June 28, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--The market for permanent magnets has seen growth in the last few years owing to rising demand in key sectors like electronics, automobiles and renewable energy. Produced by alloying magnetic metals like iron, nickel, cobalt, rare earth metals, etc., permanent magnets are materials that retain their magnetism without external influence. They are energy-efficient, durable, portable, available in small sizes and have a higher power-to-weight ratio. Some of the most popular ones include neodymium iron boron, alnico, ferrite and samarium cobalt magnets. Industrial Info is tracking 35 active capital projects worth more than US$4 billion geared at manufacturing of permanent magnets.