Valley Cottage, NY -- (SBWIRE) -- 06/25/2020 -- Magnetic material are objects that can be magnetized or naturally hold magnetic properties. According to the ease of magnetization, magnetic materials can be classified into hard and soft. Hard magnetic materials retain their magnetism even in the absence of an applied magnetic field. Hard magnetic materials are difficult to magnetize and demagnetize. On the other hand, soft magnetic materials can be easily magnetized and demagnetized. They lose their magnetism when an external magnetic field is removed.

Demand for effective utilization of electricity and faster transmission of data, and decreasing size of technological devices have provided an impetus to the magnetic material market.

Magnetic Materials Market: Drivers & Restraints

Environmental concerns, government support & incentives, increasing demand from end use industries, such as demand in automotive industry for electric vehicles, demand in medical devices for body scanners and others are the driving factors for the growth of the magnetic material market. Additionally, rapid industrialization, specifically in emerging economies and demand for alternative power sources, such as water turbine and wind mill are also driving the demand for magnetic material market. However, the variation in the price of raw material can be a restraining factor in the growth of the magnetic material market.

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Magnetic Materials Market: Segmentation

On the basis of types, the global magnetic material can be broadly segmented into soft magnetic material and hard or permanent magnet. In 2014, permanent magnet accounted for more than fifty percent of market share of the global magnetic materials market in terms of volume.

On the basis of application, the global magnetic material market has largest applications in automotive, industrial and electronics segment. The automotive segment is projected to have the highest growth rate during the forecast period.

Magnetic Materials Market: Region-wise Outlook

In terms of region, Asia Pacific is anticipated to have an attractive growth for magnetic material market as various multinational companies shifting their manufacturing set-ups to this region. China has the highest automobile production rate according to the 2014 automobile production rate of OICA which, in turn, is a factor behind the growing demand of magnetic material market. China and India are projected to be the dominant countries for the global magnetic material market.

Magnetic Materials Market: Key Players

Some of the key players for magnetic material market are Arnold Magnetic Technologies, Hitachi Metals Ltd., Molycorp Inc., Electron Energy Corporation, Lynas Corporation Ltd., Tengam Engineering Inc. and many others.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.

The report covers exhaustive analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

Regional analysis includes

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa)

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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
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