Los Angeles, CA -- (SBWire) -- 06/03/2019 --Alnico belongs to the group of permanent (hard) magnets primarily composed of aluminum, nickel and cobalt. They are hard ferromagnetic substances which are widely used in temperature sensitive applications such as hall-effect and MR-based electronic and automotive sensors.They are also known as composite magnets which are usually manufactured from sintering or casting offering superior mechanical characteristics. Alnico magnets are made from the combination of aluminum, nickel and cobalt with small amounts of iron and other small elements that improve the property of the magnet.

The global market for alnico has been witnessing significant growth owing to rapid expansion of the automotive industry. Alnico magnets are majorly used in several components of an automobile including exhaust systems and sensors among others. Asia Pacific accounted as the largest market for alnico magnets, which was majorly supported by China, followed by several regions in Rest of the World (RoW) such as Latin America and Middle East. After the global economic slowdown in 2008-09, the manufacturing industry in North America has been slowly gaining pace. Alnico magnets are being increasingly implemented in electric motors and various sound reproductive systems such as microphones and loudspeakers. However, over the years, the industry for alnico magnets in this region has been noticeably saturated due to increasing consumption of NdFeB magnets. These magnets have been increasingly superseded by rare earth magnets such as NdFeB as well as ferrite in different automotive and electronic equipments, resulting in low demand from retail and manufacturing companies. However, alnico magnets cannot be replaced completely by rare earth elements due to their wide temperature range and stability. Thus, besides the automotive industry, growing demand for electric motors and sound systemshas been strongly contributing towards the growth of the alnico market.Moreover, rapid growth of industrial activities in emerging regions such as Asia Pacific has resulted in growth of various application sectors such as healthcare, electronics and power generation among others, which in turn is expected to contribute towards the demand for alnico magnets in Asia Pacific over the forecast period.

Increasing demand for alnico magnets on account of growth of the automotive industry is expected to be one of the vital factors driving the demand for alnico magnets over the forecast period. Rise in disposable income, improved infrastructure and increasing population are some of the factors driving the demand for automobiles.Moreover, increasing use of alnico magnets in temperature sensitive applications owing to growing industrialization and electronics industry is also expected to contribute towards the growth of the market. However, increasing substitution of alnico magnets by rare earth magnets such as NdFeB on account of larger energy products and stronger magnetic fields, allowing smaller size magnets to be used for a given application is expected to hamper the growth of the market. Increasing application scope of alnico magnets in HEVs coupled with growing demand for these vehicles is expected to open opportunities for the growth of the market over the next few years.

The global Alnico Magnets market was xx million US$ in 2018 and is expected to xx million US$ by the end of 2025, growing at a CAGR of xx% between 2019 and 2025.

This report studies the Alnico Magnets market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Alnico Magnets in these regions, from 2014 to 2025, covering

North America (United States, Canada and Mexico)

Europe (Germany, UK, France, Italy, Russia and Turkey etc.)

Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)

South America (Brazil etc.)

Middle East and Africa (Egypt and GCC Countries)

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The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include

Arnold Magnetic Technologies

Adams Magnetic Products

Stanford Magnets

Master Magnetics

Eneflux-Armtek Magnetics

Hitachi Metals

By the product type, the market is primarily split into

Cast Alnico

Sintered Alnico

Bar Alnico

By the end users/application, this report covers the following segments

Electronics

Automotive

Aerospace

Wind Energy

Medical Device

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