Global Magnetic Materials Market by Product Types, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026
The global magnetic materials market is projected to expand at a substantial CAGR during the forecast period. This growth is attributed to the growing automotive industry, rising demand in end-use industries, and development and modernization of infrastructures.
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Magnetic materials produce a magnetic field around their surroundings which is generally invisible. These materials exhibit their magnetic properties even after they are removed from the specific magnetic field.
Increasing demand for permanent magnets across different industry verticals is driving the growth of this market. Hard/Permanent magnets are widely used in wind turbines for the generation of renewable energy. The growing adoption of magnets in various computer applications is also boosting this market’s development. These magnets also aid in increasing the energy efficiency. Furthermore, the growing use of nano-crystalline magnetic materials by the biomedical industry is also driving the global magnetic materials market.
Market Trends, Drivers, Restraints, and Opportunities:
- Rapid industrialization, growing automotive industry which utilizes magnets in a variety of components such as gearbox, pollution control and alternators is fueling the growth of the market.
- Rising need for miniaturization and power generation devices such as generators in wind and hydro-powered turbines is driving the growth for the market.
- Development and modernization of infrastructures is also boosting the market growth.
- Volatile raw materials prices of rare earth metals such as neodymium, samarium and dysprosium are anticipated to act as a key restraining factor for the market.
- Requirement of huge investment in R&D hampers the growth of the market.
- Increasing application range owing to development of new technologies is going to foster the growth of the market during the forecast period.
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Competitive Landscape:
Major companies in the global magnetic materials market include Dexter Magnetic Technologies, Dura Magnetics, Kaiven Magnet Co., Arnold Magnetic Technologies, Molycorp Inc., Hitachi Metals Ltd., Vacuumschmelze GmbH, Lynas Corporation Ltd., Shin-Etsu Chemical Co. Ltd, Daido Steel Co. Ltd. and All Magnetics Inc.
The Global Magnetic Materials Market has been segmented on the basis of
Product Types
- Semi-hard magnet
- Soft magnet
- Permanent/hard magnet type
Applications
- Automotive
- Electronics
- Industrial
- Power Generation
- Others
Regions
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Magnetic Materials Market Overview
- Global Magnetic Materials Market Analysis and Forecast by Type
- Global Magnetic Materials Market Analysis and Forecast by Application
- Global Magnetic Materials Market Analysis and Forecast by Sales Channel
- Global Magnetic Materials Market Analysis and Forecast by Region
- North Magnetic Materials Market Analysis and Forecast
- Latin Magnetic Materials Market Analysis and Forecast
- Europe Magnetic Materials Market Analysis and Forecast
- Asia Pacific Magnetic Materials Market Analysis and Forecast
- Middle East & Africa Magnetic Materials Market Analysis and Forecast
- Competition Landscape
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