Permanent Magnets Sales

Permanent Magnets Sales Market Outlook

The global permanent magnets market is projected to reach approximately USD 22 billion by 2035, growing at a CAGR of around 6.5% during the forecast period from 2025 to 2035. The increasing demand for energy-efficient solutions and the rapid expansion of the electronics and automotive industries are key driving factors behind this growth. Additionally, the adoption of renewable energy sources, such as wind and solar power, has necessitated the use of permanent magnets in generators and motors, further propelling market expansion. The growing emphasis on weight reduction in automotive applications is also encouraging manufacturers to innovate and produce advanced permanent magnet materials that offer higher performance at lighter weights. As such, the market is experiencing a paradigm shift with the integration of advanced technology into the production processes of permanent magnets.

Growth Factor of the Market

One of the primary growth factors fueling the permanent magnets market is the surging demand for Neodymium Iron Boron (NdFeB) magnets, which are known for their exceptional strength and energy efficiency. These magnets find extensive applications in various industries, including automotive, consumer electronics, and renewable energy systems. The automotive sector, in particular, is witnessing a substantial shift toward electric vehicles (EVs) and hybrid vehicles, which utilize permanent magnets in their electric motors for improved performance and efficiency. Furthermore, the increased focus on energy conservation and sustainability has led manufacturers to invest in the development of permanent magnets that are not only high-performing but also environmentally friendly. Additionally, advancements in magnet production techniques, such as powder metallurgy and additive manufacturing, are enabling the production of complex magnet shapes and sizes, thus expanding their applicability across diverse sectors.

Key Highlights of the Market

• Significant growth in the automotive sector due to the rise in production of electric vehicles.
• Technological advancements leading to the development of high-performance magnets.
• Rising investments in renewable energy sectors, augmenting the demand for permanent magnets.
• Emergence of online distribution channels enhancing market accessibility.
• Geographic expansion in emerging markets driving overall market potential.

By Product Type

Neodymium Iron Boron Magnets:

Neodymium Iron Boron (NdFeB) magnets are the most widely used type of permanent magnets due to their exceptional magnetic strength and versatility. They are particularly favored in high-performance applications, such as electric motors, generators, and magnetic assemblies. The ongoing growth in the electric vehicle market, where NdFeB magnets play a crucial role in boosting motor efficiency, is significantly driving their demand. Additionally, the advancements in the production of these magnets, which have led to the reduction of costs, further enhances their attractiveness to manufacturers. Market players are focused on innovation to improve the thermal stability and corrosion resistance of NdFeB magnets, which is crucial for their longevity and performance in demanding environments.

Samarium Cobalt Magnets:

Samarium Cobalt (SmCo) magnets are known for their high thermal stability and resistance to oxidation, making them ideal for applications in harsh environments. These magnets are often utilized in aerospace, military, and high-temperature applications where performance is critical. Despite being more expensive than NdFeB magnets, their superior properties make them a preferred choice for specialized applications. The increasing demand for lightweight materials with high-performance capabilities in industries like aerospace and defense is contributing to the growing uptake of Samarium Cobalt magnets. Moreover, ongoing research aimed at enhancing the production processes and reducing costs is expected to open up new avenues for growth.

Alnico Magnets:

Alnico magnets, composed primarily of aluminum, nickel, and cobalt, are known for their high magnetic stability and ability to operate at elevated temperatures. They find applications in various sectors, including sensors, relays, and acoustic devices, due to their reliability and robustness. Although their magnetic strength is lower than that of NdFeB and SmCo magnets, their ability to withstand extreme temperatures makes them a favored choice for several high-temperature applications. The market for Alnico magnets is steady, as they continue to serve niche markets effectively. Innovations aimed at improving their magnetic properties and reducing production costs are likely to enhance their competitive edge in the overall permanent magnets market.

