The Magnetic Materials Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Magnetic Materials Market:
https://www.thebusinessresearchcompany.com/report/magnetic-materials-global-market-report
According to The Business Research Company’s Magnetic Materials Global Market Report 2024, The magnetic materials market size has grown strongly in recent years. It will grow from $33.66 billion in 2023 to $35.68 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to electronics boom, automotive applications, telecommunications infrastructure, renewable energy growth, medical imaging.
The magnetic materials market size is expected to see strong growth in the next few years. It will grow to $45.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to electric vehicle revolution, miniaturization trends, energy storage solutions, emerging magnetocaloric cooling, automation and robotics. Major trends in the forecast period include 5g technology deployment, magnetic levitation technologies, magnetic recording technology, magnetic 3d printing, iot integration, magnetic materials for aerospace.
The growing demand for the automotive industry is expected to propel the growth of the magnetic material market going forward. The automotive industry refers to the sector involved in the design, development, production, marketing, and sale of motor vehicles, including cars, trucks, motorcycles, and other vehicles. The growing demand for the automotive industry has significant implications for the use of magnetic materials. Magnetic materials play a crucial role in various components and systems within automobiles, contributing to their performance, efficiency, and safety. For instance, in March 2022, according to a report published by the European Automobile Manufacturers' Association (ACEA), according to the primary standards and advocacy organization for the EU's automotive industry, US passenger car sales climbed by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. In 2021, the number of automobiles produced by Chinese automakers increased by 7.1% to 20.7 million. The total number of automobiles produced globally increased by 2.7% to 63.2 million. Also, in 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Therefore, the growing demand for the automotive industry is driving the growth of the magnetic material market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=11979&type=smp
The magnetic materials market covered in this report is segmented –
1) By Type: Hard Magnetic Materials, Soft Magnetic Materials, Semi-Hard Magnetic Materials
2) By Raw Materials: Neodymium, Ferrite, Alnico, Samarium Cobalt, Bonded NdFeB
3) By Orientation: Diamagnetic, Paramagnetic, Ferromagnetic, Anti-Ferromagnetic
4) By Application: Transformers, Motors, Inductors, Generators, Other Applications
Technological developments are a key trend gaining popularity in the magnetic materials market. Companies operating in the magnetic materials market are adopting new technologies to sustain their position in the market. For instance, in November 2022, according to Critical Materials Institute (CMI), a US-based energy innovation hub led by Ames National Laboratory, the research conducted by the Department of Energy's Critical Materials Institute (CMI) and Ames National Laboratory represents a significant development in the field of permanent magnet materials. The researchers have enhanced the properties of a rare-earth-free magnet material called manganese bismuth (MnBi) and demonstrated its potential for large-scale manufacturing. By carefully controlling the microstructure of the MnBi magnets, the researchers were able to improve their magnetic properties and performance. This advancement is particularly noteworthy because it offers a pathway to creating compact and energy-efficient motors without relying on rare earth elements.
The magnetic materials market report table of contents includes:
1. Executive Summary
2. Magnetic Materials Market Characteristics
3. Magnetic Materials Market Trends And Strategies
4. Magnetic Materials Market analysis
5. Magnetic Materials Market Size And Growth
6.Magnetic Materials Segmentation
7. Magnetic Materials Regional And Country Analysis
.
.
.
27.Magnetic Materials Competitive Landscape And Company Profiles
28.Magnetic Materials Key Mergers And Acquisitions
29.Magnetic Materials Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- TDK Corporation
- Daido Steel Co. Ltd.
- Hitachi Metals Ltd.
- Magnequench Inc.
- Lynas Corporation Ltd.
- Eriez Magnetics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Soft Magnetic Materials Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the soft magnetic materials market include AMES, Daido Steel, Grundfos A/S, Hitachi, Ltd., Mate Co., Ltd., Melrose Industries PLC, SG Technologies, Sumitomo Metal Mining Co., Ltd., Toshiba Materials Co., L., Rio Tinto PLC, Hoganas AB.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Soft Magnetic Materials Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/soft-magnetic-materials-market/download-sampleMarket DynamicsRapid industrialization and urbanization and the need for greater energy efficiency are factors augmenting the demand for the soft magnetic material.
Flourishing production of electric motors, gearbox, alternator, induction coil, and antenna core is propelling the growth of the soft magnetic material market.
The newest type of soft magnetic material in use is amorphous and nanocrystalline alloys.
