Magnetic powder is a fine powder containing pigment particles and mixture of iron particles This powder is capable of attracting ferrous material, hence used in various applications such as magnetic films, paints, printable substrate, fingerprinting, medical diagnostics, video tapes, fuel injectors, nano level fluid sealing, electronics, and bonded and permanent magnets. These powders are derived from three processes, viz. Water-atomized powder, gas-atomized powder, and naturally-mined magnetic powder. A few characteristic features of these powders include ability to glow under UV or black light, high corrosion resistance, less messy, easy to use, and reusable.
The global magnetic powder market can be segmented on the basis of color, form, and type. In terms of color, the magnetic powder market can be segmented into jet black, black, silver, gray, and white. Jet black type of magnetic powder provides excellent contrast and adherence. It is a popular magnetic powder available in the market. Its demand is estimated to rise significantly during the forecast period as it is used as coating on various surfaces such as polystyrene and aluminium. Furthermore, its usage in developing fresh fingerprints and shoe sole prints are also raising its demand in the market. Black magnetic powder provides less adherence as compared to jet black; however, it provides high effectiveness, typically on un-plasticized polyvinyl chloride (PVC) and untextured surfaces. Silver magnetic powder also provides high adherence, typically on dark surfaces and possess a risk of smearing a print, whereas gray magnetic powder possess low adherence and low smearing risk. White magnetic powder is typically employed on dark textured surfaces and is less sensitive than other powders. Magnetic powder are available either in amorphous and crystalline form. Demand for crystalline form is anticipated to rise significantly due its increasing applications in various end-use applications such as choke coils, powder inductors, printers, and reactors.
Rising demand for bonded and permanent magnets in the automotive and electronic industries is acting as a key driver for the global magnetic powder market. Magnetic powder, if employed during the manufacture of bonded or permanent magnets, provides high compaction and density properties. Additionally, it aids in lower ejection force requirement and springback, which further enhances the productivity of the magnet manufacturing process. Substitutes such as silk powder and aluminium powder, which are less expensive than magnetic powder, are likely to hamper the magnetic powder market during the forecast period. However, rising research activities in the field of hybrid magnetic powder are projected to generate significant opportunities for major manufacturers operating in the market.
In terms of geography, the global magnetic powder can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The U.S., and China, are the leading producer of magnetic powder. However, the U.S. is a leading consumer of magnetic powder due to increasing demand for electric and lightweight vehicles in the country. China and India are rapid developing economies and the expanding electronic and automotive industries in both countries are fuelling the magnetic powder market. Rising investment, typically in the automotive sector, in Latin America is also boosting the magnetic powder market. Middle East & Africa is a leading region in importing automobiles. Strong government initiatives to develop the automotive sector and strong emphasis on domestic automotive manufacturers to increase their productivity are anticipated to boost the global magnetic powder market during the forecast period.
Key players operating in the global magnetic powder market include EPSON ATMIX CORPORATION, Sirchie, BVDA International BV, and Reade International Corp.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.