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Global Samarium Cobalt (SmCo) Magnet Market: By Application: Defence, Aerospace, Motors, Actuators, and Industrial, Electronics, Medical Devices, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Value Chain Analysis; Manufacturing Process; Competitive Landscape; Industry Events and Developments
Global Samarium Cobalt (SmCo) Magnet Market Outlook
The global samarium cobalt (SmCo) magnet market attained a value of about USD 468 million in 2020. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 3.5% to reach nearly USD 589 million by 2026.
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Extensive Use of Samarium Cobalt (SmCo) in Medical Devices Boosting the Market Growth
The extensive use of samarium cobalt (SmCo) in the medical industry is propelling the market growth. The high-temperature resistive properties of samarium cobalt (SmCo) are increasing the deployment of samarium cobalt (SmCo) in various medical devices, which is augmenting the industry growth. Moreover, the increasing use of samarium cobalt (SmCo) magnets in prostheses, medical implants, and medical sensors owing to their corrosion resistive properties is further bolstering the market growth. As the healthcare sector in developing countries are developing rapidly owing to the introduction of various favourable government initiatives, the demand for devices for advanced imaging is surging. This, in turn, is also increasing the demand for samarium cobalt (SmCo) to enhance the functionality of devices, which is augmenting the market growth. In addition, the high mechanical strength and coercivity of samarium cobalt (SmCo) are increasing its use in various applications, which is providing further impetus to the market growth.
Samarium Cobalt (SmCo): Market Segmentation
Samarium Cobalt (SmCo) refers to a permanent and strong magnet that is made up of the combination of samarium and cobalt. It is a rare-earth magnet and is corrosion-resistant, brittle, and extreme temperature resistant. The excellent properties posited by samarium cobalt makes it ideal for use in extreme conditions in defence and medical devices.
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The major application segments of samarium cobalt (SmCo) are:
- Defence
- Aerospace
- Motors, Actuators, and Industrial
- Electronics
- Medical Devices
- Others
The EMR report looks into the regional markets of samarium cobalt (SmCo) like China, the United States, and Europe, among others.
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Rising Use of Samarium Cobalt (SmCo) in the Defence Industry to Bolster the Market Growth
The rising use of samarium cobalt in the defence sector is propelling the market growth. The high corrosion-resistance and coercivity of samarium cobalt (SmCo) make it ideal for various military applications, such as aircraft and missiles, which is invigorating the industry growth. As samarium cobalt (SmCo) can function in any temperature and pressure, it is extensively used in the electronic components of defence equipment, which is positively impacting the market growth. In addition, the surging use of the product in radar and ground control technology in devices, such as radar magnetron tubes, to aid in focusing the electron beam, is also bolstering the industry growth. Moreover, the growing deployment of samarium cobalt (SmCo) magnets in various cutting-edge defence applications is significantly contributing to the industry growth. Innovations in defence technology and the rising demand for miniature devices are further expected to drive the use of samarium cobalt in the defence industry, which is anticipated to bolster the market growth over the forecast period.
Key Industry Players in the Global Samarium Cobalt (SmCo) magnet Market
The report presents a detailed analysis of the following key players in the global samarium cobalt (SmCo) magnet market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Arnold Magnetic Technologies
- Adams Magnetic Products Co.
