Magnetic Plastics Market 2022 - Competitive Analysis and Development Forecasts to 2028

A magnet is a material that produces a magnetic field. Plastic refers to a material that consists of a wide range of synthetic and semi-synthetic compounds, which are malleable and can easily be molded into solid objects. A magnetic plastic is a non-metallic magnet which is made from an organic polymer. Magnetic plastics are less dense and are used in the applications where weight is a major concern. They have superior cost-performance ratio and can be produced in multifarious shapes and sizes.

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There is a huge demand for magnetic plastics in the consumer market because of its low price and size availability. Thus magnetic plastics find its application in the production of mobile phones, computers, and generators, and this factor drives the growth of magnetic plastics market. Some advantages, like reducing the overall weight, costs, and resistance to corrosion, are also responsible for driving the growth of the market. However, the high price of neodymium metal used in the production of neodymium-iron-boron based magnetic plastics restricts the fruitful development of the magnetic plastics market. Development of a new type of magnetic plastic made up of organic polymer with the absence of metallic components is anticipated to bode well the growth of the magnetic plastics market in the near future.

MARKET SCOPE

The "Global Magnetic Plastics Market Analysis to 2028" is a specialized and in-depth study of the chemical and material industry with a special focus on the global market trend analysis. The report aims to provide an overview of the magnetic plastics market with detailed market segmentation by material, application and geography. The global magnetic plastics market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading magnetic plastics market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global magnetic plastics market is segmented on the basis of material, application and geography. On the basis of material the market classify into ferrous bonded and ndfeb boned. As per application the market is broken into electrical & electronics, packaging & labeling, healthcare devices and others.

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REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The magnetic plastics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the magnetic plastics market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the magnetic plastics market in these regions.

MARKET PLAYERS

1.3M Company
2.ALL Magnetics Inc.
3.Arnold Magnetic Technologies Corp.
4.Daido Steel Co. Ltd.
5.Ferrite Bonded Magnetic Plastics
6.General Electric Company
7.Hitachi Metals, Ltd.
8.Kolektor Magnet Technology GmbH
9.TDK Corporation
10.Vacuumschmelze GmbH and Co. KG

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This release was published on openPR.