India Rare Earth Magnet Market Will Grow At a CAGR of 7.8%, Incredible Growth, Leading Brands, Business Opportunities

Data Bridge Market Research analyses that the India Rare Earth Magnet market is expected to reach USD 479.47 million by 2029, at a CAGR of 7.8% during the forecast period. The periodic earth magnet market report also covers pricing analysis, patent analysis, and technological advancements in depth.

Market Definition

Rare-earth magnets, produced from rare-earth element alloys, are the most powerful permanent magnets accessible today. Rare-earth magnets have significantly superior magnetic qualities to other magnet materials, making them the preferred choice for commercial, industrial, and technical applications. Rare-earth magnets are divided into Neodymium magnets and Samarium Cobalt magnets. Each of the two types of cobalt magnets, neodymium and samarium, has its own set of qualities, benefits, and traits. Both neodymium and samarium cobalt magnets are employed in various industrial, medical, scientific, aeronautical, and automotive applications due to their magnetic solid characteristics and strength. Wind turbine generators, audio equipment like loudspeakers and headphones, motors and servo motors, medical equipment like magnetic resonance imaging (MRI), electronics like computer hard disc drives, and much more employ this material.

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 India Rare Earth Magnet Market Share Analysis

India rare earth magnet market competitive landscape provides details of the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, India presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points are only related to the companies' focus on India's rare earth magnet market.

Some of the major players operating in the India rare earth magnet market are Jai Mag Industries, Star Trace Private Limited, Kumar Magnet Industries, Magna Tronix, JD MAGNETIC IMPEX, Shree Shakti Industries, Ashvini Magnets Pvt. Ltd., DURA MAGNETS PVT. LTD.

Rare Earth Magnet Market Regional Analysis/Insights

India rare earth magnet market is analyzed, and market size insights and trends are provided by country, type, product and application as referenced above.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technological trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Indian brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing a forecast analysis of the country data.   

India Rare Earth Magnet Market Scope

India rare earth magnet market is segmented based on type, products and application. The growth amongst these segments will help you analyze major industry growth segments and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

·         NdFeB Magnet

·         Samarium Cobalt Magnet (SmCo)

Based on type, the India rare earth magnet market is segmented into NdFeB magnet and samarium cobalt magnet (SmCo).

Product

·         Countersunk Magnets

·         Circular Disc Magnets

·         Hook & Eyebolt Magnets

·         Cylindrical Rod Magnets

·         Circular Ring Magnets

·         Rectangular

·         Self-Adhesive

·         Pot & Clamping Magnets

Based on product, the India rare earth magnet market has been segmented into countersunk magnets, circular disc magnets, hook & eyebolt magnets, cylindrical rod magnets, circular ring magnets, rectangular, self-adhesive, pot & clamping magnets.

Application

·         Automotive Industry

·         Food & Drink Processing

·         Aerospace Industry

·         Renewable Energy

·         Consumer Electronics

·         Deep-Sea Exploration

·         Others

Based on application, the India rare earth magnet market has been segmented into the automotive industry, food & drink processing, aerospace industry, renewable energy, consumer electronics, deep-sea exploration, and others.

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Recent Development

·         Kumar Magnetic Industries have developed a wide range of Magnetic Separators based on neodymium-iron-boron (NdFeB) magnet as it offers excellent holding power, despite being thin and compact. These separators also offer protection against corrosion and are available in multiple finishes, depending on your specific requirements. This allowed company to get recognition in the Indian rare earth magnet market.

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