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World Magnets to 2019

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Date: 30-Oct-2015
No. of pages: 349
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World demand to rise 7.3% annually through 2019

Worldwide demand for permanent magnets, 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 magnets 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.

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.

Neodymium magnets to post fastest market gains

Neodymium, the strongest magnet type currently available, dominates dollar sales, while ferrite magnets, the least expensive 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.

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 plugin hybrids and electric vehicles, which use more magnetic materials than conventional vehicles, will also support overall market gains.

Company Profiles

Profiles of 54 players in the US industry such as Ampacet, DuPont, Mitsui Chemicals, PolyOne, RTP & Teknor Apex

Additional Information

This study analyzes global supply of and demand for permanent magnets, “hard” materials that can be magnetized (gain the ability to attract iron and other ferromagnetic objects) by an external magnetic field and remain magnetized after the external field is removed. The major product types are neodymium (also called neodymium-iron-boron, NdFeB, and neo), ferrite (or ceramic), samarium cobalt (or SmCo), and alnico and other (iron chromium cobalt or FeCrCo, samarium iron nitride or SmFeN, etc.) magnets. The major magnet markets are automotive (automobiles, buses, trucks, and vans, along with associated parts), electronics (computers, electromedical equipment, mobile phones, etc.), industrial (including manufacturing and processing machinery, material handling products, and wind turbines and other power generation equipment), and other (electric bicycles, household appliances, motorcycles, refrigerator magnets, etc.).

Excluded from the scope of the study are hard magnetic recording media (audio tape, credit card magnetic strips, etc.) and “soft” magnetic materials used in electromagnets, which only become magnetized when wound with currentcarrying wire and lose their magnetic field when the current is turned off.  

World Magnets to 2019

Table of Contents

Introduction X

I. Executive Summary 1

II. Market Environment 4
General 4
World Economic Overview 5
Recent Historical Trends 5
World Economic Outlook 6
World Durable Goods Manufacturing Outlook 9
World Motor Vehicle Production Trends 12
World Hybrid & Electric Vehicle Outlook 16
World Electronic Equipment Outlook 18
World Electric Motor Shipments 20
Pricing Patterns 23
Technological Trends 28
Legal & Regulatory Environment 31

III. World Supply & Demand 35
General 35
Regional Overview 36
Demand 37
Production 43
International Trade 45
Demand by Product 47
Neodymium 50
Ferrite 52
Samarium Cobalt 54
Alnico & Other 57
Alnico 58
Other 59
Demand by Market 61
Electronics 63
Industrial 64
Automotive 66
Conventional Motor Vehicles 70
Hybrid/Electric Vehicles 70
Other 71
Electric Bicycles & Motorcycles 72
All Other 73

IV. North America 74
Economic Overview 74
Magnet Supply & Demand 75
Magnet Market Outlook 78
United States 80
Canada 85
Mexico 90

V. Western Europe 96
Economic Overview 96
Magnet Supply & Demand 97
Magnet Market Outlook 100
Germany 103
France 109
Italy 115
United Kingdom 121
Switzerland 126
Other Western Europe 131
Spain 138
Denmark 139
All Other 140

VI. Asia/Pacific 142
Economic Overview 142
Magnet Supply & Demand 143
Magnet Market Outlook 146
China 149
Japan 156
South Korea 162
Thailand 168
Malaysia 173
India 178
Taiwan 184
Vietnam 190
Indonesia 196
Other Asia/Pacific 202

VII. Other Regions 208
Central & South America 208
Economic Overview 208
Magnet Supply & Demand 209
Magnet Market Outlook 211
Eastern Europe 213
Economic Overview 213
Magnet Supply & Demand 215
Magnet Market Outlook 217
Russia 220
Czech Republic 225
Other Eastern Europe 230
Hungary 236
Poland 237
All Other 238
Africa/Mideast 239
Economic Overview 239
Magnet Supply & Demand 240
Magnet Market Outlook 242

