Magnetic Materials Market to grow by USD 12.91 billion from 2022 to 2027 | the market is fragmented due to the presence of prominent companies like Alliance LLC, Arnold Magnetic Technologies Corp. and Carpenter Technology Corp., and many more - Technavio

NEW YORK, Sept. 28, 2023 /PRNewswire/ -- The magnetic materials market is estimated to grow by USD 12.91 billion from 2022 to 2027, growing at a CAGR of 6.56%. The magnetic materials market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer magnetic materials market are Alliance LLC, Arnold Magnetic Technologies Corp., Carpenter Technology Corp., Daido Steel Co. Ltd., DEXTER MAGNETIC TECHNOLOGIES, Dura Magnetics Inc., Electron Energy Corp., Grundfos Holding AS, Hengdian Group Holdings Ltd., Lynas Rare Earths Ltd., Magna Tronix Pvt. Ltd., Magnaworks Technology Inc., Magnet Expert Ltd., Merck KGaA, Nippon Steel Corp., TDK Corp., The InterTech Group Inc., Toshiba Corp., TyTek Group, and Hitachi Ltd. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying.

Company Offering:

• Alliance LLC - The company offers magnetic materials such as rare earth magnets, ferrite magnets, alnico magnets, and samarium cobalt magnets.
• Arnold Magnetic Technologies Corp. - The company offers magnetic materials such as Samarium Cobalt, Neodymium Iron Boron, Alnico, L Type Laminated, and Encapsulated magnets.
• Carpenter Technology Corp. - The company offers magnetic materials such as highly saturated magnets, high permeability magnets, magnetic iron, and corrosion-resistant magnets.
• For details on companies and their offerings – Buy the report!

By Geography, the market is classified as APAC, North America, Europe, South America, and Middle East and Africa. APAC will have the largest share of the market. APAC will contribute 45% to the growth of the global market during the forecast period. Countries like China, Japan, Australia, and India are the major contributors to the market growth in the region. Given the rapid industrialization in the region and substantial expansions in the automotive, industrial, energy, and consumer electronics industries in the region. Furthermore, factors like the steady rise in iron ore production and exports from Australia drives the regional market growth during the forecast period. Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.

• Impactful driver- Increased applicability of magnetic materials in the computer application industry
• Key Trend - AI simulations for magnetic material geometry designs
• Major Challenges - High R&D costs associated with magnetic materials

 Market Segmentation

• By Application, the automotive and transportation segment will be significant during the forecast period. The demand for unique automotive solutions fuels the development of advanced automotive magnets. Magnetic materials are increasingly used in vehicles such as electric vehicles (EVs), which use less fuel, produce fewer emissions, and are more advanced.

Technavio Research experts have provided more insights on the market share of segments - View a Free Sample Report

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TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US

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SOURCE Technavio