future market growth

Industry Trend Analysis: In 2014, the Global  Permanent Magnets Market  was evaluated around USD 12.52 billion and is expected to reach approximately USD 26.57 billion by 2023 while registering itself at a compound annual growth rate (CAGR) of 8.72% over the forecast period. Rising permanent magnets demand for medical devices that are used for disease discovery, and efficient drug placing is anticipated to boost the market demand. Additionally, rising demand of extraordinary earth magnets for magnetic therapy devices and products utilized for separating white and red blood cells is projected to impact the growth positively. Competitive Outlook and Trend Analysis: Major market players in the global market are Shin-Etsu Chemical Co. Ltd., Daido Steel Co., Ltd, Arnold Magnetic Technologies, Hangzhou Permanent Magnet Group, Electron Energy Corporation, Molycorp Magnequench, Anhui Earth-Panda Advance Magnetic Material Co. Ltd., Hitachi Metals Ltd, TDK Corporat...

Industry Trend Analysis: In 2014, the Global Permanent Magnets Market was evaluated around USD 12.52 billion and is expected to reach approximately USD 26.57 billion by 2023 while registering itself at a compound annual growth rate (CAGR) of 8.72% over the forecast period. Rising permanent magnets demand for medical devices that are used for disease discovery, and efficient drug placing is anticipated to boost the market demand. Additionally, rising demand of extraordinary earth magnets for magnetic therapy devices and products utilized for separating white and red blood cells is projected to impact the growth positively. Growing requirement for rare earth metals like Dysprosium and Neodymium due to its advanced properties like superior saturation magnetization has contributed to extensive use in compact products with augmented pull force and superior magnetic strength. Also, growing rare earth mining in Australia and China has anticipated ensuing as a plenty of feedstock, henc...