Rare Earth Permanent Magnetic Material Sales

Rare Earth Permanent Magnetic Material Sales Market Outlook

The global Rare Earth Permanent Magnetic Material Market is anticipated to reach a staggering value of approximately USD 30 billion by 2035, exhibiting a compound annual growth rate (CAGR) of around 10% during the forecast period from 2025 to 2035. A significant growth factor driving this market is the increasing demand for high-performance magnetic materials across various sectors, particularly in the automotive and electronics industries. The technological advancements that enable the production of more compact and energy-efficient devices are further augmenting the need for rare earth permanent magnets. Additionally, the shift towards renewable energy sources and electric vehicles is creating a burgeoning demand for efficient magnetic materials, as they play a crucial role in motors, generators, and energy storage systems. Furthermore, the rising awareness regarding energy conservation and environmental sustainability is also propelling the market forward, driving innovation and investment in rare earth materials.

Growth Factor of the Market

The growth of the Rare Earth Permanent Magnetic Material Market can be attributed to several factors, with one of the primary drivers being the rapid expansion of the electric vehicle (EV) industry. As automakers increasingly adopt electric and hybrid technologies, the demand for high-performance rare earth magnets is soaring, as they are essential for the efficiency and performance of electric motors. In addition to this, the aerospace sector is witnessing significant advancements, where lightweight and compact magnetic materials are crucial for enhancing fuel efficiency and reducing emissions. Moreover, the rising trend of miniaturization in consumer electronics further intensifies the demand for rare earth magnets, as these materials allow for smaller, lighter, and more efficient devices. Additionally, geopolitical factors and the supply chain dynamics surrounding rare earth materials are prompting countries to bolster domestic production capabilities, thereby fostering a more resilient market landscape. The ongoing research and development efforts aimed at finding sustainable alternatives and recycling methods for rare earth materials are also expected to fuel growth in the long run.

Key Highlights of the Market

• Projected market size of USD 30 billion by 2035 with a CAGR of 10%.
• Surging demand driven by the electric vehicle and aerospace sectors.
• Increased focus on energy efficiency and sustainability.
• Technological advancements leading to new applications in various industries.
• Geopolitical factors influencing the supply chain and production strategies.

By Product Type

Neodymium Iron Boron Magnets:

Neodymium Iron Boron (NdFeB) magnets are the most widely used type of rare earth permanent magnets, known for their exceptional magnetic strength and efficiency. These magnets exhibit high coercivity and energy density, making them ideal for applications requiring compact and powerful magnets. Their utilization spans across various industries, particularly in electric motors, hard disk drives, and magnetic resonance imaging (MRI) machines. The increasing adoption of NdFeB magnets in electric vehicles is significantly driving their demand, as these magnets are essential for the performance and efficiency of EV motors. Moreover, continuous advancements in manufacturing techniques and the development of new grades of NdFeB magnets are further enhancing their properties, allowing for greater customization and application versatility. As a result, the market for NdFeB magnets is projected to witness substantial growth in the coming years, fueled by the rising need for high-performance magnetic materials.

Samarium Cobalt Magnets:

Samarium Cobalt (SmCo) magnets are another prominent type of rare earth permanent magnets known for their excellent thermal stability and corrosion resistance. These magnets have a higher temperature tolerance compared to NdFeB magnets, making them suitable for applications in harsh environments, such as aerospace and military sectors. SmCo magnets are commonly used in high-temperature applications like sensors, actuators, and aerospace components, where reliability and performance are paramount. The growing demand for lightweight and compact components in the aerospace sector is a significant driver for the SmCo magnet market. Additionally, their use in high-performance motors and generators is increasing, particularly in renewable energy applications, further propelling market growth. The ability to operate effectively at elevated temperatures positions SmCo magnets as a preferred choice for specialized applications, contributing to their steady market expansion.

