The Global Magnetic Materials Market is expected to reach a CAGR of 9.3 between 2022 and 2032. Magnets are now used in all areas of industry. The microphones we use for electric motors in cars are all derived from magnets.
For example, MRI, now widely used in the medical industry, called Magnetic Resonance Imaging, uses powerful magnets combined with radio waves to diagnose a variety of conditions inside the body.
In its latest report, ESOMAR-certified market research firm Future Market Insights offers an extensive study on the market for Magnetic Material. FMI provides a new study to elucidate the potential growth parameters of the Magnetic Material market. On the back of prevailing trends FMI presents a positive growth outlook.
The report is intended to present an unbiased analysis. It therefore offers incisive coverage on key market dynamics, including drivers, restraints, opportunities, and challenges. It also offers detailed information on Magnetic Material market structure.
Impact of COVID-19 on Magnetic Material Market
The pandemic has placed an enormous strain on the chemicals & materials industry including its workforce, supply-chain, infrastructure, and market players. The first wave of COVID-19 that hit the regions across the globe, compelled the chemicals & materials industry to adapt and develop its infrastructure and innovate in a short period of time. Against this backdrop, FMI tracks the changes, improvement, profits and losses in the industry among the existing players as well as the new entrants within the industry.
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Magnetic Material Market: Key Segmentation
By Metal Used
- Neodymium
- Aluminium Nickel Cobalt
- Samarium Cobalt
By Magnet Type
- Permanent
- Electromagnet
By Application
- Automotive
- Medical Equipment
- Energy & Power Generation
- Consumer Goods & Electronics
- Defence & Military Communication
- Satellites & Space Missions
- Industrial
Magnetic Material Market: Competitive Evaluation
The FMI’s Magnetic Material market report provides a comprehensive analysis on key players operating in the Magnetic Material market. Some of the key players are:
- Arnold Magnetic Technologies
- Hitachi Metals Ltd.
- Molycorp Inc.
- Electron Energy Corporation
- Lynas Corporation Ltd.
- Tengam Engineering Inc.
- Adams Magnetic Products Co.
- Hangzhou Permanent Magnet Group.
- Shin-Etsu
With a detailed analysis on positioning of top companies across the globe, emerging players, strategic players and innovators, the FMI’s study presents the strengths, weaknesses, growth prospects and challenges of key players over the forecast period.
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