Ferrite Magnets:

Ferrite magnets are among the most widely used permanent magnets, primarily due to their low cost and good magnetic properties. They are made from a ceramic material that is composed of iron oxide mixed with barium or strontium carbonate. Ferrite magnets are extensively employed in applications ranging from magnetic speakers and microwave devices to electrical motors. The cost-effectiveness and availability of ferrite magnets make them particularly attractive for mass-manufactured products. Moreover, the ongoing development in manufacturing processes and the growing demand for consumer electronics are expected to bolster their market growth. As industries continue to prioritize cost-effective solutions, ferrite magnets will remain a staple in various applications.

Others:

The category "Others" encompasses a variety of less common but important permanent magnet types, including flexible magnets, rare-earth magnets, and bonded magnets. These magnets are typically utilized in specialized applications where conventional magnets may not be suitable. For instance, flexible magnets are often used in signage and marketing materials, while bonded magnets combine magnetic powders with polymer resins for enhanced versatility in design. The growth in the "Others" segment is driven by an increase in innovative applications across numerous industries, including automotive, healthcare, and consumer products. As manufacturers continue to explore new design possibilities and applications, this segment is expected to experience steady growth.

By Application

Automotive:

The automotive industry is one of the largest consumers of permanent magnets, primarily driven by the increasing production of electric and hybrid vehicles. Permanent magnets are crucial components in electric motors used in these vehicles, as they contribute to improved efficiency and performance. As governments worldwide implement stricter emissions regulations and promote the adoption of electric vehicles, the demand for permanent magnets in automotive applications is set to grow significantly. Additionally, the shift towards more lightweight materials in vehicle design is encouraging manufacturers to optimize the use of high-performance permanent magnets, thereby further enhancing their market presence in the automotive sector.

Electronics:

The electronics segment is another significant contributor to the permanent magnets market, with applications ranging from consumer electronics to communication devices. Permanent magnets are integral components in various electronic devices, including speakers, microphones, and magnetic sensors. The continuous advancement in technology, coupled with the increasing demand for high-quality audio and visual experiences, is driving the need for better-performing magnets in electronics. Manufacturers are focusing on producing smaller and more efficient permanent magnets that can fit into compact electronic designs, thus ensuring that the market for these magnets remains robust and dynamic.

Energy Generation:

The energy generation sector, particularly in renewable energy, is witnessing a burgeoning demand for permanent magnets. Wind turbines and solar power systems utilize permanent magnets in their generators to enhance efficiency and output. As the world shifts towards sustainable energy sources to combat climate change, the demand for high-performance permanent magnets in energy generation is expected to rise significantly. With innovations in wind turbine design and the increasing implementation of solar energy systems, the permanent magnets market is positioned for substantial growth in this segment, driven by the global push for cleaner energy solutions.

Industrial:

In the industrial sector, permanent magnets are widely used in various applications, including manufacturing, robotics, and material handling. They are essential components in electric motors, magnetic conveyors, and lifting equipment, which are crucial for improving operational efficiency and productivity. As industries continue to automate processes and adopt advanced manufacturing techniques, the demand for permanent magnets is projected to grow. Moreover, the emphasis on energy-saving technologies and increased investment in industrial automation are expected to further propel the market for permanent magnets within the industrial segment.

Medical:

The medical application of permanent magnets is steadily gaining traction, particularly in MRI machines and other diagnostic equipment that rely on strong magnetic fields. The growing emphasis on advanced medical imaging technologies and the rising prevalence of chronic diseases requiring accurate diagnostics are driving this demand. Additionally, developments in magnet technology that enhance the performance and reliability of medical devices are supporting the market's growth. With an ever-increasing focus on healthcare advancements, the role of permanent magnets in medical applications is anticipated to expand significantly in the coming years.

By Distribution Channel

Online Stores:

Online stores have become a vital distribution channel for permanent magnets, catering to a diverse range of customer needs. With the rise of e-commerce and digital platforms, consumers can easily access a vast array of products, often at competitive prices. This convenience has led to increased sales of permanent magnets through online channels, as customers can compare products, read reviews, and make informed purchasing decisions from the comfort of their homes. Furthermore, online retailers often provide comprehensive technical support and information about product specifications, thereby enhancing customer satisfaction and contributing to market growth.

