GCC Magnet Market by Magnet Type (Ferrite, Neodymium Iron Boron (NdFeB), Aluminium Nickel Cobalt (AlNiCo) and Samarium Cobalt (SmCo)) and Application (Computer Hard Disk Drives (HDD), CD, DVD, Hybrid Electric Vehicles, Heating, Ventilating & Air Conditioners (HVAC), Wind Turbines and Other Applications): Industry Analysis, Trends, Growth and Forecast 2023-2028

GCC Magnet Market Overview:

The GCC Magnet market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. The market is projected to register a CAGR of X% during 2023-2028, reaching US$ XX Billion by 2028. A magnet is an object that produces an invisible magnetic field that pulls on ferromagnetic materials, such as nickel, cobalt, iron, and steel, and attracts or repels other magnets. It is made using the powder metallurgy method, where a suitable composition of aluminum, nickel, and cobalt (Alnico) is pulverized into a fine powder, compacted, and heated to cause densification.  Magnets are cost-effective and environmentally friendly, have a long shelf-life, and are available in permanent, temporary, and electromagnet variants. Moreover, magnets are used extensively in the production of umpteen devices as they easily convert energy from one form to another. As a result, they are witnessing huge demand across various sectors, such as electronics, construction, hardware, automotive, mining, and healthcare, for transportation, microwave communications, magnetic sensors, power generation, and energy conversion.

In the GCC, the rapidly expanding consumer electronics sector represents one of the key factors accelerating the market growth. Moreover, the surging product application in the automotive sector to produce auto-clutch, electric braking, and throttle and gearbox actuation is bolstering the market growth. This is further supported by the rising employment of magnets in the manufacturing of magnetic resonance imaging (MRI) machines, ventricular assist devices (VAD), and hearing aids and the increasing requirement for product miniaturization. Additionally, regional governments are heavily investing in energy-saving technologies and devices to reduce carbon footprints, which, in turn, is providing a considerable thrust to the market. Furthermore, the well-developed construction sector in the GCC has surged the demand for distinctive types of magnetic plates, separators, conveyors, pulleys, and grates, which is acting as another factor boosting the market growth. Apart from this, the escalating need for hybrid electric vehicles (HEVs) on account of rising environmental consciousness, the increasing consumer expenditure power, and the inflating demand for devices with lower carbon footprints are positively contributing to the market growth.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC magnet market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC magnet market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC magnet market in detail for latest trends, outlook and opportunities.

The report analyses the competitive structure of the GCC magnet market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC magnet market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC magnet market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC magnet market industry. Furthermore, the value chain analysis of the GCC magnet market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

GCC Magnet Market Segment Insights:

The GCC magnet market has been analysed as followed:

Segmentation by Magnet Type:

  • Ferrite
  • Neodymium Iron Boron (NdFeB)
  • Aluminium Nickel Cobalt (AlNiCo)
  • Samarium Cobalt (SmCo)

Segmentation by Application:

  • Computer Hard Disk Drives (HDD), CD, DVD
  • Hybrid Electric Vehicles
  • Electric Bicycles 
  • Heating, Ventilating and Air Conditioners (HVAC)
  • Wind Turbines
  • Other Applications 

Segmentation by Country:

  • Saudi Arabia
  • United Arab Emirates
  • Qatar
  • Kuwait
  • Oman
  • Bahrain

Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.

Competative Landscape: 

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Highlights of the GCC Magnet Market Report:

  • Historical and current scenario
  • Trends and developments
  • Impact of COVID-19
  • Market forecast
  • Price analysis and forecast
  • Porter’s five forces analysis
  • SWOT analysis
  • Value chain analysis

Report Customisation:

The GCC magnet market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs.

