applications.
Rare earth magnets are widely used in electric motors and generators because they provide high magnetic fields in a small size, making them more efficient and compact.
Rare earth magnets are used in the voice coil motor of hard disk drives, which helps position the read/write head to access the data stored on the disk.
Rare earth magnets are used in the propulsion system of Maglev trains, which use magnetic fields to levitate and propel the train along the track.
To ensure you have the most positive outcome when purchasing rare earth magnets from a rare earth magnet supplier, it is important to compare several companies using our directory of rare earth magnet suppliers. Each rare earth magnet supplier has a business profile page highlighting their areas of experience and capabilities, along with a contact form to directly communicate with the supplier for more information or to request a quote. Review each rare earth magnet business website using our patented website previewer to quickly learn what each company specializes in. Then, use our simple RFQ form to contact multiple rare earth magnet companies with the same form.
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