Specialty Stores:

Specialty stores play a crucial role in the distribution of permanent magnets, particularly for specific applications or high-performance magnets. These stores cater to niche markets, offering a wide range of products that may not be readily available through larger retail channels. Customers seeking specialized magnets can benefit from the expert knowledge of specialty store staff, who can provide guidance on the best products for their specific needs. The personalized service and expertise offered by these stores contribute to customer loyalty and can lead to repeat business, supporting the overall growth of the permanent magnets market.

Direct Sales:

Direct sales channels are essential in the permanent magnets market, particularly for manufacturers looking to establish strong relationships with their customers. By selling directly to consumers or businesses, manufacturers can better understand their clients' needs and tailor their offerings accordingly. This approach allows for customized solutions and the ability to address customer inquiries and concerns effectively. Moreover, direct sales contribute to higher profit margins for manufacturers by eliminating intermediaries, creating a win-win situation for both parties. This channel is particularly advantageous for high-value or specialized permanent magnets that require a detailed understanding of customer requirements.

Distributors:

Distributors act as intermediaries between manufacturers and end-users, playing a vital role in the permanent magnets supply chain. They enable manufacturers to reach broader markets while providing customers with access to a diverse range of products. Distributors often stock a variety of permanent magnets from multiple manufacturers, which allows customers to find the specific products they need without searching through numerous sources. Additionally, distributors often provide logistical support, including inventory management and quick delivery services, which helps ensure a steady supply of products to the market. This distribution channel is crucial for maintaining product availability and supporting overall market growth.

Others:

The "Others" category in distribution channels encompasses non-traditional sales methods, such as bulk purchasing agreements and partnerships with industrial clients. These channels may include direct contracts with manufacturers for large-scale orders or collaborations with businesses that require ongoing supplies of permanent magnets. Such arrangements often lead to long-term partnerships that benefit both parties, ensuring product availability and consistent supply for businesses. This segment, while less prominent than the others, still plays a significant role in the overall distribution landscape of permanent magnets, particularly in industrial sectors that rely on high volumes of materials.

By Material Type

Metal:

Metal-based permanent magnets, including those made from alloys such as neodymium and samarium cobalt, are renowned for their strong magnetic properties and durability. These materials are critical in applications that require high performance, such as motors, generators, and electronic devices. The metal segment continues to grow, driven by advancements in materials science that enhance the magnetic properties of these alloys. As industries, particularly automotive and renewable energy, increasingly seek lightweight and efficient solutions, the demand for metal permanent magnets is expected to surge, thereby solidifying their position in the market.

Ceramic:

Ceramic magnets, primarily composed of ferrite, are recognized for their low cost and good magnetic properties, making them a popular choice in various applications. They are commonly used in consumer electronics, toys, and magnetic appliances. The ceramic segment remains robust due to the increasing demand for cost-effective solutions across industries. While they may not possess the same strength as metal-based magnets, their affordability and versatility make them a staple in many products. Ongoing innovations in production techniques aim to improve the quality and performance of ceramic magnets, ensuring their relevance in the market.

Composite:

Composite magnets, which include a combination of different materials, are gaining traction in the permanent magnets market due to their ability to optimize performance while minimizing costs. These magnets can be engineered to exhibit specific properties that meet particular application requirements, making them suitable for a range of uses. For example, they may combine the strengths of both metal and ceramic materials to achieve desired magnetic performance and durability. The growing trend toward customized solutions in various industries is expected to drive the demand for composite magnets, particularly in specialized applications that require tailored magnetic properties.

By Region

The North American permanent magnets market is expected to witness significant growth, driven by the increasing adoption of electric vehicles and advancements in technology. The region's strong automotive sector, coupled with a focus on renewable energy sources, is a primary factor for this growth. The North American market is projected to account for approximately 25% of the global market share by 2035. Additionally, the region is home to several key players in the industry, fostering innovation and competition, which further boosts market expansion. A CAGR of around 7% is anticipated for North America as demand for high-performance magnets continues to rise.

