In terms of industry structure, there are over 50 U.S. producers of cast, sintered and bonded permanent magnets and there is intense competition between them. In fact, China has become a big player in the international markets. In terms of international competition, Japan used to be the leader. However, China has surpassed Japan in terms of the quantity of magnets supplied to the global markets. The Chinese magnets are cheaper, low quality magnets.
Japan still has the hold on high quality magnets.
The U.S. is a net importer of permanent magnets, representing as much as one fifth of its consumption. The U.S. permanent magnet industry is mature and growing at a steady pace. The current markets have almost reached three quarters of a billion dollars. Within the industry, there is additional intermaterial competition because of the availability of new magnetic materials with improved properties. The permanent magnet industry has sustained growth in the last decade and is likely to continue to the next decade because of increased usage of magnetic circuit components in a variety of industrial equipment and devices.