World Magnets : World demand to rise annually through 2019

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World Magnets World demand to rise annually
through 2019
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Summary
Worldwide demand for permanent mag-nets, which
totaled 11 billion in 2014, is forecast to climb
7.3 percent annually through 2019 to 16.2
billion. In volume terms, world magnet sales will
expand 4 percent per year to over 1 million
metric tons in 2019. Market gains will be driven
by increases in durable goods output as economic
conditions improve and the overall number of
applications for mag-nets rises. The elimination
of rare earth export quotas and taxes by the
Chinese government in 2015 will also support
growth, by helping to ensure that adequate raw
material supplies are available on a global basis
and by further easing pricing pressures following
a period during which neodymium and samarium
cobalt magnet costs unexpectedly spiked.
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Developing area demand to continue leading
gains The Asia/Pacific region is by far the
largest regional market for magnets, with China
the largest national market by a substantial
margin, due in part to the huge size of its
electronics original equipment manufacturing
(OEM) industry. In a continuation of a long term
trend, magnet sales growth in the Africa/Mideast
region, developing parts of Asia, Eastern Europe,
and Central and South America will outpace demand
in Japan, South Korea, the US, and Western Europe
through 2019. China alone will account for
one-half of all additional magnet sales on a
worldwide basis. Like demand, magnet
manufacturing activity varies considerably from
region to region. China is by far the largest
single producer of magnetic materials,
responsible for 58 percent of global out-put in
2014. Although the nation manufactures all of the
major product types in substantial quantities,
neodymium and samarium cobalt magnets account for
above average shares of its total industry
output, reflecting the easy access to and
favorable prices for rare earths that Chinese
firms have historically enjoyed.
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Neodymium magnets to post fastest market
gains Neodymium, the strongest magnet type
currently available, dominates dollar sales,
while ferrite magnets, the least ex-pensive on a
per kilogram basis, account for the largest share
of demand in metric tons. Neodymium magnets are
expected to post the fastest market gains of any
product type through 2019, driven by the superior
performance they can provide. In large markets
such as electronics and motor vehicles, ongoing
efforts to mini-mize product size and/or weight
while adding new features will also contribute to
demand increases.
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Automotive sector to be fastest growing
market Electronics is the largest market for
magnets, followed by industrial and automotive
applications. In most parts of the world,
automotive or industrial applications account for
a larger share of the sales than electronics. In
China and a number of other Asian countries,
however, the electronics market dominates magnet
demand, overpowering the effect other national
markets on global sales patterns.
Automotive-related magnet demand will grow the
fastest through 2019, spurred by increases in
motor vehicle output and the number of
magnet-using devices in the average vehicle.
Expanding production of full and plug-in hybrids
and electric vehicles, which use more magnetic
materials than conventional vehicles, will also
support overall market gains.
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Study coverage This industry study, World
Magnets, presents historical demand data (2004,
2009 and 2014) and forecasts (2019 and 2024) by
product and market for 6 world regions and 23
countries. This study also considers market
environment factors, examines the industry
structure, analyzes company market share, and
profiles 41 global competitors.
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Table of Contents
EXECUTIVE SUMMARY MARKET ENVIRONMENT NORTH
AMERICA WESTERN EUROPE ASIA/PACIFIC OTHER
REGIONS INDUSTRY STRUCTURE
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To view the full Executive Summary and Table
of Contents, please visit World Magnets World
demand to rise annually through 2019
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