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Alnico Magnets Market Trends 2025 | Dexter Magnetic Technologies Inc., Hitachi Metals Ltd., Molycorp Inc.

04-05-2019 11:26 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: TMR Research

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Alnico Magnets Market Trends 2025 | Dexter Magnetic

Global Alnico Magnets Market: Snapshot

The global market for alnico magnets is predicted to grow at a substantial pace over the next few years, due to the rising number of applications across diverse industries. As alnico magnets are considered as one of the best options for permanent magnets, they are being used extensively in the automotive industry across the globe. The prominent players operating in the global alnico magnets market are making notable efforts to offer innovations and advancements to the product in order to expand their application base in the next few years.

The increasing demand for alnico magnets from medical devices, automobiles, household equipment, electronic products, electricity generation, and other sectors is projected to encourage the growth of the global alnico magnets market throughout the forecast period. In addition to this, the rising awareness among consumers regarding the use of alnico magnets in accordance with the rising environmental concerns is predicted to generate several growth opportunities for the key players operating in the alnico magnets market across the globe.

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The rapid development of the manufacturing sector in China is expected to result in a promising growth of the alnico magnets market in this nation. Moreover, the flourishing automotive sector in several emerging nations in Asia Pacific is projected to encourage the growth of the alnico magnets in the next few years. Furthermore, the rising level of competition among the leading players in terms of product portfolio, innovations, and technological developments is projected to contribute towards the overall development of the overall market in the coming few years.

Global Alnico Magnets Market: Drivers and Restraints

The incessant development of the automotive industry due to the increasing population and technological advancements is favoring the growth of the alnico magnets market. Alnico magnets are extensively used in the automotive industry across a range of applications such as economy and pollution control. Components such as alternators, motors, and gearbox require alnico magnets to carry out their mechanism. Alnico magnets are utilized in battery components, moving car parts, engine components, and other integral systems.

In addition, alnico magnets are one of the most vital components in electric motors and are used in exhaust gas recirculation (EGR) systems that help reduce NOx emissions. Most automotive engines and electric motors use alnico magnets as they are highly coercive in nature. Moreover, alnico magnets are used in the stator of the wind turbine for producing AC electricity.

The rising environmental concerns and depleting conventional sources of energy have led to the increasing use of renewable energy sources such as wind energy and solar energy. This has favored the growth of the global alnico magnets market. Furthermore, hybrid electric vehicles are expected to present new growth opportunities to the global alnico magnets market during the forecast period.

Global Alnico Magnets Market: Regional Outlook

China displayed the highest demand for alnico magnets in 2013 and held a major share of the global market. The flourishing automotive industry due to the increasing population and economic growth is favoring the growth of the alnico magnets industry in China. Asia Pacific (excluding China) stood as the second largest region in the global alnico magnets market in the same year due to the growth of the wind power industry. However, North America and regions contributed thinly to the global alnico magnets due to the non-availability of rare earth elements.

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Major Companies Mentioned in Report

Some of the leading players in the global alnico magnets market are Adams Magnetic Products Co, Dexter Magnetic Technologies Inc., Hitachi Metals Ltd., Molycorp Inc., Shin-Etsu Chemicals Co. Ltd., Vacuumschmelze GmbH & Co., Arnold Magnetic Technologies, Electron Energy Corporation, Lynas Corporation Ltd., OM Group, and Tengam Engineering Inc. among others.

About TMR Research
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

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