The ‘Global Magnetic Materials Market Report,’ published by Reports and Data, offers a panoramic vision of the global Magnetic Materials market. The report presents accurate details on market size and revenue growth rate over the forecast period. It expounds on the current industry scenario and offers a detailed assessment of the latest and emerging market trends. The report contains key industry statistics presented in a tabular format to give readers an exclusive picture of the global Magnetic Materials market. The global magnetic materials market demand is anticipated to augment on account of the increasing need for power generation and miniaturization devices like generators in the wind and hydro-powered turbines over the forecasted period. In addition, the industry is expected to be driven by the growing automotive industry, which uses magnets in various components such as pollution control, alternators, and gearbox. However, volatile prices of rare-earth metals, including samarium, dysprosium, and neodymium used in the production of magnetic materials, are expected to act as a key market restraint. The rise in application range owing to the development of new technologies is anticipated to open new avenues for the global magnetic materials sector over the forecasted period.

The growing trend of electrification and modernization to reduce the cost of production and improve efficiencies enhances the use of permanent magnets in a variety of end-use industries. The building technologies provide advanced solutions that ensure the highest levels of energy efficiency, safety, and sustainability. These not only offer industry-specific solutions for hospitals, life science companies, airports, hotels, utility companies, and but also provide solutions for commercial buildings of cities as well as international companies and their infrastructures. Permanent magnets are extensively used in the motors of lift doors and train doors. NdFeB magnets are also used to dewax oil pipelines in China

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The latest industry analysis report offers in-depth information regarding the key segments and sub-segments of the global Magnetic Materials industry and emphasizes the current pandemic situation that has significantly disrupted the industry’s growth trend. Key dynamics impacting the market growth include drivers, restraints, opportunities, supply demand ratios, emerging market trends, technological innovations, and value chain analysis. The report further highlights some major challenges, imminent risks and threats, and stringent government policies and regulations that are expected to impede market growth during the forecast period. The report is aimed at enabling readers to gain deep insights into the global Magnetic Materials market and its core mechanism and capitalize on the favorable market growth prospects. It further offers a concise summary of the Magnetic Materials market’s intensely competitive landscape and lists down the leading players in the market. This section of the report also highlights the strategic initiatives undertaken by these players for long-term business growth. According to the report, the global Magnetic Materials market is projected to reach a whopping market size of USD 143.87 Billion by 2030 from USD 73.52 billion in 2019, registering a robust 9.3% CAGR.

Magnetic Materials Industry Overview

The global materials chemicals industry revenue growth can be majorly attributed to increasing demand for essential consumer goods including soaps, detergents, and beauty personal care products worldwide, rising preference for sustainable and eco-friendly raw materials, and growing use of advanced chemicals and raw materials in industries including agriculture, food beverage industries, buildings construction, automotive, packaging, and manufacturing industries. Other major factors driving the growth of this industry are rising pollution levels, increasing environmental awareness, increasing use of technologically advanced chemicals and materials, and rising demand for organic materials.

Top Companies Profiled in the Report:

Hitachi Metals, Ltd., Daido Steel Co., Ltd, Molycorp Magnequench, Shin-ETSU Chemical Co., Ltd., TDK Corporation, Lynas Corporation Ltd., Arnold Magnetic Technologies Corporation, Electron Energy Corporation, Tengam Engineering, Inc., and Adams Magnetic Products Co., Inc. among others. 

Further key findings from the report suggest

The Asia Pacific is expected to have an attractive growth for the magnetic material market as many multinational companies are shifting their manufacturing set-ups to this region.

China has an excellent automobile production rate, according to OICA, which, in turn, is a factor behind the rising demand for the industry.

Among the end-user segment, electronics telecommunication is presently leading the market, and it will continue to dominate with an estimate to register the highest CAGR of 9.4% over the forecasted period.

Among the type segment, a semi-hard magnet is presently leading the market, and it will continue to dominate with an estimate to register the highest CAGR of 9.5% over the forecasted period.

Demand for faster transmission of data, decreasing the size of technological devices, and effective utilization of electricity has provided an impetus to the magnetic material sector.

Type  Outlook 

Hard/Permanent Magnet

Semi-Hard Magnet

Soft Magnet

Application Outlook 

Transformers

Motors

Inductors

Generators

 End-User Outlook 

Automotive

Electronics Telecommunications

Industrial

Power Generation

Others

Global Magnetic Materials Market Segmentation: Regional Outlook

North America

Latin America

Asia Pacific

Europe

Middle East Africa

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