Magnets have evolved a lot in recent years, and they will continue to do so. But 90% of them are already manufactured in China

Magnets have been known for hundreds of years, and almost all of us have one stuck on our refrigerator to hold a note or reminder. And since it is something that is part of our lives, we never think about them.

But magnets have evolved greatly in recent years with the use of new materials (such as rare earths) for their manufacture, and their characteristics have improved enormously to be able to be used in many high-tech products.

In electric cars, for example, the magnets in the motor greatly influence the energy it provides and its current consumption, which influences the weight of the car and the distance it can travel. The better the magnet, the better the motor, and with the same battery the car will go further.

Therefore, in today’s world of technology, magnets have gone from simple curiosities to essential components that power a wide range of devices. From the tiny magnets in our smartphones to the powerful electric motors in cars, these magnetic materials play a critical role in innovation and progress.

In recent years, magnets have undergone an unprecedented evolution, both in terms of power and functionality. The emergence of new materials, such as rare earth alloys and composite magnets, has opened up endless possibilities for their application in various sectors.

A notable example of this advancement is the development of high-energy permanent magnets. These magnets, capable of generating much stronger magnetic fields than their predecessors, have revolutionized the wind energy industry, allowing the construction of more efficient and higher capacity turbines.

Likewise, miniaturized magnets have enabled significant advances in consumer electronics. The magnets used in speakers, cameras and sensors are becoming smaller and more powerful, contributing to the creation of more compact and higher-capacity devices.

And the same thing happens in other fields of applications that are much more sensitive, such as Defense activities, satellites, health products, etc… In all of them, the latest technology magnets are used.

However, amid this innovation landscape, a major concern arises: the dependence of the global magnet market on China. Currently, China controls about 90% of the world’s production of rare earths, essential materials for the manufacture of many types of magnets, and also 90% of magnet manufacturing.

In conclusion, the evolution of magnets has been a crucial factor in the technological advancement of recent years. Its potential to continue innovating and improving our daily lives is immense. However, the global magnet market’s dependence on China poses a significant challenge that requires urgent solutions.

Collaboration between companies and countries is positive, but almost absolute dependence is not. And that seems to be the current situation in the case of magnets.

If anyone is interested, I offer a Report on the global permanent magnet market:

https://www.grandviewresearch.com/industry-analysis/permanent-magnets-industry