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
·
Europe
·
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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