Skip to main content

Global Magnetic Materials Market to Grow at 8.9% CAGR due to Growing Demand from Automotive and Wind Energy Sectors

Leading market intelligence firm Transparency Market Research (TMR) has released a new market research report. The report, titled ‘Magnetic Materials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019’, details the market in terms of its historical development to 2012 figures. Based on these figures, the future trajectory of the global magnetic materials market is predicted.The report states TMR’s estimations that the magnetic materials market is expected to grow at a robust 8.9% CAGR from 2013 to 2019 to reach an end value of US$87.18 billion. This represents a significant rise from the global market’s 2012 valuation of US$48 billion.

Of the three types of magnetic materials on the global market, semi-hard magnetic materials have historically been the dominant product segment of the market. Semi-hard magnetic materials took up a 55% share in the global market in 2012. They are expected to remain the dominant category over the forecast period, though in large part thanks to the headstart they have accumulated over the years. Easier availability of soft and permanent magnetic materials is expected to propel demand for these two segments at high rates over the forecast period. The high performance of permanent magnets such as NdFeB is a boon to the modern industrial sector and is expected to result in high demand for the permanent magnetic materials segment.
The report also provides detailed quantitative and qualitative information regarding the various applications of magnetic materials. The growing automotive industry is one of the two major end users of magnetic materials in the current scenario. Diverse applications of various magnetic materials in automotive design have resulted in high demand from the global magnetic materials market. The strong rise of the Asia Pacific automotive sector will help keep demand for magnetic materials high in the forecast period, allied to steady demand from the historical automotive powerhouses in Europe and North America.
“A good opportunity for major magnetic materials manufacturers catering to automotive giants is the growing interest in hybrid electric cars. Because magnetic materials are important components in electric powertrains, this sector will generate steady demand for magnetic materials in the coming years,” said a TMR analyst about a promising opportunity in the global magnetic materials market.
The energy sector, though, is a rapidly developing application segment of magnetic materials and is expected to grow in terms of demand for magnetic materials at a CAGR of 8.8% in the forecast period. Wind energy claims the largest demand for magnetic materials among all energy generation mechanisms. Growing support for wind energy from various governments around the world will result in an escalating demand for magnetic materials from the wind energy sector in the forecast period.The report also details the competitive landscape of the global magnetic materials market by profiling major players in the market, such as Molycorp Inc., Tengam Engineering inc., Hitachi Metals, Ltd., OM Group, and TDK Corporation.
Segmentation of Global Magnetic Materials Market
Magnetic Materials Market - Product Segment Analysis
  • Soft magnetic materials
  • Soft ferrite
  • Electrical steel
  • Permanent magnetic materials
  • Hard ferrite
  • NdFeB
  • SmCo
  • Alnico
  • Semi-hard magnetic materials
Magnetic Materials Market - Application Analysis
  • Automotive
  • Electronics
  • Energy generation
  • Others (Including household applications, etc.)

Labels:
Location: Albany, NY, USA

Comments

Post a Comment

Popular posts from this blog

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a...
Post a Comment
Read more

Industrial Lubricants Market: Strong Demand Across Automotive Industry, Trends To 2025

Lubricants refer to the organic or inorganic material primarily being use to decrease friction between two surfaces in contact. Lubricants play a key role in several industries as well as in commercial and residential sectors. One of their most common uses is in the lubrication of bearings and gears, allowing for their easy movement at high speeds, without loss in energy, prevent excessive generation of heat, or most importantly, prevent damage that would be caused otherwise. Industrial lubricants are, therefore, essential in enhancing the overall efficiency of a machine that contains moving parts in contact with one another. The global industrial lubricants market is currently expanding at a solid growth rate, driven by several factors and spearheaded by the likes of BP, Total, Chevron Corporation, ExxonMobil, and Shell. Browse Market Research Report @  http://www.transparencymarketresearch.com/industrial-lubricants-market.html What Impact has the Oil and Gas Industry ...
Post a Comment
Read more

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @   http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid proto...
Post a Comment
Read more