Top Companies in Magnetic Materials Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Magnetic Materials Market is projected to reach a value of USD 38.7 Billion by 2028 at a CAGR of 5.5% over the forecast period.
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The Global Magnetic Materials Market is valued at USD 28.1 Billion in 2021 and is projected to reach a value of USD 38.7 Billion by 2028 at a CAGR of 5.5% over the forecast period.
The global Magnetic Materials Market is influenced by factors such as the rising demand for Magnetic Materials in the automotive and electronic sectors and the increase in demand for electric motors.
Across all nations, the usage of renewable energy sources has considerably increased. Additionally, due to the increased demand for electricity, there has been a rise in investments in energy-efficient power generation. However, the efficient operation of machinery, notably that used to produce electric power, air conditioning, transportation, and telecommunications, depends heavily on permanent magnets. Furthermore, to acquire a competitive advantage, big companies regularly refocus their efforts on creating unique products and improving their production capabilities in the magnetic material industry. Also, the development of Magnetic Materials with nanostructures is predicted to lead to novel applications that greatly expand the market for Magnetic Materials.
The Global market of Magnetic Materials is dominated by eminent players like Daido Steel Co. Ltd. (Japan), Hitachi Metals Ltd. (Japan), TDK Corp (Japan), Shin-Etsu Chemical Co. Ltd. (Japan), MolycorpMagnequench (Singapore), Lynas Corporation Ltd. (Malaysia), Arnold Magnetic Technologies Corporation (US), Electron Energy Corporation (US), and Tengam Engineering Inc. (US) among others. Additionally, the organizations are focusing on various inorganic growth techniques, such as joint ventures, mergers, and acquisitions. Further, it is anticipated that manufacturing investments in Magnetic Materials will increase the availability of Magnetic Materials in the upcoming years.
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Let’s Take a Look at the Top Market Players that are Captivating the Magnetic Materials Market
- Daido Steel Co. Ltd.(Japan)
Daido Steel Co. Ltd. produces and sells specialty steel goods for construction, automobiles, and electronics use. The business also creates several alloy metals and offers technical services for industrial furnaces and waste-disposal facilities.
- Hitachi Metals Ltd.(Japan)
Hitachi Metals Ltd. produces a variety of specialty steel and metal items, such as castings and wheels made of aluminum, magnetic and electronic materials and parts, and industrial machinery. Worldwide markets for the company's products include the computer, nuclear, aerospace, and automotive industries. The business is a division of Hitachi Ltd.
- TDK Corporation(Japan)
TDK Corporation manufactures electronic parts like ferrite cores and magnetic tapes. Additionally, the company sells semiconductors, sensors, LAN (Local Area Network) components, inductors, ceramic capacitors, magnets, transformers, and power supplies. TDK sells its goods all around the world.
- Shin-Etsu Chemical Co. Ltd.(Japan)
This Company manufactures and sells synthetic resins and other chemical goods, including fertilizers. The company also produces rare earth quartz, synthetic silicon, and other electrical materials. Operating both domestically and abroad is Shin-Etsu Chemical.
- MolycorpMagnequench(Singapore)
Operating as Neo Performance Materials, Molycorp, Inc. manufactures rare earth minerals. The business manufactures earth products such as metals, alloys, oxides, and magnets for use in different industries, including clean energy and the military.
- Arnold Magnetic Technologies Corporation(US)
Arnold Magnetic Technologies Corporation offers metal goods and services. The business provides engineering and design, magnetizing, fabrication services, and products made of samarium cobalt, ferrite, flexible magnets, and precision thin metals.
- Electron Energy Corporation(US)
This Company creates earth magnets. The business provides engineering, manufacturing, research and development, prototyping, and designing services. Electron Energy provides services to the automotive, medical, power generation, and defense industries worldwide.
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