Magnetic Materials Market Size, Share, Competitive Landscape, Revenue Analysis, 2030

 The global Magnetic Materials Market is forecast to reach USD 181,888.61 Million by 2030, according to a new report by Reports and Data. 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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Market Overview:

The chemical industry is expected to register significant revenue growth over the coming years driven by a recovery in domestic demand due to rising prices of crude oils and better exports. The chemical and material industry has undergone radical changes owing to long-term trends such as evolution of advanced technologies such as the industrial internet of things (IIoT), artificial intelligence, machine learning, automation, and efficient data management tools. Increasing demand for novel chemical products such as soaps and detergents, particularly amid the COVID-19 pandemic, improvements in operational efficiency, and development of energy-efficient manufacturing and production processes are some other factors expected to drive market revenue growth going ahead. In addition, rapid adoption of trends such as sustainability and digitalization have further contributed to revenue growth of the materials and chemicals industry.

Key companies profiled in the Magnetic Materials reports are 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.   

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Type  Outlook (Revenue, USD Billion; 2017-2027)

Hard/Permanent Magnet

Semi-Hard Magnet

Soft Magnet

Application Outlook (Revenue, USD Billion; 2017-2027)

Transformers

Motors

Inductors

Generators

 End-User Outlook (Revenue, USD Billion; 2017-2027)

Automotive

Electronics & Telecommunications

Industrial

Power Generation

Others

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Regional analysis of Magnetic Materials market covers:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Key Questions Addressed by the Report:

What are the key factors expected to drive and restrain Magnetic Materials market growth over the forecast period?

What are the key products and applications offered by the Magnetic Materials markets?

What are the current and future market trends of the Magnetic Materials market?

Which segment is expected to show lucrative growth throughout the forecast period?

What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?

What are the key challenges and limitations the new entrants and companies will have to face in the Magnetic Materials markets over the forecast period?

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