Permanent Rare Earth Magnets Market– Opportunities in Key Application Sectors by 2022
Overview Permanent magnets are those which retain their magnetic properties even in the absence of an inductive field. Permanent rare earth magnets are the strongest available magnets and are broadly based on two rare earth elements – neodymium and samarium. The rare earth here is a misnomer and these elements are abundantly available in the earth crust. However, due to the difficulty of extraction and high-cost involved in the refining and purification process, these metals are costly. Thus, the application areas for permanent rare earth magnets is limited. Research Methodology The permanent rare earth magnets market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology, wherein our industry experts and panel of primary participants helped in compiling th...