Samarium Iron Nitrogen Magnet Analysis Report ：the market size is projected to reach USD 0.06 billion by 2030

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.

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.

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