Magnetic Materials Market

Magnetic Material Market Size By Product (Hard Magnetic Material, Soft Magnetic Material, Semi-Hard Magnetic Material), By Application (Electronics, Automotive, Power Generation, Industrial, Other) Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: BMRC 1520 | Number of pages: 200 | Publish Date: Apr 2021
    Status: Published | Category: Semiconductor | Delivery Timeline: 48 hrs

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Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027

Brandessence Market Research has published a new report title and According to Study "Global Magnetic Materials Market is valued at USD 88.94 Billion in 2020 and expected to reach USD 164.68 Billion by 2027 with a CAGR of 9.2% over the forecast period”.

Global Magnetic Materials Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Development and modernization of infrastructure,  growing automotive industry and increasing growth of end-use industries are anticipated to drive the growth of global magnetic materials market.

Scope of Global Magnetic Materials Market Report:

Magnetic materials are materials studied and utilized mainly for their magnetic properties. The attractive reaction of materials is to a great extent dictated by the attractive dipole second connected with the inborn angular momentum, or spin, of its electrons. A material's reaction to an applied attractive field can be described as, paramagnetic, diamagnetic, ferromagnetic or anti-ferromagnetic. Attractive materials are likewise supposed to be magnetizable implying that the use of a magnetic field makes the actual material become a source of the magnetic field. Magnetic media are nothing but semiconductors, metals, or heterogeneous media containing such materials. The generally speaking magnetic behavior of a material can fluctuate broadly, depending upon the structure of the material, especially on its electron configuration. A few types of magnetic behavior are seen in various materials. A magnetic material is classified as permanent magnet and temporary magnet, soft, hard, semi-hard, every one of them with explicit properties and uses. Magnets are being utilized all over the place, from everyday life to an automobile industry. Magnets have replaced various traditional segments and arisen as a rewarding low cost, environment friendly resource. With increasing demand in less cost and high throughput in electronic items, magnets can be a distinct advantage. Magnetic materials are used in different industries such as automobile industry and medial industry.

During Covid-19 pandemic, the demand of medical equipments such as MRI machines, CT scanners and ventilators has suddenly increased which drives the magnetic material market. Local ventilator manufacturer raise their production capacity to meet rising demand of oxygen. Hence, during covid-19 pandemic, demand of magnetic materials in healthcare industry rapidly increased. However, government imposed restriction on transportation which has shown an adverse effect on automobile and other industries. With worldwide exchange fairs being dropped, the infectious disease likewise has a worldwide effect. The lockdown in a few locations has seriously affected the business all over the globe.

Global magnetic materials market is segmented on the basis of product, application and region & country level. Based upon product, magnetic materials market is classified into hard magnetic material, soft magnetic material and semi-hard magnetic material. Based upon application, the market is divided into electronics, automotive, power generation, industrial and other.

Global Magnetic Materials Market Segmentation:

By Product:

  • Hard Magnetic Material
  • Soft Magnetic Material
  • Semi-Hard Magnetic Material

By Application:

  • Electronics
  • Automotive
  • Power Generation
  • Industrial
  • Other

The regions covered in this global magnetic materials market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of global magnetic materials is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Key Players for Global Magnetic Materials Market Report-

Some major key players for global magnetic materials market report cover prominent players Magnequench International, Hitachi Metals Ltd, Ak Steel Corporation, Daido Steel Co.Ltd, Shin-Etsu Chemicals Co, TDK Corporation, Zhejiang Kaiven Magnet Co ltd, Electron Energy Corporation,  Ningbo Vastsky Magnet, Tengam, Sin-Etsu Chemicals Co, Steward Advanced Materials LLC, Toshiba Materials Co,ltd, and others.

News: Fraunhofer IFAM Launched New Research Area on Soft Magnetic Materials.

