Magnets are at the heart of the products and applications essential to modern society. It is the Magnets which enable electricity, manufacturing, processing of goods, movement of water, tools for construction and transportation.​ Electrical Machines, motors and generators, are what drive these applications and represent the largest magnet market. As the world evolves away from purely fossil fuel-powered transportation this market will continue to grow from US$26.2 Billion in the year 2020, to a projected US$39.1 Billion by 2026.

On Land, Air and Sea, the electric and hybrid-powered machines must evolve along with this inversible trend.  The need for better, more efficient, lighter, lower-cost electrical machines will take over in virtually all industries from transportation to wind energy. And, new markets are emerging including personal electric transport, drones, electric aircraft, and much more! Other strategic markets such as defense, depend on magnets for instrumentation, vehicles and weaponry. As a result, demand for magnets, made of critical Rare Earth Elements (REE), will grow exponentially.

China dominates the REE and magnet industry producing greater than 80% of the world’s magnets. China’s vertical integration of cheap labor, raw materials and unsafe environmental standards have resulted in a “high-barrier to market-entry” for competitors Worldwide. Breaking China’s stronghold requires downstream innovation enabling a sustainable REE supply chain to reinvent technology and transform the industry.

The Advanced Magnet Lab (AML) has developed PM-Wire™. A novel solution for the design, manufacture and optimized performance of permanent magnets that, combined with efforts from numerous U.S. REE supply chain partners will streamline the supply chain and halt the dependency on China.  Furthermore, AML has validated PM-Wire™ as an enabler for non-REE magnets, strengthening the U.S. strategic market position.