VIII. Industry Structure 245
General 245
Industry Composition 246
Market Share 249
Research & Product Development 254
Manufacturing 255
Marketing & Distribution 256
Cooperative Agreements 258
Company Profiles 264
Advanced Technology & Materials Company Limited 265
Aichi Steel Corporation 266
Anhui Astromagnet Company Limited 267
Anhui Earth-Panda Advance Magnetic Material Company Limited 269
Baotou Mengxi Magnetism Industrial, see China Northern Rare Earth Group High-Tech
Baotou Research Institute of Rare Earths, see China Northern Rare Earth Group High-Tech Beijing Jingci Magnet Company 271
Beijing Zhong Ke San Huan Hi-Tech Company Limited 272
Chengdu Galaxy Magnets Company Limited 275
China Northern Rare Earth Group High-Tech
Company Limited 276
Daido Steel Company Limited 278
Farinia Group 280
Fujian Changting Golden Dragon Rare-Earth, see
Xiamen Tungsten Guangdong TDK Rising Rare Earth High Technology Material, see Rising Nonferrous Metals and TDK
Guangzhou Newlife Magnet Electricity Company Limited 281
Hangzhou Permanent Magnet Group Company Limited 283
Hengdian Group Holdings Limited 284
Hitachi Limited 286
Hunan Aerospace Magnet & Magneto Company Limited 290
Inner Mongolia Baotou Steel Rare-Earth Group Hi-Tech, see China Northern Rare Earth Group High-Tech
Inner Mongolia Baotou Steel Rare Earth Magnetic
Material, see China Northern Rare Earth Group High-Tech
Intermetallics Japan, see Daido Steel JAHWA Electronics Company Limited 292
JPMF Guangdong Company Limited 293
Kaneka Corporation 295
Kolektor Group doo 296
Magnum Magnetics Corporation 297
Magtech Industrial Company 299
MagX Company Limited 300
Mahindra & Mahindra Limited 302
MS-Schramberg GmbH & Company KG 303
Neorem Magnets, see OM Group Ningbo Jinji Strong Magnetic Material Company Limited 304
Ningbo Jintian Copper Group Company Limited 306
Ningbo Ketian Magnet, see Ningbo Jintian Copper Group Ningbo Permanent Magnetics Company Limited 307
Ningbo Yunsheng Company Limited 308
OM Group Incorporated 310
One Magnet Electronic Company Limited 312
Pacific Metals, see Hitachi Rising Nonferrous Metals Company Limited 314
Shanghai Ruiyuan Magnetic Material Technology, see China Northern Rare Earth Group High-Tech
Shenyang General Magnetic Company Limited 315
Shin-Etsu Chemical Company Limited 316
Taiyuan Twin-Tower Aluminum Oxide, see Hengdian Group Holdings TDK Corporation 318
Thomas and Skinner Incorporated 320
Ugimag Group, see Farinia Group VACUUMSCHMELZE, see OM Group Westmag Technology Corporation Limited 321
Xiamen Tungsten Company Limited 322
Yantai Shougang Magnetic Materials Incorporated 323
Yantai Zhenghai Magnetic Material Company Limited 324
YX Magnetic SA 325
Zhejiang Innuovo Magnetics, see Hengdian Group Holdings Zhejiang Kaiven Holdings Group Company Limited 326
Other Companies Mentioned in Study 327

List of Tables

Section I -- Executive Summary
Summary Table 3

Section II -- Market Environment
1 World Gross Domestic Product by Region 9
2 World Durable Goods Manufacturing Value Added by Product & Region 12
3 World Motor Vehicle Production by Type & Region 16
4 World Hybrid & Electric Vehicle Sales by Type & Region 18
5 World Electronic Equipment Manufacturing Value Added by Region 20
6 World Electric Motor Shipments 23
7 World Magnet Prices 27

Section III -- World Supply & Demand
1 World Magnet Value Demand by Region 39
2 World Magnet Volume Demand by Region 40
3 World Magnet Shipments by Region 44
4 World Magnet Net Exports by Region 46
5 World Magnet Demand by Product 48
6 World Neodymium Magnet Demand by Region 52
7 World Ferrite Magnet Demand by Region 54
8 World Samarium Cobalt Magnet Demand by Region 56
9 World Demand for Alnico & Other Magnets by Type & Region 58
10 World Magnet Demand by Market 62
11 World Electronics Magnet Demand by Region 64
12 World Industrial Magnet Demand by Application & Region 66
13 World Automotive Magnet Demand by Vehicle Type, Application, & Region 69
14 World Demand for Magnets Used in Other Markets by Segment & Region 72

