Outlook on the Rare Earth Magnet Global Market to 2025 – Insights, COVID-19 Impact, Competition and Forecasts
Dublin, Feb. 04, 2021 (GLOBE NEWSWIRE) — The “Global Rare Earth Magnet Market: Analysis by Type (Sintered, Bonded), Composition (NdFeB, SmCo), Application, by Region, by Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The Global Rare Earth Magnet Market valued at USD 13298.44 Million in the year 2019 has been witnessing lucrative growth owing to stringent regulatory standards regarding environment conservation, supportive government policies on energy conservation, as well as growing consumer awareness about product quality. The continuous rise in demand of permanent magnet in Asia Pacific region is driving the demand of industrial products from last few years. The recent technology promises substantial reduction in maintenance costs, which is why it is received by a significantly large number of buyers hailing from diverse industrial backgrounds.
Owing to low production cost in Asian countries backed with rising industrialization, manufacturers are