The global permanent magnets market size is projected to reach approximately USD 39.71 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.7% over the forecast period. The rising number of supportive initiatives to promote healthcare infrastructure, especially in developing countries, is projected to aid the market growth over the forecast period. The demand for the product is expected to be driven by the extensive usage in industrial automation amidst the COVID-19 outbreak and rising demand from the healthcare sector. Permanent magnets are used in various medical devices, such as blood separators, surgical devices, dental equipment, patient monitoring systems, drug delivery systems, and Magnetic Resonance Imaging (MRI) scanners, and other essential & non-essential healthcare devices. The COVID-19 outbreak in 2020 played a key role in driving the investments in developing healthcare infrastructure.
Permanent Magnets Market Report Highlights
· The ferrite material segment dominated the market in 2023 mainly due to the wide usage of ferrite magnets in medical devices
· The NdFeB material segment is likely to witness the fastest CAGR, in terms of revenue, over the predicted timeline
· The rising popularity of anti-lock braking system sensors in vehicles is anticipated to aid the segment growth over the coming years
· The medical segment is estimated to be among the key application fields over the forecast period owing to the increased spending in healthcare infrastructure across the globe post-pandemic
· Asia Pacific is estimated to emerge as the largest as well as the fastest-growing regional market, in terms of revenue, from 2024 to 2030. China is projected to remain the key contributor to the regional market of Asia Pacific
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For instance, the Government of India laid out the plan to upend its healthcare spending by nearly 3% of its total GDP by 2022. Such initiatives are likely to drive the product demand in the healthcare sector over the predicted timeline. The product is also significantly used in wearable electronic devices. The global economy is currently witnessing drastic developments in technology, which has led to the proliferation of smart electronic devices. The market for wearable electronics devices, smartphones, and other smart technologies in advanced as well as emerging economies is likely to witness significant growth. This is likely to indirectly benefit the product demand over the forecast period. The global market is fragmented and is characterized by regional concentration. On account of the presence of large-scale rare earth metal deposits in China, numerous small, medium, and large-scale manufacturers are located in close vicinity.
Gain deeper insights on the market and receive your free copy with TOC now @: https://www.grandviewresearch.com/industry-analysis/permanent-magnets-industry/request/rs15
We segmented the global permanent magnets market based on material, application, and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Report on World Magnetic Materials Market by Product Type, Market, Players and Regions-Forecast to 2025 offered by DecisionDatabases.comMagnetic Materials market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability.The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.The report includes the forecasts, Analysis and discussion of important industry trends, market size, market share estimates and profiles of the leading industry Players.Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/52093-world-magnetic-materials-market-report The Players mentioned in our reportShin-Etsu ChemicalElectron EnergyHitachi MetalsTDK CorporationBGRIMMArnold MagneticTengam EngineeringOM GroupAK Steel HoldingLynas CorporationWith no less than 15 top producers.Global Magnetic Materials Market: Product Segment AnalysisSoft Magnetic MaterialsPermanent Magnetic MaterialsGlobal Magnetic Materials Market: Application Segment AnalysisAutomotiveElectronicsEnergy generationIndustrialOthersGlobal Magnetic Materials Market: Regional Segment AnalysisUSAEuropeJapanChinaIndiaSouth East Asia Download Free Sample Report of World Magnetic Materials Market @ https://www.decisiondatabases.com/contact/download-sample-52093 There are 10 Chapters to Deeply Display the World Magnetic Materials Market.Chapter 1 About the Magnetic Materials IndustryChapter 2 World Market Competition LandscapeChapter 3 World Magnetic Materials Market shareChapter 4 Supply Chain AnalysisChapter 5 Company ProfilesChapter 6 Globalisation & TradeChapter 7 Distributors and CustomersChapter 8 Import, Export, Consumption and Consumption Value by Major CountriesChapter 9 World Magnetic Materials Market Forecast through 2025Chapter 10 Key success factors and Market OverviewPurchase the complete World Magnetic Materials Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-52093 Other Reports by DecisionDatabases.com:World High Intensity Magnetic Separator Market Research Report 2025 (Covering USA, Europe, China, Japan, India and etc)World Magnetic Particles Market Research Report 2025About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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Best Top 10 Electrical EXPERIMENTS With Simple Work
Welcome to one more seven day stretch of electrical science experiment at Saturday!
Up this month is Electrical Experiments!
Alright, show of hands who thought I overlooked Science Saturday this month?
I normally post it the first or second seven day stretch of the month, however this month I put it off.
The greater part of these trials are simple and incorporate family unit things.
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8 Electric Science Projects for Kids | Science Fair Models
Attempt these hands-on analyses and Electricity Projects For Kids find out about the study of power, which is the development of decisions between molecules.
Take the evening to investigate the association between power and attraction, distinctive kinds of circuits, and Electricity Projects produced via friction.
Did you realize that power and attraction are firmly connected?
We unquestionably ended up structuring a certain something, attempting it, and after that advancing with another plan.
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