Ferrite Magnets:

Ferrite magnets, also known as ceramic magnets, are made from a combination of iron oxide and other metallic elements. These magnets are cost-effective and offer decent magnetic strength, making them popular in a wide range of applications, including consumer electronics, automotive, and industrial machinery. The affordability of ferrite magnets compared to their rare earth counterparts makes them an attractive option for manufacturers looking to balance cost and performance. They are commonly used in loudspeakers, magnetic separators, and various household appliances. While the growth rate of ferrite magnets is relatively slower compared to rare earth magnets, they still hold a significant portion of the market due to their widespread usage in low-cost applications. The continuous innovation in the manufacturing processes and the development of improved ferrite magnet grades are also expected to sustain their relevance in the market.

Aluminum Nickel Cobalt Magnets:

Aluminum Nickel Cobalt (AlNiCo) magnets are known for their excellent temperature stability and low coercivity. While not classified strictly as rare earth magnets, they are still significant within the magnet market. AlNiCo magnets are often used in applications requiring strong magnetic fields, such as electric guitar pickups, sensors, and various industrial machinery. Their ability to maintain magnetic properties at high temperatures makes them suitable for applications in challenging environments. The demand for AlNiCo magnets is driven by their unique properties and the niche applications they serve, particularly in the automotive and electronics industries. Although their overall market share is smaller compared to rare earth magnets, AlNiCo magnets continue to play a vital role in specific applications that require reliability and performance at elevated temperatures.

Others:

This category includes various other types of permanent magnets that do not fall under the major classifications of rare earth magnets. These may include specialized alloys and hybrid magnets that combine different materials to achieve specific magnetic properties. The demand for these "other" magnets is generally driven by niche applications in industries such as medical devices, instrumentation, and specialized machinery. As technology advances and the need for customized magnetic solutions increases, the market for these alternative types of magnets is expected to grow. Companies are investing in research and development to create innovative magnetic materials that can fulfill specific requirements in high-tech applications. The versatility and adaptability of these magnets may lead to new opportunities for growth in various sectors, further enriching the overall rare earth permanent magnetic material market.

By Application

Automotive:

The automotive industry is one of the leading sectors driving the demand for rare earth permanent magnetic materials, primarily due to the rising adoption of electric and hybrid vehicles. These vehicles require high-performance motors that utilize rare earth magnets, especially Neodymium Iron Boron magnets, to enhance efficiency and reduce weight. Additionally, the automotive sector is increasingly focused on improving fuel efficiency and reducing emissions, leading to greater integration of magnetic materials in various components such as motors, sensors, and actuators. The growing trend of automation and advanced driver-assistance systems (ADAS) in vehicles is also contributing to the increased use of rare earth magnets. As the automotive industry evolves towards electrification and smart technology, the demand for rare earth permanent magnetic materials is expected to surge, further solidifying their importance in this sector.

Electronics:

The electronics industry is another major beneficiary of rare earth permanent magnetic materials, with applications ranging from consumer electronics to telecommunications equipment. These materials are crucial in manufacturing components such as hard disk drives, speakers, and various sensors. The increasing demand for compact and energy-efficient electronic devices is propelling the use of high-performance rare earth magnets. As consumer preferences shift towards smaller and more powerful electronics, manufacturers are turning to rare earth materials to meet these demands. Additionally, the growth of the Internet of Things (IoT) and advancements in wireless technology are creating new opportunities for rare earth magnets in electronic applications. The continual innovation in this sector is expected to drive sustained growth in the demand for rare earth permanent magnetic materials.

Aerospace & Defense:

The aerospace and defense sectors are characterized by stringent performance requirements and the need for reliable components, making them significant consumers of rare earth permanent magnetic materials. These materials are essential in applications such as satellite systems, avionics, and advanced missile systems, where high-performance and lightweight components are critical. The increasing focus on national security and defense spending is driving investments in advanced aerospace technologies, which in turn boosts the demand for rare earth magnets. Moreover, the trend towards sustainable aviation solutions, including electric and hybrid aircraft, is further elevating the importance of rare earth materials in this industry. As aerospace technologies advance, the reliance on rare earth permanent magnets is expected to grow, providing ample opportunities for market expansion.

