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International News: Global Samarium Cobalt Magnets Market Overview 2018, Demand by Regions, Share and Forecast to 2023 #18158
Posted by: imarcgroup
City: arlington
State: verginia
Postal code: 20101
Country: United states
Contact Person: Kanika Sharma
Telephone: +1-631-791-1145
Company: Imarc Group
Website URL: https://www.imarcgroup.com
Contact Email: kanika.sharma@imarcgroup.com
News Article:
The global samarium cobalt magnets market is witnessing a positive growth. This can be accredited to the several advantages offered by samarium cobalt magnets such as high magnetic strength, extreme thermal stability and resistance against corrosion.



Request a sample report: https://www.imarcgroup.com/request?type=report&id=617&flag=B



A form of rare earth magnets, samarium cobalt (SmCo) magnets are made of an alloy of cobalt and samarium. These magnets exhibit optimal thermal stability, high corrosion resistance and high magnetic strength as compared to neodymium (NdFeB) magnets. In addition to this, samarium cobalt magnets require proper handling owing to their brittle nature and need to be stored in atmosphere with mild temperatures as they are highly susceptible to cracking. A new research report by IMARC Group, ti tled “Samarium Cobalt Magnets Market: Global Industry Trends, Share, Size, Growth, Forecast and Opportunity 2018-2023”, estimates that the market reached a value of US$ 462 Million in 2017.



Read full report with TOC: https://www.imarcgroup.com/prefeasibility-report-samarium-cobalt-magnet-manufacturing-plant



Global Samarium Cobalt Magnets Market Drivers/Constraints:


These magnets are essentially used in various military weapon along with electrical systems in aircrafts for generating power. This is one of the major factors which is driving the growth of the market.
Owing to their high working temperature, samarium cobalt magnets are being increasingly utilised for the applications of aerospace and military. This is another factor which is positively influencing the market growth.
There has been a rise in the demand for miniaturisation of equipment and high magnetic strength in emerging and existing applications. This has highly contributed towards an augmented demand for samarium cobalt magnets across the globe.
However, these magnets are costlier than ferrite magnets and have to be handled with care owing to their brittle nature. This, in turn, has hindered the growth of the market.


Application Insights:



Samarium cobalt magnets are currently being used across various sectors. Defence sector represents the largest application segment, holding the majority of the market share. This can be attributed to the higher curie temperature of samarium cobalt magnet, which is considered ideal for high-field strength. Defence sector is followed by aerospace, motors and actuators, electronics and medical devices.



Regional Insights:



On a geographical front, China enjoys a leading position in the global samarium cobalt magnets market owing to the easily available raw materials which are required to produce samarium cobalt magnets. Other major markets include the United States and Europe.



Competitive Landscape:



The market is fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading pla yers operating in the market are:


Ningbo NGYC (Ninggang Permanent Magnetic) Materials Co. Ltd.
Ningbo Ketian
Arnold Magnetic Technologies
ADAMS Magnetic Products
Bunting
Eclipse Magnetics
Hangzhou Permanent Magnet Group (HPMG)
Thomas & Skinner Inc.
Browse related report:


Rare Earth Magnet Market Research Report: https://www.imarcgroup.com/rare-earth-magnet-manufacturing-plant



Neodymium-Iron-Boron Magnet Market Research Report: https://www.imarcgroup.com/neodymium-iron-boron-magnet-manufacturing-plant



About Us



IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.



IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.



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