7. Development and future prospects

The future prospects for permanent magnets are very bright in a number of industrial sectors. The growth of the automotive market, coupled with the increase in the number of magnets per vehicle, continues to drive the market for permanent magnets (mainly ferrites) up by 5 to 10% a year. The market for loudspeakers (also mainly ferrites) continues to grow. These two sectors account for considerable tonnages of magnets, and their market, although not very innovative, should continue to grow over the next few years.

Other more innovative and fast-growing sectors, such as aeronautics, energy (wind power) and video, require magnets with multiple properties, of different types, but increasingly from the rare earth family. Worldwide production of Nd-Fe-B magnets tripled between 1992 and 2002, and is now growing by over 15% a year. Although they face stiff competition from...