MAGNETIC MATERIALS MARKET TO REACH USD 176 BILLION BY 2027 | CAGR 9.1% – FORENCIS RESEARCH

Magnetic Materials MarketΒ - Global Industry Analysis and Forecast 2020 to 2027

Global Magnetic Materials Market: Key Highlights

  • According to the new market research report Magnetic Materials Market by Type (Hard/Permanent Magnet, Semi-Hard Magnet, Soft Magnet), by Application (Automotive, Electronics, Industrial, Power Generation), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global magnetic materials market is estimated to reach USD 176 Billion by 2027 at a CAGR of around 9.1% during the review period.
  • The Magnetic material response magnetic material responds to the applied magnetic field either in the form of attraction or repulsion by generating magnetization or demagnetization property
  • Magnetic Materials can be classified in permanent or temporary, soft, semi-hard or hard, each of them with specific properties and uses
  • These materials are used in various application including automotive, electronics, power generation, industrial, and others.

Magnetic Materials Market

Global Magnetic Materials Market: Key Market Dynamics

  • The increased need for high-quality magnetic materials used in processing automotive bodies and use of advanced technologies boost the market
  • Development and modernization of infrastructure is also expected to drive the global magnetic materials market during the forecast period,
  • Volatility in raw material prices remains a major threat to the market growth

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Global Magnetic Materials Market: Regional Overview

  • Asia-Pacific

The Asia-Pacific is expected to emerge as the global leader in the soft magnetic materials market. Moreover, this region is expected to grow at the highest CAGR during the forecasted period. This growth can be attributed to the owing to the increase in the base of automotive manufacturers and rise in investment in the establishment of advanced electronics and telecommunications industries. China is expected to dominate the magnetic material market in the Asia-Pacific region due to it has an excellent automobile production rate, according to OICA, which, in turn, is a factor behind the rising demand for the industry.

Global Magnetic Materials Market: Key Players Overview

  • Hitachi Metals, Ltd.:

Hitachi Metals, Ltd. Is a Japan-based company the Manufacture and marketing of advanced metals products for the automotive, infrastructure, and electronics industry. The company manufacturers and sell high-grade special steel, industrial equipment materials, various rolling rolls, parts for injection molding machines, structural ceramic parts, steel frame structural parts, soft magnetic materials. In October 2018, Hitachi Metals, Ltd. Expanded its production capacity for FINEMET nanocrystalline magnetic materials. 

  • Daido Steel Co., Ltd.:

Daido Steel Co., Ltd. manufactures and markets speciality steel products for automobiles, electronics, and construction use. The company operates through following business segments specialty steel, high perfomance materials and magnetic materials, parts for automobile and industrial equipment, engineering, trading and service. High perfomance materials and magnetic materials business segment offer following products Stainless steel, nickel-based alloys, electrical and electronics parts, magnetic material products(OA・FA motor, automotive meter, sensor, measuring device component, etc.), Alloy powder (magnetic powder for HEV), Titanium products (medical titanium alloys, shape-memory alloys), welding wire.

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Rep Id : CM 0118

Published : 2020-07-30

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