Global Magnetic Materials Market Size By Type (Hard Magnetic Materials, Soft Magnetic Materials), By End-user (Automotive, Electronics, Power Generation, Industrial), By Geographic Scope And Forecast

Magnetic Materials Market Size And Forecast

Magnetic Materials Market size was valued at USD 105.21 Billion in 2021 and is projected to reach USD 240.47 Billion by 2030, growing at a CAGR of 12.53% from 2023 to 2030.

Major factors driving the market growth include the increasing global population, growing manufacturing activities, and rapid infrastructure development are driving the demand for magnetic materials in the power and energy sector. The semi-hard magnet is the fastest-growing type segment due to the increasing demand for technological devices and systems that provide innovative products. The Global Magnetic Materials Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Magnetic Materials Market Definition

Magnetic materials play a crucial role in advancing industrial and scientific advancements. They are widely used in various industries including power generation and transmission, electronics, medical devices, scientific instruments, and more. Functional magnetic materials, also known as smart magnetic materials of the future, possess unique physical properties that can be altered by external magnetic fields. These materials have a wide range of potential applications in information storage and processing, spintronics, drug delivery, and cooling technology, among others. Functional magnetic materials include colossal magnetoresistance manganites, high magnetocaloric materials, hexacyanide-based molecular materials, and magnetic nanoparticles.

Global Magnetic Materials Market Overview

The magnetic materials in the automotive sector are expected to increase during the forecast period and it is expected to be the fastest-growing and largest end-user industry. The growing use of magnetic materials in automotive applications, such as motors, compressors, anti-lock brake systems, and fuel injectors, is expected to drive the growth of the Magnetic Materials Market.

Think about electric motors – they're everywhere! You see them in electric vehicles, all sorts of consumer electronics, and even super important medical equipment. And guess what? As we need more and more electric motors in things like hemodialysis machines, pumps, respirators, and scanners, we're going to need a lot more of those magnetic materials that make them work. Plus, the government's getting involved with initiatives like IPDS and DDUGJY to boost power generation. That means even more demand for motors, which, you guessed it, means even more demand for magnetic materials. So, all in all, it looks like the Magnetic Materials Market is set to grow pretty nicely!

Think about it – magnets are everywhere! We use magnetic materials for all sorts of things, from keeping our money safe in banking security systems to powering the electronic systems in our smart bank cards and even those anti-theft tags on clothes. They also play a role in pollution control devices, not to mention gearboxes and alternators. All this demand helps the Magnetic Materials Market grow! But, there's a catchif the price of the magnetic raw materials used to make these magnets starts bouncing around, it can cause trouble. Those price changes can mess up the supply chain and make things tough for the companies in the market, which could slow down the Market's overall growth.

Global Magnetic Materials Market Segmentation Analysis

The Global Magnetic Materials Market is segmented on the basis of Type, End-user, And Geography.

Magnetic Materials Market, By Type

• Hard Magnetic Materials
• Soft Magnetic Materials
• Semi-Hard Magnetic Materials

Based on Type, the market is segmented into Hard Magnetic Materials, Soft Magnetic Materials, and Semi-Hard Magnetic Materials. The demand for soft magnetic materials is growing quickly due to their small hysteric loops and superior magnetic properties, such as high initial permeability, low remnant magnetization, and low coercivity. These materials also minimize hysteresis and eddy current losses, leading to a surge in demand and contributing to the growth of the Soft Magnetic Materials Market segment.

Magnetic Materials Market, By End-user

• Automotive
• Electronics
• Power Generation
• Industrial
• Others

Based on End-user, the market is segmented into Automotive, Electronics, Power Generation, Industrial, and Others. The automotive segment has a significant market share and is a major contributor to the growth of the Magnetic Materials Market. The ongoing investment by the automotive industry and the associated growth opportunities are driving the rapid growth of the Magnetic Materials Market.

Magnetic Materials Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

So, where are magnetic materials being used around the globe? Well, geographically speaking, the market is broken down into North America, Europe, Asia Pacific, and, of course, the Rest of the World. North America is anticipated to be the big player, thanks to its established manufacturing and strong local demand – particularly from the automotive and electronics sectors. But don't count out Asia Pacific! It's shaping up to be the fastest-growing market, driven by a need for better medical stuff like MRI machines, plus technological advancements, an increasing number of people getting sick, and a booming automotive industry. Also, new processing techniques – think friction consolidation extrusion – are really expected to boost growth in the Asia Pacific Magnetic Materials Market.

Key Players

The “Global Magnetic Materials Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Hitachi Metals Co. Ltd, Daido Steel, Arnold Magnetic Technologies, Lynas Corporation, and Shin-Etsu Chemical.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Magnetic Materials Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the global Magnetic Materials Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

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Reasons to Purchase this Report

We dig deep into the market using both numbers and less tangible things like consumer behavior to understand different groups of customers. You'll get market size data (in USD Billion!) for every slice of the market, big or small. We'll point out which regions and segments are likely to grow the fastest and be the biggest. Our geographical analysis shows where products/services are being used most, and why each region is different. We'll map out the competitive scene, ranking the big players and noting new product launches, M&A, and partnerships from the last five years. Expect detailed company profiles with overviews, insights, product comparisons, and SWOT analyses for the major companies. We'll give you a view of where the market is now and where it's heading, considering recent events, opportunities, challenges, and roadblocks in both new and established areas. We offer a thorough analysis using Porter's Five Forces, a peek into the value chain, and explore market dynamics with a look at future growth opportunities. Plus, you get 6 months of analyst support after your purchase!

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