In Europe, the permanent magnets market is anticipated to experience steady growth, fueled by the increasing emphasis on sustainability and green energy initiatives. European countries are actively investing in renewable energy projects, such as wind and solar, where permanent magnets play a crucial role in the efficiency of generators. The market in Europe is expected to account for approximately 30% of the global market by 2035. The region's stringent regulatory framework for emissions and environmental protection is also propelling the demand for electric vehicles, thereby enhancing the market for permanent magnets. As technological advancements continue to evolve, Europe is poised for a CAGR of about 6% during the forecast period.

Opportunities

The permanent magnets market presents significant opportunities for growth, particularly in the context of advancing technologies and the rise of electric vehicles. As the automotive industry transitions toward electric and hybrid models, demand for permanent magnets, especially neodymium iron boron magnets, is set to soar. This transition not only highlights the need for high-performance magnets in electric motors but also opens avenues for manufacturers to innovate and develop new magnet formulations that can withstand the rigors of automotive applications. Additionally, the drive for sustainability and energy efficiency in manufacturing processes offers manufacturers the opportunity to differentiate themselves through the development of eco-friendly magnets. By leveraging sustainable practices, companies can enhance their market appeal and cater to environmentally conscious consumers and industries.

Furthermore, the expansion of renewable energy sources, including wind and solar power, presents a multitude of opportunities for the permanent magnets market. Permanent magnets are critical components in wind turbines and solar generators, where they contribute to energy conversion efficiency. As governments and organizations worldwide increase their investment in renewable energy infrastructure, the demand for permanent magnets in these applications is expected to rise significantly. This trend encourages collaboration between magnet manufacturers and renewable energy firms, fostering innovation and driving technological advancements. By seizing these opportunities, the permanent magnets market can continue to grow and evolve in response to global energy challenges.

Threats

The permanent magnets market faces several threats that could impact its growth trajectory. One major concern is the volatility of raw material prices, particularly for rare-earth metals such as neodymium and dysprosium, which are essential in the production of high-performance magnets. Fluctuations in supply and demand for these materials, often influenced by geopolitical factors and trade policies, can lead to increased production costs and supply chain disruptions. This situation may compel manufacturers to seek alternative materials or adjust pricing strategies, potentially hindering market growth. Additionally, the rising competition from alternative technologies, such as electromagnets, poses a threat to the sustained demand for permanent magnets, particularly in applications where electromagnetic solutions may offer competitive advantages.

Another threat to the market is the increasing focus on recycling and sustainability initiatives. As industries and consumers become more environmentally conscious, there is a growing demand for sustainable practices, including recycling rare-earth magnets. While this shift towards sustainability is positive, it may reduce the demand for newly manufactured permanent magnets as companies explore ways to reuse existing materials. Additionally, regulatory changes aimed at reducing the environmental impact of mining and manufacturing processes may pose challenges for existing producers. Companies must adapt to these changing dynamics and invest in sustainable practices to mitigate potential threats to their market position.

Competitor Outlook

• Hitachi Metals, Ltd.
• General Motors Company
• Daido Steel Co., Ltd.
• Magnomatics Ltd.
• Advanced Magnet Lab, Inc.
• Electron Energy Corporation
• GKN plc
• Arnold Magnetic Technologies
• VACUUMSCHMELZE GmbH & Co. KG
• Shanghai Hensheng Magnetech Co., Ltd.
• TDK Corporation
• Neo Performance Materials Inc.
• Magnequench International, Inc.
• YSM Magnetics Co., Ltd.
• Permanent Magnet Technologies, Inc.

The competitive landscape of the permanent magnets market is characterized by both established players and emerging companies, each vying for market share through innovation, strategic partnerships, and superior manufacturing capabilities. Leading manufacturers are focusing on enhancing their product offerings by investing in research and development to create high-performance magnets tailored to specific applications. Additionally, many companies are forming strategic alliances and collaborations with technology firms to leverage their expertise and enhance their competitive positioning. This collaborative approach enables manufacturers to gain access to new markets and technologies, thereby driving growth and expanding their footprint in the global market.

