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World Magnets : World Demand to Rise Annually Through 2019

  • Date Submitted: 10/31/2015 03:46 AM
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Oct   31st   2015   Mumbai, India: Bharatbook.com announces a report on “World Magnets : World demand to rise annually through 2019 ”. 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.
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 ade-quate 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.
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 con-tinuation 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...

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