Energy Generation:

The energy generation sector is witnessing a significant transformation, with a growing emphasis on renewable energy sources such as wind and solar power. Rare earth permanent magnetic materials play a vital role in the efficiency of generators used in wind turbines, where high-performance magnets are essential for converting wind energy into electricity. The adoption of rare earth magnets in energy generation applications is driven by the need for high efficiency, durability, and compactness in modern energy systems. Additionally, the expansion of electric grids and the push for energy storage solutions are creating new opportunities for rare earth materials, enhancing their relevance in the energy sector. As the world transitions towards sustainable energy solutions, the demand for rare earth permanent magnetic materials in energy generation applications is set to rise significantly.

Others:

The "Others" category encompasses various applications of rare earth permanent magnetic materials in industries such as medical devices, instrumentation, and industrial machinery. These applications often require specialized magnetic properties and high performance, leading to the integration of rare earth magnets in innovative solutions. For example, in the medical field, rare earth magnets are utilized in magnetic resonance imaging (MRI) machines and other diagnostic tools where precision and reliability are crucial. The versatility of rare earth magnets allows them to be employed in a wide range of applications, further expanding their market presence. As industries continue to innovate and develop new technologies, the demand for rare earth permanent magnetic materials in these specialized applications is expected to grow, thereby enhancing the overall market landscape.

By Distribution Channel

Direct Sales:

Direct sales channels play a crucial role in the Rare Earth Permanent Magnetic Material Market, enabling manufacturers to establish a direct relationship with their customers. This approach facilitates better communication regarding product specifications, customization options, and pricing strategies. Furthermore, direct sales allow manufacturers to gain valuable insights into market trends and customer preferences, enabling them to adapt their offerings accordingly. Companies often engage in direct sales for high-value contracts, particularly in industries like aerospace and defense, where the specifications and requirements can be unique and complex. The growing trend of forming strategic partnerships between manufacturers and end-users is also enhancing the effectiveness of direct sales channels. Overall, the direct sales approach is expected to remain a vital distribution strategy in the rare earth permanent magnetic materials market.

Indirect Sales:

Indirect sales channels are equally important in the distribution of rare earth permanent magnetic materials, encompassing a wide array of intermediaries such as distributors, wholesalers, and retailers. These channels help manufacturers reach a broader customer base, especially in regions where direct sales might not be feasible. The use of indirect sales channels allows for greater flexibility in pricing and inventory management, as distributors can stock a variety of products to cater to different customer needs. Additionally, indirect sales channels often provide valuable market intelligence to manufacturers, helping them understand regional demands and competition. As the market continues to grow, companies are likely to strengthen their indirect sales networks to enhance their reach and accessibility in various global markets.

By Region

The regional analysis of the Rare Earth Permanent Magnetic Material Market reveals significant growth potential across various regions. In North America, the market is expected to witness substantial growth, projected to reach approximately USD 10 billion by 2035, with a CAGR of around 9% during the forecast period. The presence of key automotive and aerospace manufacturers in the region, coupled with a growing emphasis on electric vehicles, is driving the demand for rare earth permanent magnets. Additionally, the increasing investments in research and development activities aimed at enhancing magnet performance are further contributing to regional growth. The U.S. and Canada are expected to remain at the forefront of this growth, supported by favorable government policies and incentives for clean energy technologies.

In Asia Pacific, the Rare Earth Permanent Magnetic Material Market is expected to dominate globally, with an estimated market size of around USD 12 billion by 2035. The region's rapid industrialization and urbanization, along with the burgeoning electronic and automotive sectors, are key factors driving market growth. China, being a major producer of rare earth materials, plays a vital role in the global supply chain, thereby influencing pricing and availability. The rising demand for electric vehicles and renewable energy solutions in countries like Japan, South Korea, and India is further augmenting the market. As industries in Asia Pacific continue to evolve and adopt advanced technologies, the demand for rare earth permanent magnetic materials is set to expand significantly, solidifying the region's position as a market leader.