Section IV -- North America
1 North America: Magnet Supply & Demand 77
2 North America: Magnet Demand by Product & Market 79
3 United States: Magnet Supply & Demand 83
4 United States: Magnet Demand by Product & Market 85
5 Canada: Magnet Supply & Demand 88
6 Canada: Magnet Demand by Product & Market 90
7 Mexico: Magnet Supply & Demand 93
8 Mexico: Magnet Demand by Product & Market 95

Section V -- Western Europe
1 Western Europe: Magnet Supply & Demand 100
2 Western Europe: Magnet Demand by Product & Market 102
3 Germany: Magnet Supply & Demand 107
4 Germany: Magnet Demand by Product & Market 109
5 France: Magnet Supply & Demand 113
6 France: Magnet Demand by Product & Market 115
7 Italy: Magnet Supply & Demand 119
8 Italy: Magnet Demand by Product & Market 121
9 United Kingdom: Magnet Supply & Demand 124
10 United Kingdom: Magnet Demand by Product & Market 126
11 Switzerland: Magnet Supply & Demand 129
12 Switzerland: Magnet Demand by Product & Market 131
13 Other Western Europe: Magnet Supply & Demand 135
14 Other Western Europe: Magnet Demand by Product & Market 137
15 Other Western Europe: Magnet Supply & Demand by Country 138

Section VI -- Asia/Pacific
1 Asia/Pacific: Magnet Supply & Demand 146
2 Asia/Pacific: Magnet Demand by Product & Market 148
3 China: Magnet Supply & Demand 154
4 China: Magnet Demand by Product & Market 156
5 Japan: Magnet Supply & Demand 160
6 Japan: Magnet Demand by Product & Market 162
7 South Korea: Magnet Supply & Demand 166
8 South Korea: Magnet Demand by Product & Market 168
9 Thailand: Magnet Supply & Demand 171
10 Thailand: Magnet Demand by Product & Market 173
11 Malaysia: Magnet Supply & Demand 176
12 Malaysia: Magnet Demand by Product & Market 178
13 India: Magnet Supply & Demand 182
14 India: Magnet Demand by Product & Market 184
15 Taiwan: Magnet Supply & Demand 188
16 Taiwan: Magnet Demand by Product & Market 190
17 Vietnam: Magnet Supply & Demand 194
18 Vietnam: Magnet Demand by Product & Market 196
19 Indonesia: Magnet Supply & Demand 200
20 Indonesia: Magnet Demand by Product & Market 202
21 Other Asia/Pacific: Magnet Supply & Demand 205
22 Other Asia/Pacific: Magnet Demand by Product & Market 207

Section VII -- Other Regions
1 Central & South America: Magnet Supply & Demand 211
2 Central & South America: Magnet Demand by Product & Market 213
3 Eastern Europe: Magnet Supply & Demand 217
4 Eastern Europe: Magnet Demand by Product & Market 219
5 Russia: Magnet Supply & Demand 223
6 Russia: Magnet Demand by Product & Market 225
7 Czech Republic: Magnet Supply & Demand 228
8 Czech Republic: Magnet Demand by Product & Market 230
9 Other Eastern Europe: Magnet Supply & Demand 233
10 Other Eastern Europe: Magnet Demand by Product & Market 235
11 Other Eastern Europe: Magnet Supply & Demand by Country 236
12 Africa/Mideast: Magnet Supply & Demand 242
13 Africa/Mideast: Magnet Demand by Product & Market 244

Section VIII -- Industry Structure
1 World Magnet Sales by Company, 2014 248
2 Selected Cooperative Agreements 260

List of Charts

Section II -- Market Environment
1 World Magnet Raw Material Prices, 2004-2014 25
2 World Magnet Prices, 2004-2024 27
3 Relative Magnet Size for the Same Maximum Energy Product 29

Section III -- World Supply & Demand
1 World Magnet Demand by Region, 2014 41
2 World Magnet Dollar Demand: Projected 2014-2019 Annual Rate of Growth 42
3 World Magnet Shipments by Region, 2014 45
4 World Magnet Demand by Product, 2014 49
5 World Magnet Demand by Market, 2014 62

Section IV -- North America
1 North America: Magnet Demand by Country, 2014 80

Section V -- Western Europe
1 Western Europe: Magnet Demand by Country, 2014 103

Section VI -- Asia/Pacific
1 Asia/Pacific: Magnet Demand by Country, 2014 149

Section VII -- Other Regions
1 Eastern Europe: Magnet Demand by Country, 2014 220

Section VIII -- Industry Structure
1 World Magnet Market Share, 2014 250

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