The samarium cobalt magnet market supports defense, aerospace, industrial, and medical applications. Business Market Insights reports steady growth due to these magnets’ heat and corrosion resistance.
Key Drivers
High Temperature Tolerance: Works from -273°C to +350°C.
Aerospace & Defense: Used in sensors, actuators, and systems.
Industrial Automation: Powers motors and sensors.
Medical Devices: Used in MRI, surgical tools, implants.
Energy: Important for wind turbines and generators.
Market Segmentation
Type: SmCo5, Sm2Co17
Application: Aerospace, defense, medical, industrial, electronics
Regional Highlights
Asia Pacific: Leads with China’s rare earth production.
North America & Europe: Key for aerospace and defense.
Challenges
High production costs
Ethical concerns in cobalt mining
Opportunities
Alloys with less cobalt
Recycling rare earths
Main Companies
Arnold Magnetic Technologies
Eclipse Magnetics
Hitachi Metals
Electron Energy
Ningbo Co-Star
