There are many uses for permanent magnets across industries. Strong magnets can be found inside popular products such as televisions, computers and microwaves, while professionals within the construction, food, and pharmaceutical sectors also use them. The unstable economy may have had a negative impact on some industries, but the market for magnets is doing quite well. In fact, it's only expected to get better in the years ahead. Greater Demand Boosts Financial Projections MarketsandMarkets, a global market research and consulting company, recently released a report on the demand for permanent magnets. Based on information contained in the pages of the report, the market for these objects is projected to grow by $18.8 billion by 2018. This increase is expected to occur at a compound annual growth rate of 8.7 percent between now and 2018. The changes in the state of the permanent magnet market happen at such a swift pace due to a few factors. According to the report, the demand for miniaturization, as well as the advantages magnets provide to domestic and industrial operations, help the market expand. Good News for the Market for Permanent Magnets If these projections become a reality, it will be good news for the permanent magnet market, which in 2012, didn't have the best year. Demand for rare Earth magnets of the permanent variety was up in 2011. However, with more people seeking these items, rare Earth magnets actually became rarer. This, in turn, had a negative impact on the magnet market. For this reason, the projections for 2018 will serve as a nice change of pace. Not only have conditions within the permanent magnet market stabilized, but they're also expected to become even stabler in the not too distant future. Discover More With Apex Magnets Want to stay up-to-date on the latest magnetic discoveries? Sign up for our newsletter to get these stories and more sent straight to your inbox each month. With the magnet market expected to grow in the years ahead, it's clear people want to take advantage of these items and their attractive properties. If you have yet to do so, now could be the ideal time to transform your life with a few permanent magnets. Before long, you'll understand why the market for magnets is about to expand.