Opportunities

The Rare Earth Permanent Magnetic Material Market is poised for significant opportunities, particularly due to the ongoing advancements in technology and the increasing focus on sustainability. As industries worldwide increasingly transition towards renewable energy solutions, there is a growing demand for high-performance magnetic materials in applications such as wind and solar energy generation. This shift presents opportunities for manufacturers to innovate and develop new grades of rare earth magnets that can enhance the efficiency and performance of renewable energy systems. Additionally, the global push for electric vehicles is creating immense opportunities for rare earth permanent magnets, as automakers seek to improve the performance and energy efficiency of their electric drivetrains. The growing interest in recycling rare earth materials also presents a unique opportunity, as companies explore methods to recover and reprocess these valuable materials, thereby reducing environmental impact and ensuring a sustainable supply chain for rare earth magnets.

Moreover, the increasing investment in research and development initiatives aimed at discovering alternative materials and manufacturing processes is expected to create new opportunities within the market. Innovations in magnetic materials, such as the development of lightweight composites or hybrid magnets, can open new avenues for application in various sectors. Furthermore, as the world becomes more interconnected, global collaboration in technology transfer and knowledge sharing will likely enhance the growth of the rare earth permanent magnetic material market. Companies willing to adapt to changing market dynamics and invest in sustainable practices are well-positioned to capitalize on these opportunities, enabling them to thrive in this competitive landscape.

Threats

Despite the promising growth prospects of the Rare Earth Permanent Magnetic Material Market, several threats could hinder its progress. One of the primary concerns is the geopolitical landscape surrounding rare earth materials, particularly the concentration of production in a few countries. For instance, China is a dominant player in the rare earth sector, and any geopolitical tensions or trade disputes could disrupt the supply chain and lead to price volatility. This reliance on a limited number of suppliers poses a significant risk to manufacturers, as they may face challenges in securing a consistent supply of raw materials. Additionally, regulatory changes and environmental concerns associated with mining and processing rare earth materials could impose stricter regulations, affecting production costs and operational efficiencies. As countries tighten their environmental standards, manufacturers may need to invest in cleaner technologies, which could further challenge profitability.

Furthermore, the market faces the threat of substitution as advancements in material science may lead to the development of alternative materials that can replace rare earth magnets. Researchers are exploring various options, and if successful substitutes are introduced, it could significantly impact the demand for rare earth permanent magnetic materials. Furthermore, the fluctuating prices of raw materials could pose a risk to manufacturers, as they may struggle to maintain competitive pricing while ensuring quality. The potential for economic downturns and fluctuations in industrial demand can also create uncertainty in the market. To navigate these threats, manufacturers will need to develop comprehensive risk management strategies and stay abreast of market trends to ensure resilience in an evolving landscape.

Competitor Outlook

• Hitachi Metals, Ltd.
• Neomax Co., Ltd.
• Shin-Etsu Chemical Co., Ltd.
• China Northern Rare Earth Group High-Tech Co., Ltd.
• Advanced Magnet Lab, Inc.
• Magnet Applications, Inc.
• Thornton Precision Components
• Magnet Manufacturers Inc.
• Arnold Magnetic Technologies
• Yantai Zhongheng Magnetic Materials Co., Ltd.
• GKN PLC
• Maxwell Technologies, Inc.
• Adams Magnetic Products Co.
• Electro-Magnetic Products, Inc.
• CMG Technologies, Inc.

The competitive landscape of the Rare Earth Permanent Magnetic Material Market is characterized by a mix of established players and emerging companies, all striving to enhance their market positions through innovation and strategic partnerships. Major companies like Hitachi Metals, Ltd. and Neomax Co., Ltd. dominate the market with their extensive product portfolios and technological advancements. Hitachi Metals, for instance, has a strong foothold in the NdFeB magnet segment and is known for its high-quality manufacturing processes, ensuring superior performance in various applications. Neomax Co., Ltd. has also established itself as a key player by focusing on producing high-performance magnetic materials tailored for the automotive and renewable energy sectors. Both companies continue to invest in R&D to develop new grades of rare earth magnets that can meet the evolving demands of industries worldwide.

