About Magnetic Materials
Magnetic materials are the material that has magnetic properties similar to those of iron. They produce a magnetic field around their surroundings. Magnetic materials have a diverse range of applications. They can be utilized in the creation and distribution of electricity. They are also used for signal transfer, magnetic field screening, permanent magnets, data storage and quantum devices.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Magnetic Materials market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Hitachi Metals Ltd. (Japan), Daido Steel Co. Ltd. (Japan), Molycorp Magnequench (Canada), Shin-Etsu Chemical Co. Ltd. (Japan), TDK Corporation (Japan), Arnold Magnetic Technologies (United States), Electron Energy Corporation (United States), Lynas Corporation Ltd. (Malaysia), Tengam Engineering Inc. (United States) and Dexter Magnetic Technologies (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Adams Magnetic Products (United States), Ningbo Vastsky Magnet (China) and Dura Magnetics, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Magnetic Materials market by Type (Paramagnetic materials, Diamagnetic materials, Ferromagnetic materials {Soft Ferromagnetic Materials and Hard Ferromagnetic Materials} and Ferrites {Soft Ferrites and Hard Ferrites}), Application (Industrial, Electronics, Power Generation, Automotive and Others) and Region.
On the basis of geography, the market of Magnetic Materials has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Property, the sub-segment i.e. Hard/Permanent Magnet will boost the Magnetic Materials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Use of Nano-Crystalline Magnetic Materials
Market Growth Drivers:
Growing Automotive Industry, Applications in Wind Turbine Energy Generation and Increasing Demand for Permanent Magnets in Various Industries
Challenges:
Requirements of Huge Investment in Research and Development
Restraints:
Price Variations in the Raw Materials Affecting the Growth of the Market
Opportunities:
Rapid Industrialization in the Developing Countries and Growing Demand from End-user Industry
Market Leaders and their expansionary development strategies
In May 2017, TDK, a leading electronics company based in Japan completed the acquisition of InvenSense inc., provides MEMS sensor platforms.
In October 2020, Hitachi Metals announced that it had developed a new type of magnet made from rare-earth-free materials. It is called the RE-free magnet. The company claimed that RE-free magnet has high magnetic properties that are comparable to those of conventional magnets made with rare earth metals.
Key Target Audience
Magnetic Material Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.