1 Introduction
    1.1    Research Objectives 
    1.2    Stakeholders
    1.3    Scope of the Report
    1.4    Assumptions and Limitations
2 Research Methodology 
    2.1    Data Collection
            2.1.1    Primary Sources
            2.1.2    Secondary Sources
    2.2    Market Size Estimation
            2.2.1    Bottom-Up Approach
            2.2.2    Top-Down Approach
    2.3    Data Validation
3 Executive Summary
4 Global Permanent Magnet Market

    4.1    Historical Market Trend
    4.2    Market Segmentation by Region
    4.3    Impact of COVID-19
    4.4    Market Outlook
5 GCC Permanent Magnet Market
    5.1    Industry Overview 
    5.2    Key Industry Developments
    5.3    Market Trends
            5.3.1    Key Market Indicators
            5.3.2    Historical Market Trends
            5.3.3    Market Outlook
6 GCC Permanent Magnet Market Segmentation by Country
    6.1    Saudi Arabia  
            6.1.1    Historical Market Trends
            6.1.2    Market Outlook
    6.2    United Arab Emirates   
            6.2.1    Historical Market Trends
            6.2.2    Market Outlook
    6.3    Qatar 
            6.3.1    Historical Market Trends
            6.3.2    Market Outlook
    6.4    Kuwait 
            6.4.1    Historical Market Trends
            6.4.2    Market Outlook
    6.5    Oman  
            6.5.1    Historical Market Trends
            6.5.2    Market Outlook
    6.6    Bahrain  
            6.6.1    Historical Market Trends
            6.6.2    Market Outlook
7 GCC Permanent Magnet Market Segmentation by Magnet Type
    7.1    Ferrite
        7.1.1    Historical Market Trends
        7.1.2    Market Outlook
    7.2    Neodymium Iron Boron (NdFeB)
        7.2.1    Historical Market Trends
        7.2.2    Market Outlook
    7.3    Aluminium Nickel Cobalt (AlNiCo)
        7.3.1    Historical Market Trends
        7.3.2    Market Outlook
    7.4    Samarium Cobalt (SmCo)
        7.4.1    Historical Market Trends
        7.4.2    Market Outlook
8 GCC Permanent Magnet Market Segmentation by Application
    8.1    Computer Hard Disk Drives (HDD), CD, DVD
            8.1.1    Historical Market Trends
            8.1.2    Market Outlook
    8.2   Hybrid Electric Vehicles    
            8.2.1    Historical Market Trends
            8.2.2    Market Outlook
    8.3   Electric Bicycles   
            8.3.1    Historical Market Trends
            8.3.2    Market Outlook
    8.4    Heating, Ventilating and Air Conditioners (HVAC)
            8.4.1    Historical Market Trends
            8.4.2    Market Outlook
    8.5   Wind Turbines    
            8.5.1    Historical Market Trends
            8.5.2    Market Outlook
    8.6   Other Applications   
            8.6.1    Historical Market Trends
            8.6.2    Market Outlook
9 GCC Permanent Magnet Industry: Market Dynamics
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses 
    9.4    Opportunities
    9.5    Threats
10 GCC Permanent Magnet Industry: Value Chain Analysis
    10.1   Overview
    10.2   Research and Development
    10.3   Raw Material Suppliers
    10.4   Inbound Logistics
    10.5   Production
    10.6   Marketing 
    10.7   Outbound Logistics
    10.8   Consumers 
11 GCC Permanent Magnet Industry: Porter’s Five Forces Analysis
    11.1   Overview
    11.2   Threat of New Entrants
    11.3   Threat of Substitutes
    11.4   Bargaining Power of Buyers
    11.5    Bargaining Power of Suppliers
    11.6    Intensity of Rivalry
12 Competitive Landscape
    12.1   Market Structure
    12.2   Key Players 
    12.3   Key Success Factors 
13 Key Player Profiles
 
