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Magnetic Materials Market Size, Trends, Revenue Share Analysis, Forecast, 2020–2027

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Magnetic Materials Market Size, Trends, Revenue Share Analysis, Forecast, 2020–2027

The global magnetic materials market is forecast to reach USD 143.87 Billion by 2027, according to a new report by Reports and Data. The global magnetic materials market demand is anticipated to augment on account of the increasing need for power generation and miniaturization devices like generators in the wind and hydro-powered turbines over the forecasted period. In addition, the industry is expected to be driven by the growing automotive industry, which uses magnets in various components such as pollution control, alternators, and gearbox. However, volatile prices of rare-earth metals, including samarium, dysprosium, and neodymium used in the production of magnetic materials, are expected to act as a key market restraint. The rise in application range owing to the development of new technologies is anticipated to open new avenues for the global magnetic materials sector over the forecasted period.

The Magnetic Materials market investigation report assesses the global market for the Magnetic Materials industry and provides revenue and capability forecasts for the projected period of 2021-2028. The factors that drive the industry's growth are highlighted in the report. The report divides the Magnetic Materials market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and size, geographic presence, and development and manufacturing capabilities.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3247

Market Dynamics:

The materials and chemicals industry is rapidly gaining traction over the forecast period and is expected to expand significantly in the coming years. Technological advancements and rising innovation are key factors boosting global market growth. The global Magnetic Materials Market is projected to register robust revenue CAGR during the forecast period between 2021 and 2028. Increasing awareness about green energy and eco-friendly biodegradable products, environmental impact due to carbon emissions are few key factors supporting market growth. High demand for various chemicals and raw materials in various industrial sectors such as food and technology, pharmaceutical and biotechnology, manufacturing, paint and coating, paper, plastic among others. In addition, increasing research and development activities, growing demand for products like perfumes, soaps and detergents for daily usage along with rising disposable income across the globe are further boosting market growth.

Leading companies operating in the market and profiled in the report include: Hitachi Metals, Ltd., Daido Steel Co., Ltd, Molycorp Magnequench, Shin-ETSU Chemical Co., Ltd., TDK Corporation, Lynas Corporation Ltd., Arnold Magnetic Technologies Corporation, Electron Energy Corporation, Tengam Engineering, Inc., and Adams Magnetic Products Co., Inc. among others. 

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Magnetic Materials Market Segmentation:

Type  Outlook (Revenue, USD Billion; 2017-2027)

  • Hard/Permanent Magnet
  • Semi-Hard Magnet
  • Soft Magnet

Application Outlook (Revenue, USD Billion; 2017-2027)

  • Transformers
  • Motors
  • Inductors
  • Generators

 End-User Outlook (Revenue, USD Billion; 2017-2027)

  • Automotive
  • Electronics & Telecommunications
  • Industrial
  • Power Generation
  • Others

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Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.

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