Press release
Magnetic Alloys Market Segments, Opportunity, Growth and Forecast By End-use Industry 2018-2028
Magnetic alloys are materials capable of producing magnetic fields for long periods of time. Limited elements present in the earth's crust are capable of producing magnetic alloys with permanent magnetic properties at ambient temperatures. Elements such as iron, cobalt, nickel and rare earth metals are the major chemical elements used in the production of magnetic alloys. Magnetic alloys possess various useful properties, which enables their usage in a number of industries. They offer good resistance to corrosion and can be used in high temperature applications (up to 500oC). Magnetic alloys can be categorized into various types, depending on the type of element used in the magnetic alloy. Alnico magnetic alloys comprise elements such as iron, nickel, cobalt and aluminum and find applications in the aerospace industry, military and proprietary designs. Rare earth magnetic alloys comprise two of the most rare earth metals, i.e. samarium and neodymium. They consist of samarium cobalt and neodymium iron boron magnets. Neodymium magnetic alloys offer a wide operating temperature range of 80 – 200oC, depending on the application. Neodymium magnetic alloys are generally used in audio devices, motors for novelties and hard disc drives. Other magnetic alloys such as ceramic and bonded type are used in industries such as automotive and steel.Market Dynamics
Magnetic alloys find a wide range of applications in the electrical industry. Thus, the growth of the electrical industry is expected to be a key driving factor for the magnetic alloy market. Magnetic alloys are also extensively used in the steel industry and thus, the growth of the latter is expected to drive the sales of magnetic alloys. Some iron or neodymium magnetic alloys possess low coercivity, which in turn limits their applications to specific fields. The low cost of magnetic alloys is also expected to boost their sales in the market while their low coercivity is expected to hamper the market growth to some extent. Also, the demagnetization of magnetic alloys at higher temperatures is expected to limit the use of magnetic alloys for applications in the desired temperature range.
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China and India have shown appreciable growth in steel, automotive and electrical industries in the recent years. The growth of these industries is expected to aid the market growth of magnetic alloys in these countries. North America has also registered strong growth in steel and automotive industries in the recent years along with the growth of exports from the aerospace industry, which in turn is expected to drive the market for magnetic alloys. The electrical industry in Europe has reached a mature phase while the steel industry is exhibiting moderate growth. On the other hand, the automotive industry is still registering strong growth. These industries are expected to drive the market growth of magnetic alloys in Europe in their respective capacities.
The moderately growing steel and automotive industries in the Middle East and Africa region are expected fuel the market growth of magnetic alloys in the region to a certain extent. The market in Latin America, with the region's moderately growing automotive and steel industry, is expected to witness significant growth in the near future. Japan has a well-established electronic industry, which is expected to create a platform for the sales of magnetic alloys. The South East Asia region has moderately growing steel and automotive industries, which are aiding the the market growth of magnetic alloys.
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Market Participants
Examples of some of the participants involved in the magnetic alloys market include,
IUP Jindal Metals and Alloys Ltd
Arnold Magnetic Technologies
VDM Metals
Aperam S.A.
Hitachi Metals Ltd
Santoku Corporation
Electron Energy Corporation
PSM Industries, Inc.
Advance Metallurgical Group
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This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
Market Dynamics
Market Size
Market Segments
Demand & Supply Trends
Current Issues and Challenges
Companies and Competitor Landscape
Value Chain
Technology
Regional Segments Analyzed Include
North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
Elaborated scenario of the parent market
Transformations in the market dynamics
Detailed segmentation of the target market
Historical, current and forecast market size based on value and volume
Latest industry developments and trends
Competition landscape
Strategies adopted by the market players and product developments made
Potential and niche segments, along with their regional analysis
Unbiased analysis on performance of the market
Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
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