Magnetic Material Market Growth, COVID Impact, Trends Analysis Report Forecast to 2032

 The global magnetic material market stands at US$ 114.69 Bn as of now and is expected to reach US$ 297.07 Bn by the year 2032 at a CAGR of 9.3% between 2022 and 2032. Magnetic materials find their presence in transformer cores, motors, generators, electromagnets, magnetic separators, speakers, and microphones.

They do help in converting power from electrical to mechanical along with signal transfer, magnetic field screening, power adaptation, data storage (analog and digital), quantum devices, and permanent magnets (amongst others).

The government of the US has decided to take carbon emissions to ‘net zero’ by the year 2050. This is a factor driving the magnetic material market, as clean energy makes use of magnets as key components of wind turbine generators, transaction motors, and hybrid electric vehicles.

Soft magnetic materials are expected to stay as the quickest-growing sector in the next one year. This could be reasoned with the facts that they have high anisotrophy field, high coercivity, big hysteresis loop area, and huge magnetic field.

Magnetic Material Market: Competitive Evaluation

  • Arnold Magnetic Technologies
  • Hitachi Metals Ltd.
  • Molycorp Inc.
  • Electron Energy Corporation
  • Lynas Corporation Ltd.
  • Tengam Engineering Inc.
  • Adams Magnetic Products Co.
  • Hangzhou Permanent Magnet Group.
  • Shin-Etsu

Competitive Materials

  • Quadrant, in January 2022, did announce plan to build permanent magnets production plant in the US.
  • Electron Energy Corporation produces neodymium iron boron magnets that are known for having the highest magnetic energy. Also, the company is one of the preferred suppliers of ‘precision rotor assemblies’ for medical, defense, aerospace, and industrial markets. They extend support to customers with regards to initial considerations of design, qualifications, rapid prototyping, and production.
  • Tengam Engineering is a prominent leader when it comes to injection molded magnet vertical. It has been into operation since the last 40 years.

Get a Sample Copy of Report @ 
https://www.futuremarketinsights.com/reports/sample/rep-gb-466

Magnetic Material Market: Key Segmentation

By Metal Used

  • Neodymium
  • Aluminium Nickel Cobalt
  • Samarium Cobalt

By Magnet Type

  • Permanent
  • Electromagnet

By Application

  • Automotive
  • Medical Equipment
  • Energy & Power Generation
  • Consumer Goods & Electronics
  • Defence & Military Communication
  • Satellites & Space Missions
  • Industrial

How does the Report materialize?

  • The research study is based on metal used (neodymium, aluminum nickel cobalt, and samarium cobalt), by magnet type (permanent and electromagnet), by application (automotive, medical equipment, energy & power generation, consumer goods & electronics, defense & military communication, satellites & space missions, and industrial).
  • With realization of the fact that magnets are cost-effective and environmentally-friendly assets, the global magnetic material market is bound to grow on an astounding note in the upcoming period.

Browse latest Market Reports@ 
https://www.futuremarketinsights.com/category/chemicals-and-materials

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