Samarium Iron Nitrogen Magnet Market Trends： the global market size is projected to reach USD 0.06 billion by 203

According to the new market research report “Samarium Iron Nitrogen Magnet - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Samarium Iron Nitrogen Magnet market size is projected to reach USD 0.06 billion by 2030, at a CAGR of 3.5% during the forecast period.

• Global Samarium Iron Nitrogen Magnet MarketSize(US$ Million), 2019-2030

 

Source: QYResearch, "Samarium Iron Nitrogen Magnet - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

 

 

• Global Samarium Iron Nitrogen Magnet Top3Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)

 

Source: QYResearch, "Samarium Iron Nitrogen Magnet - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

 

According to QYResearch Top Players Research Center, the global key manufacturers of Samarium Iron Nitrogen Magnet include Sumitomo Metal Mining, Daido Electronics, etc. In 2023, the global top three players had a share approximately 94.0% in terms of revenue.

 

• Samarium Iron Nitrogen Magnet,Global Market Size, Split by Product Segment

 

Source: QYResearch, "Samarium Iron Nitrogen Magnet - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

 

In terms of product type, currently Anisotropic SmFeN Magnets is the largest segment, hold a share of 70.9%.

• Samarium Iron Nitrogen Magnet,Global Market Size, Split by ApplicationSegment

 

Source: QYResearch, "Samarium Iron Nitrogen Magnet - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

 

 

In terms of product application, currently Consumer Electronics is the largest segment, hold a share of 43.3%.

 

 

Market Drivers:

D1: SmFeN permanent magnet materials can replace NdFeB in some applications and fields. SmFeN series permanent magnet materials are expected to be a new generation of rare earth permanent magnet materials due to their excellent endogenous magnetic properties.

D2: The raw material cost of SmFeN magnetic powder is significantly lower than that of NdFeB magnetic powder. The price of rare earth raw material samarium oxide is much lower than that of neodymium oxide.

D3: SmFeN rare earth magnet is a new generation of rare earth permanent magnet material with higher coercivity and higher magnetic energy, which improves the magnetic performance of traditional flexible bonded magnets to a new level.

 

Restraint:

From the viewpoint of commercial production, the research on the preparation method and process of SmFeN permanent magnets is seriously hindered by the fact that SmFeN is a thermodynamically sub-stable phase. Once a preparation process with suitable conditions can be developed, then there is a possibility to fully develop its endogenous magnetic properties, thus greatly accelerating its commercialization process.

 

 

Opportunity:

Subject to the rising environmental pressures and production costs in developed countries, the global rare earth market supply continues to shift to China.

SmFeN Magnet materials have a great potential as a substitute for neodymium bonded magnets, particularly neodymium compression-molded bonded magnets.

Although SmFeN is far from mass commercialization, it has developed extremely rapidly in just a few years and is likely to become another new generation of permanent magnets after Nd-Fe-B. Especially due to the rapid development of Nd-Fe-B magnets and the surge of demand in the market, neodymium resources are facing depletion, so the development of new permanent magnets that can replace Nd-Fe-B is imperative, and in order to meet the growing need for high temperature working environment, the practical development of SmFeN is on the agenda.

 

 

About The Authors

Lu Jing - Lead Author

Email: lujing@qyresearch.com

Lu Jing is a technology & market senior analyst specializing in chemical, advanced material, and component. Lu has 9 years’ experience in chemical and focuses on catalyst and additive, metal and plastic materials, waste recycling, daily chemicals. She is engaged in the development of technology and market reports and is also involved in custom projects.

 

About QYResearch

QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 17 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.

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