Title: Global Samarium Cobalt Magnets Market Size, Share, Price Trends And Forecast 2018-2023
1 Global Samarium Cobalt Magnets Market Fuelled by
Expanding Applications
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3Report Description and Highlights
Report Description
Global Samarium Cobalt Magnets Market Fuelled by
Expanding Applications The global samarium
cobalt magnets market is witnessing a positive
growth. This can be accredited to the several
advantages offered by samarium cobalt magnets
such as high magnetic strength, extreme thermal
stability and resistance against corrosion. A
form of rare earth magnets, samarium cobalt
(SmCo) magnets are made of an alloy of cobalt and
samarium. These magnets exhibit optimal thermal
stability, high corrosion resistance and high
magnetic strength as compared to neodymium
(NdFeB) magnets. In addition to this, samarium
cobalt magnets require proper handling owing to
their brittle nature and need to be stored in
atmosphere with mild temperatures as they are
highly susceptible to cracking. A new research
report by IMARC Group, titled Samarium Cobalt
Magnets Market Global Industry Trends, Share,
Size, Growth, Forecast and Opportunity
2018-2023, estimates that the market reached a
volume of nearly 3,825 Metric Tons in 2017.
4Report Description and Highlights
5Report Description and Highlights
Report Description
- Global Samarium Cobalt Magnets Market
Drivers/Constraints - These magnets are essentially used in various
military weapon along with electrical systems in
aircrafts for generating power. This is one of
the major factors which is driving the growth of
the market. - Owing to their high working temperature, samarium
cobalt magnets are being increasingly utilised
for the applications of aerospace and military.
This is another factor which is positively
influencing the market growth. - There has been a rise in the demand for
miniaturisation of equipment and high magnetic
strength in emerging and existing applications.
This has highly contributed towards an augmented
demand for samarium cobalt magnets across the
globe. - However, these magnets are costlier than ferrite
magnets and have to be handled with care owing to
their brittle nature. This, in turn, has hindered
the growth of the market. -
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6Report Description and Highlights
Report Description
Application Insights Samarium cobalt magnets
are currently being used across various sectors.
Defence sector represents the largest application
segment, holding the majority of the market
share. This can be attributed to the higher curie
temperature of samarium cobalt magnet, which is
considered ideal for high-field strength. Defence
sector is followed by aerospace, motors and
actuators, electronics and medical
devices. Regional Insights On a geographical
front, China enjoys a leading position in
the global samarium cobalt magnets market owing
to the easily available raw materials which are
required to produce samarium cobalt magnets.
Other major markets include the United States and
Europe. Request Sample Of The Report
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7Report Description and Highlights
Report Description
- Browse more related reports
- Global Magnet Market https//www.imarcgroup.com/
magnet-market - Ferrite Magnet Market https//www.imarcgroup.co
m/ferrite-magnet-powder-manufacturing-plant
8Report Description and Highlights
Report Description
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