NEW YORK, April 5, 2016 /PRNewswire/ -- "Increased usage of magnetic materials in various applications"
The market size of magnetic materials is projected to reach USD 96.00 billion by 2020, registering a CAGR of 9.6% between 2015 and 2020. The magnetic materials meet the specific requirement of industries, such as automobile, energy storage, electrical & electronics, and medical. New technologies are introduced every year that improve the size, weight, and cost of these materials. The increasing use of magnetic materials and infrastructure development has offered enormous opportunities in to the market in Asia-Pacific.
"Automotive application to dominate the market"
The automotive application segment dominated the global magnetic materials market in 2014. It is projected to register the highest growth rate between 2015 and 2020. Rapid growth of the automotive industry, especially, in Asia-Pacific, drives the use of magnetic materials in the automotive application segment, thus boosting the market growth.
"Asia-Pacific projected to be fastest-growing market during forecast period"
Asia-Pacific is projected to be the largest and fastest-growing market for magnetic materials globally. The increase in disposable income and industrial growth in Asia-Pacific led to the increasing demand for high-performance magnetic materials. In addition, there has been a consistent rise in number of vehicles in the region over the past decade, which fuels the demand for magnetic materials in the region.
Break-up of profile of primaries for the report
- By Company Type – Tier 1 – 24%, Tier 2 – 47%, and Tier 3 – 29%
- By Designation – C-level – 38%, Director Level – 31%, Others – 31%
- By Region – North America – 31%, Europe – 44%, Asia-Pacific –19%, and RoW – 6%
Some of the major companies profiled in this report are Hitachi Metals Ltd. (Japan), Daido Steel Co. Ltd. (Japan), Molycorp Magnequench (Canada), Shin-Etsu Chemical Co. Ltd. (Japan), TDK Corp. (Japan), and others.
Reasons to buy the report
While making strategic decisions in business, timely and useful information is required. This report fulfills the requirements of various stakeholders, including material suppliers, product manufacturers, investors, and executives. Some of the salient features of this report are:
- Porter's Five Forces Analysis
- Value-chain Analysis
- Market Segmentation (Type, Application, and Region), by Volume and Value
- Competitor Analysis
- Detailed Information on Strategic Developments in the Industry
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