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Magnetic Materials Market

09-21-2018 12:23 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Magnetic materials possess magnetic properties and have ability to produce the magnetization. They can be magnetized or naturally possess magnetic properties. According to ease of magnetization, magnetic materials are classified as hard, semi-hard, and soft magnets. Hard magnetic materials are suitable for permanent magnets while soft for temporary.

Soft magnetic materials are used in high and low-frequency applications such as transformer cores, microwave applications, and recording heads. Magnetic materials ranging from hard and soft are extensively used as recording media. Rapid industrialization, specifically in emerging economies such as India and China, demand for alternative power sources, such as windmill and water turbine are driving growth of the magnetic material market.

major driver for growth of the global magnetic materials market is the growing automobile industry. The shift from the conventional fuel vehicles towards electric vehicles is a major factor fueling market growth. According to International Energy, over 750 thousand sales were registered for electric cars in 2016. Automotive manufacturers are shifting towards the magnetic motors system.

Key players operating in the global magnetic materials market include Arnold Magnetic Technologies Corporation, Daido Steel Co. Ltd., Dexter Magnetic Technologies, Hitachi Metals Ltd., GKN Plc., Molycorp Inc., Shin-ETSU Chemical Co., Ltd., Electron Energy Corporation, Lynas Corporation Ltd., TDK Corporation, and Tengam Engineering Inc.

Players are focused on developing magnetic materials for innovative applications. For instance, new ferrite material was introduced by Dexter Magnetic Technologies in June 2018, to support applications in harsh environments, where high ambient temperatures and wide temperature fluctuations are expected.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154
Tel: +1-206-701-6702

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