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Global NdFeB Magnets Market to Reach $2.5 Billion by 2027
In the changed post COVID-19 business landscape, the global market for NdFeB Magnets estimated at US$1.5 Billion in the year 2020, is projected to reach a revised size of US$2.5 Billion by 2027, growing at a CAGR of 7.8% over the analysis period 2020-2027. Consumer Electronics, one of the segments analyzed in the report, is projected to record a 9.5% CAGR and reach US$972.9 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Automotive segment is readjusted to a revised 7.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $398.2 Million, While China is Forecast to Grow at 12.1% CAGR
The NdFeB Magnets market in the U.S. is estimated at US$398.2 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$572.5 Million by the year 2027 trailing a CAGR of 12.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$342.7 Million by the year 2027.


Oil & Gas Segment to Record 6.3% CAGR
In the global Oil & Gas segment, USA, Canada, Japan, China and Europe will drive the 6.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$185.7 Million in the year 2020 will reach a projected size of US$274.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 7.5% CAGR through the analysis period.