Magnetic material are objects that can be magnetized or naturally hold magnetic properties. According to the ease of magnetization, magnetic materials can be classified into hard and soft. Hard magnetic materials retain their magnetism even in the absence of an applied magnetic field. Hard magnetic materials are difficult to magnetize and demagnetize. On the other hand, soft magnetic materials can be easily magnetized and demagnetized. They lose their magnetism when an external magnetic field is removed.
Market Analysis and Insights: Global Magnets and Magnetic Materials Market
Due to the COVID-19 pandemic, the global Magnets and Magnetic Materials market size is estimated to be worth US$ million in 2022 and is forecast to a readjusted size of US$ million by 2028 with a CAGR of % during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Semi-hard Magnet accounting for % of the Magnets and Magnetic Materials global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Automotive segment is altered to an % CAGR throughout this forecast period.
Environmental concerns, government support & incentives, increasing demand from end use industries, such as demand in automotive industry for electric vehicles, demand in medical devices for body scanners and others are the driving factors for the growth of the magnetic material market. Additionally, rapid industrialization, specifically in emerging economies and demand for alternative power sources, such as water turbine and wind mill are also driving the demand for magnetic material market.
Global Magnets and Magnetic Materials Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Magnets and Magnetic Materials Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Semi-hard Magnet
Soft Magnet
Permanent/Hard Magnet
Segment by Application
Automotive
Communications
Consumer Electronics
Other
By Company
Hitachi Metals, Ltd.
TDK
Ningbo Keningda Industry Co., Ltd.
DMEGC
LINGYI iTECH (GUANGDONG) COMPANY
Ningbo Yunsheng
Anhui Antai Technology Co., LTD
Shin-Etsu Chemical Co., Ltd.
Zhenghai Group Co., Ltd.
Innuovo
VAC
Arnold Magnetic
Galaxy Magnets
TDG HOLDING CO., LTD
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina