The Past And Future Of Strong Neodymium Magnets

  • The magnets are widely used in various industries like electronic industries, chemical industries, mining industries, food processing industries etc. The magnetic industry market is very big and its demand is growing year by year.

      The permanent Neodymium Magnet Manufacturer is undergoing major structural changes. The change started in the mid-1990's and is still going on. The economic globalization has prompted the major players to effect major changes in the production of magnets.

      Current Status

      Magnet Industry: Taking Strides Initially it was the west which was the major producer of magnets but in current economic scenario there has been "paradigm shift". The shift can be seen in the extensive usage of Neodymium - Iron - Boron Magnets both Sintered and Bonded and the rise of magnet industry in Asia. The vast population and the supportive policy of the respective governments, low labor rates, big internal markets have helped in the promotion of these industries. In short it could be said that all of the above factors, have major impact on the global production.

      History

      In the past the invention of hard ferrite magnets brought revolution in the field of automobile industries. It led to the development of permanent magnet motors. Automobiles industries as we know depend largely on these motors. Ferrite magnets in a current industrial scenario are widely produced worldwide and are used in number of applications. Due to its utility, the techno intellects say "Ferrite Magnets are Ubiquitous."

      Current Trends

      In 2005 the global market of magnet was around $7.6 billion. The market for permanent magnet is expected to grow 7.8% per year, from $8.1 billion currently to $11.8 billion in 2011. The most rapid growth is expected in China, Indonesia, Russia, Mexico, Taiwan, India, and Malaysia.

      Market Drivers

      Magnetic Equipment IndustryDue to rapid industrialization in the developing world, the demand of magnet is increasing every year. Year 2006 saw a rapid growth in magnet industry. The maximum consumption of magnets took place in the big industries. Other major consumers were Instrumentation and consumer electronics. The consumption of magnets in various industries can be represented in a chart in a following way:

      Market Share of Different Magnets

      Magnets are vital to various electrical, electronics, automobile and small appliance industries. The magnets which is demanded highly in the market is ceramic hard ferrite magnet followed by bonded ferrites. The other magnet which has good demand in the market is Strong Neodymium Magnets. Nowadays, injection molded magnets, metallic magnets and bonded magnets are also registering faster growth.