Global Magnetic Materials Market
The global Magnetic Materials market was valued at USD 30.99 billion in 2021 which expected to reach USD 48.17 billion by 2027 at a CAGR 5.7% from 2021-2027.
Magnets are currently employed in almost every industry. Magnets are used in everything from microphones to electric motors in automobiles. It is currently widely employed in the medical business, for example, MRI, or magnetic resonance imaging, which employs large magnets in conjunction with radio waves to diagnose a range of problems inside the body. These products are utilized in home entertainment applications like as PCs, CD players, TVs, gaming consoles, and loudspeakers. Furthermore, due to their various atomic structures, different materials behave differently when placed in a magnetic field. In its most basic form, the number of unpaired electrons in each atom affects a material's magnetic behavior.
Market Drivers
Development and modernization of infrastructures
The growing trend of modernization and electrification to increase efficiencies and lower production costs boosts the use of permanent magnets in a variety of industries. Building technologies provide modern solutions that assure maximum sustainability, energy efficiency, and safety. These not only provide industry-specific solutions for data centers, hospitals, life science firms, airports, hotels, and utility companies, but also solutions for international company commercial buildings and city infrastructures.
Market Restraints
Magnetic materials are expensive.
Price changes in raw materials are expected to be one of the key factors constraining market expansion. The high cost of materials like samarium cobalt, dysprosium, and neodymium has a significant impact on the supply chain, limiting their use. Product price variations, particularly for permanent magnets, add to manufacturing costs, influencing product quality and quantity. However, this is aided further by product laws and constraints, which are some of the key factors projected to restrain worldwide market revenue growth throughout the forecast period.
Market Segmentation
The Global Magnetic Materials Market is segmented into Type, Application. By Type such as Hard/Permanent, Semi-hard, And Soft. Further, market is segmented into By Application such as Automotive & Transportation, Electronics, Energy, Others.
Regional Analysis
Global Magnetic Materials Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific dominated the Magnetic Materials market. High-volume production in the automotive and electronics industries in China, India, and Japan is expected to drive regional demand for magnetic materials. According to the International Organization of Motor Vehicle Manufacturers (OICA), China will produce 32.5% of the world's automobile manufacturing in 2021.
Europe is expected to have profitable growth in the coming years. According to the government, Europe will invest EUR 41 billion in the wind energy sector in 2021, for a total of 25 GW of new generating capacity. Neodymium magnets consisting of iron, boron, and neodymium are used in various types of wind turbines; these magnets efficiently generate power.
Key Players
Various key players are listed in this report such as Daido Steel Co. Ltd.; Hitachi Metals Ltd.; TDK Corp; Shin-Etsu Chemical Co. Ltd.; Molycorp Magnequench; Lynas Corporation Ltd.; Arnold Magnetic Technologies Corporation; Electron Energy Corporation; Tengam Engineering, Inc..
Market Taxonomy
By Type
By Application
By Region
Key Questions Addressed by the Report
Global Magnetic Materials Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Magnetic Materials Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Magnetic Materials Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Magnetic Materials Market Share Analysis, By Type
5.3 Global Magnetic Materials Market Size and Forecast, By Type
5.3.1 Hard/Permanent
5.3.2 Semi-hard
5.3.3 Soft
6 Global Magnetic Materials Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Magnetic Materials Market Share Analysis, By Application
6.3 Global Magnetic Materials Market Size and Forecast, By Application
6.3. 1 Automotive & Transportation
6.3.2 Electronics
6.3.3 Energy
6.3.4 Others
7 Global Magnetic Materials Market, By Region
7.1 Global Magnetic Materials Market Share Analysis, By Region
7.2 Global Magnetic Materials Market Share Analysis, By Region
7.3 Global Magnetic Materials Market Size and Forecast, By Region
8 North America Magnetic Materials Market Analysis and Forecast (2021-2027)
8.1 Introduction
8.2 North America Magnetic Materials Market Share Analysis, By Type
8.3 North America Magnetic Materials Market Size and Forecast, By Application
8.4 North America Magnetic Materials Market Size and Forecast, By Country
8.5.1 U.S.
8.6.2 Canada
9.7.3 Mexico
9 Europe Magnetic Materials Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 Europe Magnetic Materials Market Share Analysis, By Type
9.3 Europe Magnetic Materials Market Size and Forecast, By Application
9.4 Europe Magnetic Materials Market Size and Forecast, By Country
9.5.1 Germany
9.6.2 France
9.7.3 UK
9.8.4. Rest of Europe
10 Asia Pacific Magnetic Materials Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Asia Pacific Magnetic Materials Market Share Analysis, By Type
10.3 Asia Pacific Magnetic Materials Market Size and Forecast, By Application
10.4 Asia Pacific Magnetic Materials Market Size and Forecast, By Country
10.5.1 China
10.6.2 Japan
10.7.3 India
10.8.4. Rest of Asia Pacific
11 Latin America Magnetic Materials Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Latin America Magnetic Materials Market Share Analysis, By Type
11.3 Latin America Magnetic Materials Market Size and Forecast, By Application
11.4 Latin America Magnetic Materials Market Size and Forecast, Country
11.5.1. Brazil
11.6.2. Rest of Latin America
12 Middle East Magnetic Materials Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Middle East Magnetic Materials Market Share Analysis, By Type
12.3 Middle East Magnetic Materials Market Size and Forecast, By Application
12.4 Middle East Magnetic Materials Market Size and Forecast, By Country
12.5.1. Saudi Arabia
12.6.2. UAE
12.7.3. Egypt
12.8.4. Kuwait
12.9.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14Company Profiles
14.1 Daido Steel Co. Ltd
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Hitachi Metals Ltd
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. TDK Corp
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Shin-Etsu Chemical Co. Ltd
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Molycorp Magnequench.
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Lynas Corporation Ltd
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Arnold Magnetic Technologies Corporation.
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Electron Energy Corporation
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Tengam Engineering, Inc
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