List of Figures

Figure 1: Global: Permanent Magnet Market: Sales Value (in Billion US$), 2017-2022
Figure 2: Global: Permanent Magnet Market: Segmentation by Region (in %), 2022
Figure 3: Global: Permanent Magnet Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 4: GCC: Permanent Magnet Market: Sales Value (in Billion US$), 2017-2022
Figure 5: GCC: Permanent Magnet Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 6: GCC: Permanent Magnet Market: Segmentation by Country (in %), 2022
Figure 7: GCC: Permanent Magnet Market: Segmentation by Magnet Type (in %), 2022
Figure 8: GCC: Permanent Magnet Market: Segmentation by Application (in %), 2022
Figure 9: Saudi Arabia: Permanent Magnet Market: Sales Value (in Billion US$), 2017 & 2022
Figure 10: Saudi Arabia: Permanent Magnet Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 11: United Arab Emirates: Permanent Magnet Market: Sales Value (in Billion US$), 2017 & 2022
Figure 12: United Arab Emirates: Permanent Magnet Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 13: Qatar: Permanent Magnet Market: Sales Value (in Billion US$), 2017 & 2022
Figure 14: Qatar: Permanent Magnet Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 15: Kuwait: Permanent Magnet Market: Sales Value (in Billion US$), 2017 & 2022
Figure 16: Kuwait: Permanent Magnet Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 17: Oman: Permanent Magnet Market: Sales Value (in Billion US$), 2017 & 2022
Figure 18: Oman: Permanent Magnet Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 19: Bahrain: Permanent Magnet Market: Sales Value (in Billion US$), 2017 & 2022
Figure 20: Bahrain: Permanent Magnet Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 21: GCC: Permanent Magnet (Ferrite) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 22: GCC: Permanent Magnet (Ferrite) Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 23: GCC: Permanent Magnet (Neodymium Iron Boron (NdFeB)) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 24: GCC: Permanent Magnet (Neodymium Iron Boron (NdFeB)) Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 25: GCC: Permanent Magnet (Aluminium Nickel Cobalt (AlNiCo) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 26: GCC: Permanent Magnet (Aluminium Nickel Cobalt (AlNiCo) Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 27: GCC: Permanent Magnet (Samarium Cobalt (SmCo)) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 28: GCC: Permanent Magnet (Samarium Cobalt (SmCo)) Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 29: GCC: Permanent Magnet (Computer Hard Disk Drives (HDD), CD, DVD) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 30: GCC: Permanent Magnet (Commercial) Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 31: GCC: Permanent Magnet (Computer Hard Disk Drives (HDD), CD, DVD) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 32: GCC: Permanent Magnet (Hybrid Electric Vehicles) Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 33: GCC: Permanent Magnet (Hybrid Electric Vehicles) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 32: GCC: Permanent Magnet (Electric Bicycles) Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 34: GCC: Permanent Magnet (Electric Bicycles) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 35: GCC: Permanent Magnet (Heating, Ventilating and Air Conditioners (HVAC)) Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 36: GCC: Permanent Magnet (Infrastructure) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 37: GCC: Permanent Magnet (Heating, Ventilating and Air Conditioners (HVAC)) Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 38: GCC: Permanent Magnet (Wind Turbines) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 39: GCC: Permanent Magnet (Wind Turbines) Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 40: GCC: Permanent Magnet (Other Applications) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 41: GCC: Permanent Magnet (Other Applications) Market Outlook: Sales Value (in Billion US$), 2023-2028
Figure 42: GCC: Permanent Magnet Industry: Market Dynamics
Figure 43: GCC: Permanent Magnet Industry: Value Chain Analysis
Figure 44: GCC: Permanent Magnet Market: Porter’s Five Forces Analysis

List of Tables

Table 1: GCC: Permanent Magnet Market: Key Industry Highlights, 2022 and 2028
Table 2: GCC: Permanent Magnet Market Outlook: Segmentation by Country (in Million US$), 2023-2028
Table 3: GCC: Permanent Magnet Market Outlook: Segmentation by Magnet Type (in Million US$), 2023-2028
Table 4: GCC: Permanent Magnet Market Outlook: Segmentation by Application (in Million US$), 2023-2028
Table 5: GCC: Permanent Magnet Market Structure
Table 6: GCC: Permanent Magnet Market: Key Players

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