July 30th, 2020; The Fraunhofer Institute for Manufacturing Technology and Advanced Materials (IFAM) launched a new research area working group on soft magnetic materials. This exploration is especially significant for the highly effective areas of electro mobility and renewable energy. With energy request rising all around the world and the electrical market developing, the portion of electrical energy converters is additionally expanding.  Overall, 9% of all energy generated is lost during transformation and transmission and the energy losses in electromagnetic parts, for example attractive centers, play an important part here.

Development and Modernization of Infrastructure,  Growing Automotive Industry and Increasing Growth of End-Use Industries are Anticipated to Drive the Growth of Global Magnetic Materials Market

One of the major factors driving the growth of global magnetic material market is development and modernization of infrastructure. The developing trend of modernization and charge to improve efficiencies and reduce the cost of product upgrades the utilization of lasting magnets in different businesses. The building technology offer progressed solutions that guarantee the most significant levels of energy efficiency, maintainability, and safety. It doesn’t just offer industry-specific answers for server centers, medical clinics, airports, hotels,  life science organizations and service organizations, yet additionally offers answers for business structures of global organizations just as urban communities and their infrastructure. Permanent magnets are progressively utilized in the engines of train doors and lift doors. For example,  NdFeB magnets are additionally used to dewax oil pipelines in China.

In addition, growing automotive industry which utilizes magnets in a variety of components such as the gearbox, alternators, and pollution control is also fostering the market growth. There has been a huge expansion in the complexity of vehicle electrical control systems which has raised the interest for amazing auto magnets utilized in the production of automotive actuators and drives. Magnetic assemblies and automotive magnets give a protected method to separate and move automotive sheet metal boards during the assembling process, increasing effectiveness and reducing the measure of harm to parts. Furthermore, increasing growth of end-use industries is also supplementing the market growth. The Microphone uses to electric engines in vehicles, all are derivatives of magnet. It is currently broadly utilized in clinical industry, for example MRI called as magnetic resonance imaging utilize powerful magnets in blend with radio waves to analyze variety of conditions inside body.

However, requirement of huge investment in R&D and high volatile cost of raw materials may hamper the magnetic material market growth. In spite of that, development of new technologies can offer more opportunities for the further growth of the magnetic material market.

North America is Expected to Dominate the Global Magnetic Materials Market

North America is expected to dominate the global magnetic material market. North America is the biggest adaptable magnet market because of the presence of fare situated assembling capacities and significant domestic demand from different end-user industries. The development of automotive and coordination industries is further driving the market development in this region. In March 2015, Hitachi Metals Ltd. presented ML95S and ML90s, high frequency trademark delicate ferrite center materials. These materials are to be utilized in the energy-reserve funds relating to the parts for car, cell phones, and other organization hardware. In June 2015, Hitachi Metals, Ltd. and  Zhong Ke San Huan announced to joint dare to fabricate and sell neodymium-iron-boron magnets.

Asia Pacific is the fastest developing magnetic material market owing to the high demand for advanced medical care facilities like MRI, technological advancement, rising rate of diseases and increased growth of automotive industry in this region. For instance; Electron Energy Corporation (EEC) and its group are building up another handling technology that could change how perpetual magnets found in the present EV engines and renewable force generators are fabricated. This new interaction, known as friction consolidation extrusion could create stronger magnets at a lower cost and with reduced rare earth mineral substance.

Key Benefits for Global Magnetic Materials Market Report:

  • Global magnetic materials market report covers in-depth historical and forecast analysis.
  • Global magnetic materials market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
  • Global magnetic materials market report helps to identify opportunities in marketplace.
  • Global magnetic materials market report covers extensive analysis of emerging trends and competitive landscape.

Magnetic Materials Market By Regional & Country Level:

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • France
  • Germany
  • Italy

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

Latin America

  • Brazil
  • Mexico

Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

 


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Magnetic Materials Market Key Statistics Analysis | Forecast to 2027 and Analysis 2019-2025

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Magnetic Material Market Size By Product (Hard Magnetic Material, Soft Magnetic Material, Semi-Hard Magnetic Material), By Application (Electronics, Automotive, Power Generation, Industrial, Other) Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

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