The global market for magnets and magnetic materials reached $32.2 billion in 2016. The market should reach $34.9 billion in 2017 and $51.7 billion by 2022, increasing at a compound annual growth rate (CAGR) of 8.2% from 2017 through 2022.
The scope of this report is broad and covers two types of magnets used globally: soft magnets and permanent magnets. They have been classified in terms of their magnetic properties and their uses.
There are four types of permanent magnets based on the magnetic materials used for production: alnico, neodymium, samarium-cobalt and ferrite. Each of these is further divided on the basis of production processes, which primarily are termed sintering and bonding. The major applications of permanent magnets are in electric motors; generators; medical devices; sonic equipment, magnetic sensors and transducers; and consumer electronics. The market for each type of permanent magnet in these applications and the market for each type of permanent magnet by region is also covered in this report. Additional breakdowns on the basis of global consumption in each end-user industry, which includes automotive, industrial, medical and home appliances, are also covered. The revenue forecasts from 2017 to 2022 are explained for each type of permanent magnet by production process, application and region.
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Soft magnetic materials are divided into three types: electrical steel, soft ferrite and others. Other alloys used as soft magnetic material are amorphous alloys, nickel-iron alloys, silicon-iron alloy, iron-cobalt alloy, ferritic chromium-iron alloys and niobium-tin alloy. The major applications for soft magnetic materials are in electric motors, transformers, generators, alternators and others, which include inductors, relays and switches, antenna and filters. The end-user industry for soft magnets are electronics and telecommunications, electrical and automotive. The revenue forecasts from 2017 to 2022 of each type of soft magnets are described for each type for application, end-user industry and both by region.
The report also consists of a discussion of the major players across each of the segments; it explains the major market drivers for the global market of magnets and magnetic materials, the current trends within the industry and major end-user industries.
- An overview of the global market for magnets and their materials, along with emerging technologies and potential business opportunities in the future.
- Analyses of global market trends, with data from 2016, estimates for 2017, and projections of CAGRs through 2022.
- An overview of the chemistry and physics of magnets, and the processes to produce magnet products, and specific applications for magnet materials.
- Insight into the major end-use markets, such as instrumentation and other electronics, appliances and consumer electronics, industrial, and automotive.
- Information pertaining to the market's dynamics, including drivers, restraints, and potential opportunities.
- Profiles of major players in the field.
According to their magnetic properties, magnetic materials can be divided into two classes: soft and permanent. Soft materials are easily magnetized and demagnetized, and include electrical steel and soft ferrite, among other materials. These are widely used in transformers, generators, motors, relays, solenoids and other products. On the other hand, if the magnetic material is difficult to demagnetize, then it is referred to as a permanent (or hard) magnet. The latter is the focus of this study, and includes hard ferrite, aluminum-nickel-cobalt, samarium-cobalt, and neodymium-iron-boron materials used in motors, audio devices, MRI, microwave apparatus and various instruments.
Magnets are an integral part of several industries, such as automotive, electrical and electronics, renewal energy and healthcare. Companies worldwide are focusing their R&D efforts on technological innovations to expand the applications of different types of magnets in several end-user industries to provide state-of-the-art as well as energy-efficient products. This report examines the global market of magnets and magnetic materials in terms of value ($ Millions) with a focus on the major subsegments and trends in the industry that will impact the market of permanent magnets and soft magnets in the
next five years.
The global market for magnets and magnetic materials was valued at approximately $32.2 billion in 2016, and is estimated to grow at a year-over-year (YOY) growth rate of 7.8%, in terms of value, to reach almost $34.9 billion in 2017. Further, the market is estimated to increase at a five-year compound annual growth rate (CAGR) (2017 through 2022) of 8.2%, in terms of value, to reach over $51.7 billion in 2022.
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