Global Magnetic Material Market: Snapshot

Magnetic materials are usually objects that produces magnetic field. They consist of a wide range of materials that can be used in a number of applications extensively. Magnetic materials are usually put to use for producing and distributing electricity and are therefore an important part of different socio-economic factors at a global level.

One of the major factors for the growth of the magnetic materials is the rise in automotive industry. Adding to that, the rise in demand for electricity. In the past years, wind turbines were upgraded in order to make use of permanent magnetic generator or PMG systems. PMG systems were a substitute for gearboxes as they could produce electricity of their own. The use of magnetic materials in order to substitute electricity is also expected to fuel the growth of the magnetic material market in the long run.

There has been a recent demand for hybrid-electric vehicles or HEVs in the market. This is because HEVs or hybrid cars are both nature and pocket friendly and runs on very less fuel, thus using less of fossil fuels. The price of gasoline has also come down to lower prices. Not only that, these cars are built from lighter materials and they also require magnetic materials. Since HEVs are both cost efficient and environment friendly, there is more demand for these cars, thus, generating more demand for magnetic materials in the market. Thus, the market of these hybrid vehicles is likely to generate more demand for magnetic materials thus accelerating the global market for magnetic materials in the long run.

Magnetic materials are used in different types of automobile parts like switches, motors, actuators, and sensors. They are also being used in innovative products in electronic systems, and banking security systems in the form of smart electronic bank cards, and other antitheft articles. Magnetic materials are also used in other applications like for pollution control devices, alternators and also in gearboxes.

The global magnetic materials market is presumed to be worth US$87.18 bn within the forecast period of 2013 to 2019 with a CAGR of 8%.

Semi-Hard Magnetic Materials to Draw More Revenue Because of its Malleability

The global magnetic materials market is segmented into application, and product. Based on classification by application, magnetic materials are categorized into energy generation, electronics, and automotive. On the basis of product, the global magnetic materials market is divided into semi-hard, soft, and permanent magnetic materials. Soft magnetic materials are further sub-divided into electrical steel and soft ferrite while the permanent magnetic materials are further sub-categorized into Alnico, SmCo, NdFeB, and hard ferrite materials. Out of all these categories and sub categories, the market is seen to be generating more revenue from semi-hard magnetic materials. This is because of the worldwide demand for technological devices and systems that can be used to develop new products. Semi-hard magnetic materials are malleable and coercive and are therefore more preferred in making of automobile brakes.

Europe Having High Demand for Magnetic Materials due to Infrastructural Development

The global magnetic materials market is studied on the basis of key geographies Europe, North America, Asia Pacific and the Rest of the World. Among these, Asia Pacific is seen to be contributing more share to the market followed by Europe. Europe has a high demand for magnetic materials because of present and emerging applications of modern technology in infrastructure and travel like that of smart homes and smart cars.  Permanent magnets demand in the market is to make Asia Pacific the fastest growing region in terms of magnetic materials market in future.

Major companies in the global magnetic materials market are Electron Energy Corporation,  Molycorp Inc., Hitachi Metals, Ltd., Arnold Magnetic Technologies, and Lynas Corporation Ltd.

Magnetic materials are objects that naturally possess magnetic properties or can be magnetized. Based on their properties and end-use, these materials can be classified as permanent or temporary. Different types of magnetic materials such as soft, hard and semi-hard are used in the magnetic materials industry. Soft magnetic materials are further bifurcated into soft ferrite and electrical steel, while hard (permanent) magnetic materials are segmented into hard ferrite, NdFeB, SmCo, and alnico. These materials are used in various applications such as automotives, electronics and energy generation. 
 
Research methodology
 
We conducted in-depth interviews and discussions with numerous key industry participants and opinion leaders for the research report. Primary research represents the bulk research effort coupled with an extensive secondary research. We reviewed key players’ annual reports, product portfolio, press releases, and relevant documents for competitive analyses and better understanding of the market. Secondary research includes in-depth research on current trends, technical writing, recent trades, internet sources, trade associations, statistical data from government websites and associated authorized agency websites.
Secondary Research
 
Secondary research sources that are typically referred to include, but are not limited to:
  • Company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases, and webcasts specific to companies operating in the market
Primary Research
 
We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following functions:
  • Provides first-hand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies
 
The report on magnetic materials provides a detailed analysis and forecast of the market on a global as well as regional level from 2013 to 2019. On the global level, the market has been segmented based on volume (kilo tons) and revenue (USD million) from 2013 to 2019. For an in-depth understanding of the market on the regional level, demand has been forecast based on volume (kilo tons) and revenue (USD million) for a time period ranging between 2013 and 2019. The report includes drivers and restraints, and their impact on the growth of the market during the forecast period. Furthermore, the report encompasses opportunities available for growth of the market on the global as well as regional level.
 
We have included a thorough analysis of the value chain in order to provide a detailed understanding of the market. Additionally, we have included Porter’s Five Forces model, which provides an in-depth insight into the intensity of competition in the market. Furthermore, the study comprises a market attractiveness analysis, where numerous applications are benchmarked based on market size, growth rate and general attractiveness.  
 
The market has been segmented based on product and applications. Each such segment has been analyzed and forecast based on volume (kilo tons) and revenue (USD million) from 2013 to 2019. Additionally, the segments have been analyzed and forecast based on current trends at the global as well as regional level for the given time period. Geographically, the market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Demand has been analyzed and forecast based on the current trends for a period of six years. 
 
The study features profiles of companies such as A.K. Steel Holding Corporation, Arnold Magnetic Technologies, Electron Energy Corporation, Hitachi Metals, Ltd., Lynas Corporation Ltd. and Molycorp Inc. The market has been segmented as below:
 
Magnetic Materials Market - Product Segment Analysis
  • Soft magnetic materials
    • Soft ferrite
    • Electrical steel
  • Permanent magnetic materials
    • Hard ferrite
    • NdFeB
    • SmCo
    • Alnico
  • Semi-hard magnetic materials
Magnetic Materials Market - Application Analysis
  • Automotive
  • Electronics
  • Energy generation
  • Others (Including household applications, etc.)
Magnetic Materials Market - Regional Analysis
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)
.