China Northern Rare Earth Group High-Tech Co., Ltd. is another significant player, operating as one of the largest producers of rare earth materials globally. Its strategic initiatives to enhance production capabilities and improve supply chain efficiencies position it strongly in the market. The company is also actively involved in the development of sustainable practices, addressing environmental concerns associated with rare earth mining. Additionally, companies like Arnold Magnetic Technologies and Magnet Applications, Inc. are increasingly focusing on value-added services and customized solutions to differentiate themselves in the competitive landscape. They are leveraging their expertise in advanced magnet design and manufacturing to cater to specific industry needs, thereby strengthening their market presence.

Emerging players in the market are also making their mark by introducing innovative solutions and unique products. Companies like Advanced Magnet Lab, Inc. and Yantai Zhongheng Magnetic Materials Co., Ltd. are gaining traction by focusing on niche applications and specialized products within the rare earth magnets domain. By targeting specific sectors such as medical devices and industrial machinery, they are carving out a competitive edge. Furthermore, as the demand for sustainable practices increases, companies that prioritize recycling and the development of eco-friendly production methods are likely to gain a competitive advantage. The overall competitive landscape of the Rare Earth Permanent Magnetic Material Market is evolving, with innovation and sustainability emerging as key differentiators that will shape the future of the industry.

• 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 Neomax Co., Ltd.
    • 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 Hitachi Metals, 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 CMG Technologies, Inc.
    • 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 Advanced Magnet Lab, Inc.
    • 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 Magnet Applications, Inc.
    • 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 Magnet Manufacturers Inc.
    • 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 Maxwell Technologies, 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 Adams Magnetic Products Co.
    • 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 Shin-Etsu Chemical Co., Ltd.
    • 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 Thornton Precision Components
    • 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 Electro-Magnetic Products, 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 Yantai Zhongheng Magnetic Materials Co., Ltd.
    • 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 China Northern Rare Earth Group High-Tech 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 Rare Earth Permanent Magnetic Material Sales Market, By Application
    • 6.1.1 Automotive
    • 6.1.2 Electronics
    • 6.1.3 Aerospace & Defense
    • 6.1.4 Energy Generation
    • 6.1.5 Others
  • 6.2 Rare Earth Permanent Magnetic Material Sales Market, By Product Type
    • 6.2.1 Neodymium Iron Boron Magnets
    • 6.2.2 Samarium Cobalt Magnets
    • 6.2.3 Ferrite Magnets
    • 6.2.4 Aluminum Nickel Cobalt Magnets
    • 6.2.5 Others
  • 6.3 Rare Earth Permanent Magnetic Material Sales Market, By Distribution Channel
    • 6.3.1 Direct Sales
    • 6.3.2 Indirect Sales

• 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 Rare Earth Permanent Magnetic Material 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 Rare Earth Permanent Magnetic Material Sales market is categorized based on

By Product Type

• Neodymium Iron Boron Magnets
• Samarium Cobalt Magnets
• Ferrite Magnets
• Aluminum Nickel Cobalt Magnets
• Others

By Application

• Automotive
• Electronics
• Aerospace & Defense
• Energy Generation
• Others

By Distribution Channel

• Direct Sales
• Indirect Sales

By Region

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

Key Players

• Hitachi Metals, Ltd.
• Neomax Co., Ltd.
• Shin-Etsu Chemical Co., Ltd.
• China Northern Rare Earth Group High-Tech Co., Ltd.
• Advanced Magnet Lab, Inc.
• Magnet Applications, Inc.
• Thornton Precision Components
• Magnet Manufacturers Inc.
• Arnold Magnetic Technologies
• Yantai Zhongheng Magnetic Materials Co., Ltd.
• GKN PLC
• Maxwell Technologies, Inc.
• Adams Magnetic Products Co.
• Electro-Magnetic Products, Inc.
• CMG Technologies, Inc.