Marché indien des aimants en terres rares – Tendances et prévisions de l’industrie jusqu’en 2029

Analyse et taille du marché

Les aimants aux terres rares sont une invention relativement récente. Leur origine remonte à la fin des années 1960, lorsque des scientifiques du laboratoire des matériaux de l'armée de l'air américaine ont développé un alliage yttrium-cobalt aux caractéristiques magnétiques extrêmement fortes. Le Dr Masato Sagawa a créé les premiers aimants en néodyme (NdFeB) au Japon, qui offraient un niveau de performance élevé et ont inauguré une nouvelle ère de la technologie magnétique. Les aimants aux terres rares ont rapidement attiré l'attention des fabricants et ont rapidement été découverts dans des produits de consommation et des produits professionnels.

Data Bridge Market Research estime que le marché indien des aimants en terres rares devrait atteindre 479,47 millions USD d'ici 2029, à un TCAC de 7,8 % au cours de la période de prévision. Le rapport périodique sur le marché des aimants en terres rares couvre également en profondeur l'analyse des prix, l'analyse des brevets et les avancées technologiques.

Définition du marché

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.

India Rare Earth Magnet Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail below:

Drivers

• Continuous rise in demand for permanent magnet

Permanent magnets can maintain their magnetic properties even when exposed to a magnetic field. Rare earth, a type of permanent magnet, is a group of 17 metals, classified into lights and heavies depending on their atomic number, and are crucial to high-tech manufacturing products. Permanent magnets composed of rare earth minerals are essential components of climate-friendly products such as electric automobiles and wind turbines and other technology such as phones, refrigerators, missiles, and fighter jets. They form an essential part of the global rare earth supply chain, turning the processed minerals into valuable inputs for electronics and weapons manufacturers.

• Penetration of electric vehicles across the market

The automobile industry is concentrating on incorporating lightweight, compact, and affordable electrical components inside the vehicle system to assure reduced costs and optimal space utilization. Neodymium magnets are permanent magnets produced from a composition of neodymium, iron and boron. The material is still the most potent form of rare earth permanent magnet. In addition, neodymium magnets were safe to find in devices like hard drives, microphones, speakers, headphones, and magnetic bearings, but currently, neodymium magnets in electric motors are even more widespread than in electric motors they appear. Therefore, increasing global E.V. car demand is expected to boost the demand for rare earth magnet material.

Opportunity

• Growing demand for rare earth elements in the renewable energy sector

Renewable energy is energy produced from natural sources or from renewable resources that are constantly replenished. India is the third-largest energy consumer in the world after the U.S. and China. Thus, India's increasing demand for energy and power forces the government to search for new ways to generate energy, especially renewable. This has led India to constantly invest in and develop its renewable energy sector. As of January 2022, India's installed renewable energy capacity stood at 152.36 GW, representing 38.56% of the overall installed power capacity. This has positioned India fourth across the world regarding installed renewable power capacity. The rapid transition towards renewable energy favours India's rare earth elements market as rare earth elements have various nuclear, metallurgical, chemical, catalytic, electrical, magnetic, and optical properties, which makes them widely applicable in clean technologies and renewable energy sectors. It contains intermediate products, including permanent magnets, rare earth magnets, phosphors, alloys, catalysts, and polishing powders. This transition and using rare earth elements have brought technical advancements and innovation to different industries.

Restraints/Challenges

• The higher price range of permanent magnet

Volatile and unpredictable prices for various marketplaces have far-reaching consequences for industrial companies. Unanticipated barriers, such as rising energy costs and unexpected variations in raw material pricing, are disrupting supply chains and making it harder for businesses to stay profitable. The variation in the prices of the raw materials for producing rare earth magnets put up additional costs on the finished product. In addition to this, many companies find it difficult to correctly judge the risk of large fluctuations in raw material costs. When a company faces an increase in raw material costs and a decrease in sales prices at the same time, then the profit margin of the firm tends to decrease to a certain extent. Therefore, highly fluctuating raw material costs and ineffective price management can jeopardize enterprises' success, impacting the market growth.

