LONDON--(BUSINESS WIRE)--The global magnetic materials market size is expected to grow by USD 23.29 billion during 2020-2024, progressing at a CAGR of almost 6% during the forecast period.
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The research on energy-efficient magnetic materials is one of the major factors propelling market growth. However, factors such as volatile prices of raw materials will hamper market growth.
Scientists across various universities are performing research on energy-efficient magnetic materials for data storage. For instance, a professor at Carnegie Mellon University is currently working on a project that focuses on finding ways to use topological protection to improve magnetic materials that are used for computer memory storage. Additionally, a team from the University of Washington has developed a technology that encodes information using magnets that are just a few layers thick. The materials used include sheets of chromium tri-iodide, and other cutting edge elements. All these innovations have opened a huge potential for computer technology applications, which will increase the adoption of magnetic materials and drive the magnetic materials market growth during 2020-2024.
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Global Magnetic Materials Market: Product Landscape
The growing applications of hard magnetic materials in various industries, the low cost of ferrite magnets, easy production, and the low cost of raw materials involved in their manufacturing are propelling the segment's growth. Therefore, the magnetic materials market share growth by the hard magnetic materials segment will be significant during the forecast period.
Global Magnetic Materials Market: Geographic Landscape
Factors such as rapid industrialization and significant expansions in the automotive, industrial, energy, and consumer electronics sectors will significantly drive magnetic materials market growth in this region over the forecast period. 45% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for magnetic materials in APAC. Market growth in this region will be slower than the growth of the market in North America and Europe.
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Companies Covered
- Arnold Magnetic Technologies Corp.
- Carpenter Technology Corp.
- Daido Steel Co. Ltd.
- DEXTER MAGNETIC TECHNOLOGIES
- Dura Magnetics Inc.
- Electron Energy Corp.
- Hitachi Metals Ltd.
- Lynas Corp. Ltd.
- TDK Corp.
- Toshiba Corp.
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, till 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Magnetic Materials Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in magnetic materials market growth during the next five years
- Estimation of the magnetic materials market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the magnetic materials market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the magnetic materials market, vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Hard magnetic materials - Market size and forecast 2019-2024
- Soft magnetic materials - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Application
- Market segments
- Comparison by Application
- Automotive and transportation applications - Market size and forecast 2019-2024
- Electronics and instrumentation applications - Market size and forecast 2019-2024
- Industrial applications - Market size and forecast 2019-2024
- Other applications - Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Arnold Magnetic Technologies Corp.
- Carpenter Technology Corp.
- Daido Steel Co. Ltd.
- DEXTER MAGNETIC TECHNOLOGIES
- Dura Magnetics Inc.
- Electron Energy Corp.
- Hitachi Metals Ltd.
- Lynas Corp. Ltd.
- TDK Corp.
- Toshiba Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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