- Eclipse Magnetics Ltd
- Hangzhou Permanent Magnet Group., Ltd
- Ningbo Ninggang Permanent Magnetic Materials Co. Ltd. (NGYC)
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Region |
| Breakup by Application | Defence, Aerospace, Motors, Actuators, and Industrial, Electronics, Medical Devices, Others |
| Breakup by Region | China, United States, Europe, Others |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Arnold Magnetic Technologies, Adams Magnetic Products Co., Eclipse Magnetics Ltd, Hangzhou Permanent Magnet Group., Ltd, Ningbo Ninggang Permanent Magnetic Materials Co. Ltd. (NGYC), Others. |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Samarium Cobalt (SmCo) Magnet Market Analysis
8.1 Global Samarium Cobalt (SmCo) Magnet Historical Market (2018-2022)
8.2 Global Samarium Cobalt (SmCo) Magnet Market Forecast (2023-2028)
8.3 Global Samarium Cobalt (SmCo) Magnet Market by Application
8.3.1 Defence
8.3.1.1 Historical Trend (2018-2022)
8.3.1.2 Forecast Trend (2023-2028)
8.3.2 Aerospace
8.3.2.1 Historical Trend (2018-2022)
8.3.2.2 Forecast Trend (2023-2028)
8.3.3 Motors, Actuators, and Industrial
8.3.3.1 Historical Trend (2018-2022)
8.3.3.2 Forecast Trend (2023-2028)
8.3.4 Electronics
8.3.4.1 Historical Trend (2018-2022)
8.3.4.2 Forecast Trend (2023-2028)
8.3.5 Medical Devices
8.3.5.1 Historical Trend (2018-2022)
8.3.5.2 Forecast Trend (2023-2028)
8.3.6 Others
8.4 Global Samarium Cobalt (SmCo) Magnet Market by Region
8.4.1 China
8.4.2 United States
8.4.3 Europe
8.4.4 Others
9 Regional Analysis
9.1 China
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 United States
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 Europe
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Manufacturing Process
12.1 Overview
12.2 Detailed Process Flow
12.3 Operations Involved
13 Project Details and Cost Analysis
13.1 Land, Location, and Site Development
13.2 Construction
13.3 Plant Layout
13.4 Plant Machinery
13.5 Raw Materials Requirement
13.6 Packaging
13.7 Transportation
13.8 Utilities
13.9 Manpower
13.10 Other Capital Investments
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Arnold Magnetic Technologies
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Adams Magnetic Products Co.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Eclipse Magnetics Ltd
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Hangzhou Permanent Magnet Group., Ltd
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Ningbo Ninggang Permanent Magnetic Materials Co. Ltd. (NGYC)
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Samarium Cobalt (SmCo) Magnet Market: Key Industry Highlights, 2018 and 2028
2. Global Samarium Cobalt (SmCo) Magnet Historical Market: Breakup by Application (USD Million), 2018-2022
3. Global Samarium Cobalt (SmCo) Magnet Market Forecast: Breakup by Application (USD Million), 2023-2028
4. Global Samarium Cobalt (SmCo) Magnet Historical Market: Breakup by Region (USD Million), 2018-2022
5. Global Samarium Cobalt (SmCo) Magnet Market Forecast: Breakup by Region (USD Million), 2023-2028
6. Global Samarium Cobalt (SmCo) Magnet Market Structure
Key Questions Answered in the Report
In 2020, the global samarium cobalt (SmCo) magnet market attained a value of nearly USD 468 million.
The market is projected to grow at a CAGR of 3.5% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 589 million by 2026.
The market is being aided by the rising use of samarium cobalt (SmCo) in medical devices and the growing demand for medical implants and sensors offering temperature stability.
The industry is expected to be driven by the growing use of samarium cobalt (SmCo) in military applications, such as aircraft and missiles, and the increasing demand for miniature devices in the defence industry.
The major regions in the industry are China, the United States, and Europe, among others.
The major application segments of samarium cobalt (SmCo) in the industry are defence, aerospace, motors, actuators and industrial, electronics, and medical devices, among others.
The major players in the industry are Arnold Magnetic Technologies, Adams Magnetic Products Co., Eclipse Magnetics Ltd, Hangzhou Permanent Magnet Group., Ltd, and Ningbo Ninggang Permanent Magnetic Materials Co. Ltd. (NGYC), among others.
Analyst Review
The global samarium cobalt (SmCo) magnet market attained a value of nearly USD 468 million in 2020, driven by the rising use of samarium cobalt (SmCo) in medical devices. Aided by the growing use of samarium cobalt (SmCo) in military applications, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 3.5%. The market is projected to reach about USD 589 million by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on application, the samarium cobalt (SmCo) industry can be segmented into defence, aerospace, motors, actuators and industrial, electronics, and medical devices, and others. The major regional markets for samarium cobalt (SmCo) are China, the United States, and Europe, among others. The key players in the above market include Arnold Magnetic Technologies, Adams Magnetic Products Co., Eclipse Magnetics Ltd, Hangzhou Permanent Magnet Group., Ltd, and Ningbo Ninggang Permanent Magnetic Materials Co. Ltd. (NGYC), among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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