• Environmental and health concerns associated with rare earth elements mining

Rare earth elements are key elements that are becoming more essential for developing new industries, for the national defence science and technology industry. They are non-renewable, making them a vital strategic resource for a nation. Rare earth functional elements are used in new energy vehicles, national defence equipment, rare earth permanent magnet motors, rail transportation, new energy products and other key areas of vigorous development. This usage drives the demand for the synergistic growth of rare earth products and even promotes the steady development of the rare earth industry. The strategic and economic value of rare earth elements is becoming increasingly prominent. The main countries for mining and distribution of rare earth deposits worldwide include China, the USA, Russia, Brazil, India, Australia, Greenland, and Malaysia. As the importance of rare earth elements increases, countries like Brazil, India, and Russia have started to extract rare elements from earth crust to secure demands and interest. This has resulted in various new mining sites across India in recent years. But, the mining and processing of rare earth metals usually result in significant environmental defects. Many deposits are associated with high concentrations of radioactive elements such as uranium and thorium, which requires different treatment and disposal. The accumulation of rare earth elements in soils has occurred due to pollution caused by the exploitation of rare earth resources. The pollution, environmental effect, and high concentration of radioactive elements have raised environmental-related concerns in rare earth element mining.

Post-COVID-19 Impact on India Rare Earth Magnet Market

COVID-19 significantly impacted the rare earth magnet market as almost every country opted for the shutdown of every production facility except the ones dealing in producing the essential goods. The production of the rare-earth magnet system got hampered during the lockdown. In the post lockdown scenario, the growth of India rare earth magnet market is attributed to the increasing adoption of electric vehicles, consumer products and technologies across all regions and countries. India's increasing wind energy systems are a major factor that contributes to the growth of the India rare earth magnet market.

Manufacturers & solution providers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple research and development activities to improve the technology involved in the rare earth magnet. With this, the companies will bring advanced technologies to the market. In addition, government initiatives related to smart energy system has led to the market's growth

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.

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.

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.   

Competitive Landscape and India Rare Earth Magnet Market Share Analysis

Le paysage concurrentiel du marché indien des aimants aux terres rares fournit des détails sur le concurrent. Les détails inclus sont la présentation de l'entreprise, les finances de l'entreprise, les revenus générés, le potentiel du marché, les investissements dans la recherche et le développement, les nouvelles initiatives du marché, la présence en Inde, les sites et installations de production, les capacités de production, les forces et les faiblesses de l'entreprise, le lancement du produit, la largeur et l'étendue du produit, la domination des applications. Les points de données ci-dessus ne concernent que l'attention portée par les entreprises au marché indien des aimants aux terres rares.

Français Certains des principaux acteurs opérant sur le marché indien des aimants en terres rares sont 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.

Méthodologie de recherche

La collecte de données et l'analyse de l'année de base sont effectuées à l'aide de modules de collecte de données avec des échantillons de grande taille. Les données du marché sont analysées et estimées à l'aide de modèles statistiques et cohérents du marché. En outre, l'analyse des parts de marché et l'analyse des tendances clés sont les principaux facteurs de succès du rapport de marché. La principale méthodologie de recherche utilisée par l'équipe de recherche DBMR est la triangulation des données, qui implique l'exploration de données, l'analyse de l'impact des variables de données sur le marché et la validation primaire (expert du secteur). En dehors de cela, les modèles de données comprennent la grille de positionnement des fournisseurs, l'analyse de la chronologie du marché, l'aperçu et le guide du marché, la grille de positionnement des entreprises, l'analyse des parts de marché des entreprises, les normes de mesure, l'analyse des parts de marché de l'Inde par rapport aux régions et des fournisseurs. Veuillez demander un appel d'analyste en cas de demande de renseignements supplémentaires.

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