Global Magnetic Materials Market – Industry Trends and Forecast to 2029

Global Magnetic Materials Market, By Type (Semi-Hard Magnet, Soft Magnet, Hard/Permanent Magnet), Application (Automotive, Electronics, Industrial, Power Generation and Others) – Industry Trends and Forecast to 2029.

Magnetic Materials Market Analysis and Size

The increasing global population, growing manufacturing activities and rapid infrastructural developments increase the demand of magnetic materials in the power and energy sector globally. The “semi-hard magnet “is the highest growing type segment due to global demand for technological devices and systems that provide innovative products. Also, growing investments in medical equipment production are propelling the manufacturing of motors, transformers, electric vehicles manufacturing, power transmission sector, and generators are expected to boosting the demand for magnetic materials globally during the forecast period of 2022-2029.

Data Bridge Market Research analyses that the magnetic materials market is expected to undergo a CAGR of 9.65% during the forecast period. This indicates that the market value, which was USD 105.26 billion in 2021, would rocket up to USD 219.96 billion by 2029.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Magnetic Materials Market Scope and Segmentation

Market Definition

Magnetic materials are those materials which is used mainly due to magnetic properties. The magnetic response of a materials is mainly analysed by the magnetic dipole moment which has  associated with the spin, of its electrons or intrinsic angular momentum. Furthermore, Materials which are attracted by a magnet are called magnetic materials. For instance, nickel, Iron, cobalt, etc.

Global Magnetic Materials Market Dynamics

Drivers

• Rising demand of magnetic material in automotive sector

The demand of magnetic material increases in automotive sector. During the forecast period, the automotive sector is projected to be the fastest-growing and largest end-user industry in the magnetic materials market. The major automotive applications include, motors, compressors, anti-lock brake systems, fuel injectors and other rotating devices, among others which are expected to drive the growth rate of the magnetic materials market.

• Increasing  demand of electric motors

Electric motors find many applications in numerous end-use industries included, electric vehicles, electric transmission, consumer electronics and medical equipment. In the manufacturing of medical devices and equipment such as hemodialysis machines, high-quality pumps, infusion pumps, compressors, respirators, centrifuges, scanners, and others used electric motors. The rising demand of electric motor in medical devices and many other equipment’s are expected to increase the demand of magnetic materials and drive the market growth rate.

• Government initiatives for increasing the power generation capacity

The government has started some initiatives such as IPDS, DDUGJY and progressive measures for increasing the power generation capacity and improving distribution which is further projected to increase motors demand and ultimately increase the demand of magnetic materials in the forecast period of 2022-2029.

• High usage in electronic and security system

Magnetic materials are also being used in banking security systems and electronic systems in the form of smart electronic bank cards, and many other antitheft articles. Magnetic materials are also used in many other applications such as pollution control devices, gearboxes and alternators.

Opportunities

• Increase in investments by major market players

The growing investments by major market players further offer the numerous growth opportunities within the market. For instance, Hydro-Québec declared an investment in July 2019 for securing the growth of Dana TM4 in the electric powertrain industry. Dana TM4 is a joint venture company which has focussed on manufacturing and designing electric motors.

• Increase focus towards expansion

The major companies are generally shifting their focus towards developing new and innovative products and growing their production capacities into the magnetic material market to attain a competitive advantage. The development of nano-structured magnetic material is expected to come up with new applications which will create immense opportunities in magnetic materials market.

Restraints/Challenges

• High Cost associated with the magnetic raw material

The growth of the magnetic materials market is expected to be hindered by the unexpected fluctuations in the prices of magnetic raw material. As a result, it disrupted the supply chain of magnetic raw materials and pose a challenge for the major market players. 

This magnetic materials market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the magnetic materials market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Magnetic Materials Market

The outbreak of COVID-19 pandemic has adversely affected several markets including magnetic materials, in terms of supply and demand. However, the pandemic has also increased the demand for medical equipment such as ventilators, which increase the use of motors for proper control, regulated airflow, high torque density and less noise. The spread of coronavirus upsurge the demand of ventilators due to increase in the number of patients in the globe, which is expected to rise the demand for motors and eventually increase the magnetic materials market growth.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Magnetic Materials Market Scope

The magnetic materials market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Semi-Hard Magnet
• Soft Magnet
• Hard/Permanent Magnet

Application

• Automotive
• Electronics
• Industrial
• Power Generation
• Others

Magnetic Material Market Regional Analysis/Insights

The magnetic materials market is analysed and market size insights and trends are provided by country, type and application as referenced above.

The countries covered in the magnetic materials market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the magnetic materials market in the forecast period due to rising electronics, automotive and telecommunications industries in this region on a wide range.

North America and Europe are expected to be the fastest developing region during the forecast period of 2022-2029 due to the availability of cheap labour force coupled with a goal to target untapped market areas of this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Magnetic Materials Market Share Analysis

The magnetic materials market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to magnetic materials market.

Some of the major players operating in the magnetic materials market are:

• SG Technologies (U.K.)
• VACUUMSCHMELZE GmbH & Co. KG (Germany)
• Steward Advanced Materials LLC. (U.K.)
• MATE CO., LTD (Germany)
• KN Powder Metallurgy (Germany)
• Hitachi Metals, Ltd (Japan)
• Sintex (Denmark)
• Toshiba Materials Co Ltd, (Japan)
• AMES (Spain), Daido Steel (Japan)
• Fluxtrol Inc, (U.S.)
• FJ Industries A/S (Denmark)
• Arnold Magnetic Technologies (U.S.)
• voestalpine High Performance Metals GmbH (Austria)
• BMW AG (Germany)
• FCA US LLC (U.S.)