Several key players are dominating the market due to their extensive experience and established reputations. For instance, Hitachi Metals, Ltd., is known for its high-quality neodymium magnets and innovative solutions catering to various industries. Their commitment to R&D and sustainable practices has made them a leader in the permanent magnets sector. Similarly, General Motors Company has made significant investments in permanent magnets for electric vehicles, ensuring that their products meet the growing demand for efficient and powerful motors. By aligning their business strategies with emerging trends in electric mobility, these companies are well-positioned to capitalize on the growth of the permanent magnets market.

Furthermore, companies like TDK Corporation and Arnold Magnetic Technologies are focusing on expanding their product lines and enhancing the performance of their magnets through advancements in material technology and manufacturing processes. TDK Corporation is recognized for its extensive portfolio of ferrite magnets, while Arnold Magnetic Technologies specializes in high-performance magnets for specialized applications. Both companies are exploring opportunities in emerging markets to further strengthen their competitive positions. As innovation and market dynamics continue to evolve, the competitive landscape of the permanent magnets market is likely to remain highly active, with companies continuously adapting to meet changing consumer needs and industry demands.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 GKN plc
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 TDK Corporation
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Magnomatics Ltd.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Hitachi Metals, Ltd.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Daido Steel Co., Ltd.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 General Motors Company
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 YSM Magnetics Co., Ltd.
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Advanced Magnet Lab, Inc.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Electron Energy Corporation
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Arnold Magnetic Technologies
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 VACUUMSCHMELZE GmbH & Co. KG
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Neo Performance Materials Inc.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Magnequench International, Inc.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Permanent Magnet Technologies, Inc.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Shanghai Hensheng Magnetech Co., Ltd.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Permanent Magnets Sales Market, By Application
    • 6.1.1 Automotive
    • 6.1.2 Electronics
    • 6.1.3 Energy Generation
    • 6.1.4 Industrial
    • 6.1.5 Medical
  • 6.2 Permanent Magnets Sales Market, By Product Type
    • 6.2.1 Neodymium Iron Boron Magnets
    • 6.2.2 Samarium Cobalt Magnets
    • 6.2.3 Alnico Magnets
    • 6.2.4 Ferrite Magnets
    • 6.2.5 Others
  • 6.3 Permanent Magnets Sales Market, By Material Type
    • 6.3.1 Metal
    • 6.3.2 Ceramic
    • 6.3.3 Composite
  • 6.4 Permanent Magnets Sales Market, By Distribution Channel
    • 6.4.1 Online Stores
    • 6.4.2 Specialty Stores
    • 6.4.3 Direct Sales
    • 6.4.4 Distributors
    • 6.4.5 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 Permanent Magnets Sales Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Permanent Magnets Sales market is categorized based on

By Product Type

• Neodymium Iron Boron Magnets
• Samarium Cobalt Magnets
• Alnico Magnets
• Ferrite Magnets
• Others

By Application

• Automotive
• Electronics
• Energy Generation
• Industrial
• Medical

By Distribution Channel

• Online Stores
• Specialty Stores
• Direct Sales
• Distributors
• Others

By Material Type

• Metal
• Ceramic
• Composite

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Hitachi Metals, Ltd.
• General Motors Company
• Daido Steel Co., Ltd.
• Magnomatics Ltd.
• Advanced Magnet Lab, Inc.
• Electron Energy Corporation
• GKN plc
• Arnold Magnetic Technologies
• VACUUMSCHMELZE GmbH & Co. KG
• Shanghai Hensheng Magnetech Co., Ltd.
• TDK Corporation
• Neo Performance Materials Inc.
• Magnequench International, Inc.
• YSM Magnetics Co., Ltd.
• Permanent Magnet Technologies, Inc.