Magnetic materials are materials that either naturally possess magnetic properties or can be induced artificially with magnetic properties. Magnetic properties can be permanent or temporarily induced as per the end use. On the basis of product type, magnetic materials can be segmented in to five major categories namely neodymium (NdFeB) magnet, samarium-cobalt (SmCo) magnet, ferrite, alnico magnet and others.Magnetic materials are used in several end user applications including consumer and commercial electronics such as computer disks, televisions, conveyors, pulleys and separators among others. Health care, transportation and energy are amongst the other major applications of magnetic materials.
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Demand for magnetic materials is mainly driven by the increasing disposable income leading to growing demand for several end user industries such as electronics and automotives. Increasing threat of energy crisis coupled with government regulations for energy efficient structures are amongst the other major drivers for the industry. However, certain magnetic materials such as neodymium cause health hazards which have been a major restraint for the industry growth. In addition, fluctuating prices of raw materials used in the manufacture of magnets is expected to be a vital restraining factor for the growth of the market. Increasing demand for wind energy is expected to offer huge growth opportunity for the industry in the near future.
Asia Pacific region has emerged as a market leader in the magnetic materials market and the trend is expected to continue within the forecast period. Demand in the Asia Pacific region is mainly driven by the developing economies of India and China, owing to the presence of enormous electronic and automobile industries. In developed economies of North America and Europe, the demand for magnetic materials is mainly driven by government regulations and incentives to promote the use of renewable energy and energy efficient infrastructure and devices.
Some of the major players in the magnetic materials market Arnold Magnetic Technologies Corp., Electron Energy Corp., Advanced Technology & Materials Co. Ltd., Magnetics Inc., JFE Ferrite Corp., Hengdian Group DMEGC Magnetics Co. Ltd., and Beijing Jingci Magnetism Technology Co. among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
· North America
· Asia Pacific
· Rest of the World
This report provides comprehensive analysis of
· Market growth drivers
· Factors limiting market growth
· Current market trends
· Market structure
· Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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