DUBLIN, March 15, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/7x8r6b/magnetic) has announced the addition of the "Magnetic Materials Market - Global Forecasts to 2020" report to their offering.
The global magnetic materials market is projected to reach USD 96.00 Billion by 2020, registering a CAGR of 9.6% between 2015 and 2020. The growth of the market is primarily driven by the automotive industry. Automobile uses magnetic materials in various parts, such as motors, sensors, actuators, and switches. Increasing concerns to enhance the fuel economy of vehicles force manufacturers to extensively reduce vehicle weight and increase combustion efficiency.
The automotive application dominated the magnetic materials market in 2014; however, the application is projected to register the highest growth rate in the overall market between 2015 and 2020. The increased need for high-quality magnetic materials used in processing automotive bodies and use of advanced technologies boost the market.
The magnetic materials market is classified on the basis of type into semi-hard magnet, soft magnet, and hard/permanent magnet. The market is dominated by semi-hard magnet owing to global demand for technological systems & devices providing innovative products. Some of the related products are anti-theft articles, electronic systems, automotive devices, and smart electronic bank cards. Semi-hard magnet is estimated to register high growth during the forecast period.
Currently, Asia-Pacific is the largest and fastest-growing market for magnetic materials owing to high demand from major markets, such as China, India, and Japan. The growing automotive industry in the region is also driving the market for magnetic materials.
Companies Mentioned:
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Magnetic Materials Market, By Type
7 Magnetic Materials Market, By Application
8 Magnetic Materials Market, By Region
9 Competitive Landscape
10 Company Profiles
For more information visit http://www.researchandmarkets.com/research/7x8r6b/magnetic
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SOURCE Research and Markets
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