"What’s Fueling Executive Summary Samarium Cobalt Magnets Market Size and Share Growth

CAGR Value

Samarium cobalt magnets market will grow at a rate of 3.95% for the forecast period of 2021 to 2028.

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Samarium Cobalt Magnets Market Outlook & Forecast

Segments

• Type: Samarium Cobalt Magnets can be segmented into Sm1Co5, Sm2Co17, and others based on the type. Sm2Co17 magnets are expected to dominate the market due to their higher magnetic properties.
• Application: The market can be divided based on applications into aerospace, automotive, electronics, medical, and others. The automotive sector is anticipated to witness significant growth owing to the rising demand for electric vehicles.
• End-Use Industry: Segmentation based on end-use industry includes manufacturing, energy, consumer goods, and others. The manufacturing sector is likely to hold a substantial market share due to the increasing usage of robotics and automation.
• Region: Geographically, the market can be segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific is expected to lead the market due to high industrialization and technological advancements in countries like China and Japan.

Market Players

• Arnold Magnetic Technologies
• Adams Magnetic Products
• Tengam Engineering
• Daido Steel Co., Ltd.
• Shin-Etsu Chemical Co., Ltd.
• Hitachi Metals, Ltd.
• Lynas Corporation