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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Definition of Market/Industry:

Magnetic materials are materials that produce magnetic fields and are used in the production and distribution of electricity. They are also used in modern electrical engineering and electronics components. Magnetic materials are widely used across automotive, electronics, industrial, power generation, and other end-user industries.

The global magnetic materials market is estimated to be valued at US$ 103,486.7 million in 2021 and is expected to exhibit a CAGR of 8.9 % over the forecast period (2021-2028).

Recent Developments:

In March 2019, Arnold Magnetic Technologies, a global manufacturer of rare earth magnets, magnetic assemblies, and precision thin metals, has opened a research and development facility at the MGE Innovation Center in Madison, WI

In May 2019, Rare earths producer Lynas Corp announced that it has signed a memorandum of understanding with Texas-based Blue Line Corp to set up a rare earths separation facility in the United States.

Asia Pacific held dominant position in the global magnetic materials market in 2020, accounting for 76.12% share in terms of value, followed by Europe and North America, respectively. Asia-Pacific is the largest and fastest-growing market for magnetic materials owing to high demand from major markets, such as China, India, and Japan. The growing automotive industry in the region is also driving the market for magnetic materials.

Figure 1. Global Magnetic Materials Market Value (US$ Mn), by Region, 2020

Magnetic Materials  | Coherent Market Insights

Drivers:

Robust growth in the automotive industry due to the increasing production of automobiles is primarily fueling the market growth of the magnetic materials. Magnetic materials such as soft magnets and hard magnets are widely used in the automotive industry. They are used in motors, alternators, and gearboxes as they require permanent magnets in their mechanism. Moreover, large magnets especially NdFeB and ferrite are used in the moving car parts, engine components, and battery components.

Increasing investment in the development of high-speed locomotive systems that employs electromagnets are projected to foster market growth. Moreover, the development and modernization of infrastructures coupled with the increasing use of permanent magnets in the motors of train doors and lift doors are again propelling the market growth of the magnetic materials. All these factors are projected to accelerate the market growth of the magnetic materials over the forecast period. 

Market Opportunities

The growing demand for magnetic materials in hybrid electric vehicles (HEVs) is expected to bring new market opportunities over the forecast period. Magnetic materials are widely used in the development of hybrid electric vehicles. Thus, increasing the penetration of hybrid electric vehicles is projected to foster market growth. According to the Bureau of Transportation Statistics, Plug-in hybrids and all-electrics combined accounted for 2.1% of the light vehicle market in 2019.

High demand for the electrical & electronics products is expected to offer lucrative growth opportunities over the forecast period. Increasing use of electronic and electrical appliances among the consumer due to increasing disposable income and growing penetration of the internet around the globe is again projected to foster the demand for electrical & electronics products. This is in turn is expected to propel the market growth of the magnetic materials over the forecast period. 

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Magnetic Materials Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 103,486.7 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR:

8.9%

2028 Value Projection: US$ 188,569.6 Mn
Geographies covered:
  • Regions: North America, Europe, Asia Pacific, Middle East, Africa, and Latin America
Segments covered:
  • By Product type: Soft Magnetic Materials, Permanent Magnetic Materials, & Semi-Hard Magnetic Materials
  • By Application: Automotive, Electronics, Energy generation, & Others
Companies covered:

AK Steel Holding Corporation, Arnold Magnetic Technologies, Electron Energy Corporation, Hitachi Metals, Ltd., Lynas Corporation Ltd., Molycorp Inc., OM Group, Shin-Etsu Chemicals Co., Ltd., Tengam Engineering Inc., and TDK Corporation

Growth Drivers:
  • Growing demand from automotive industry
  • Increasing investment in the high-speed locomotive device 
Restraints & Challenges:
  • High investment require for R &D 

Market Trends

The expansion of the telecommunication industry due to growing investment and population is projected to positively impact the market growth of the magnetic materials. Increasing urban population and improving standard of living of consumers is again projected to propel the market growth of the magnetic materials. According to the United Nations, in 2018, 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050.

Increasing investment by key manufacturers in the development of magnetic materials is positively shaping the industrial growth. For instance, in September 2018, SHEENSENS MAGNETICS announced that it is investing 200 million yuan to expand the production capacity of NdFeB magnetic materials. At present, the Sheensen NdFeB magnetics material has an annual production capacity of 1,800 tons.

Figure 2. Global Magnetic Materials Market Share, By Product Type, 2020

Magnetic Materials  | Coherent Market Insights

Key Takeaways of the Graph:

  • The Semi-Hard Magnetic Materials held dominant position in the market and accounted for 35.96% share in the global magnetic materials market in 2020. The segment is expected to reach US$ 65,485.5 million in 2028.
  • The market is dominated by semi-hard magnet owing to global demand for technological systems & devices providing innovative products. Some of the related products are antitheft articles, electronic systems, automotive devices, and smart electronic bank cards.

Market Restraints

Huge investment in R&D is expected to negatively affect the market growth of the permanent magnets. These factors impede the development of innovative products thus hindering the market growth of the magnetic materials over the forecast period.

The slowdown of the economy due to the COVID- 19 pandemic is projected to hamper the demand and supply of the products. This is expected to inhibit the market growth of the magnetic materials over the forecast timeframe.

Competitive Section:

Company Names 

  1. AK Steel Holding Corporation
  2. Arnold Magnetic Technologies
  3. Electron Energy Corporation
  4. Hitachi Metals, Ltd.
  5. Lynas Corporation Ltd.
  6. Molycorp Inc.
  7. OM Group
  8. Shin-Etsu Chemicals Co., Ltd.
  9. Tengam Engineering Inc.
  10. TDK Corporation

Magnetic materials are used all over the world for a variety of purposes. Some materials have the property to retain different shapes when they are exposed to an alternating magnetic field. These materials can be used in mechanical and electrical engineering to create anisotropic, non-permanent magnetic structures which are very important in the aerospace industry. The materials also perform well in resisting impact, heat, and even heat damage. The materials also provide an efficient energy source through their ability to store electrical energy and convert it directly into mechanical energy.

Market Dynamics:

Rapid growth in the automotive industry is driving growth of the magnetic materials market. Increasing penetration of electric vehicles is also fostering growth of the market. Growing usage of electrical &electronics is further projected to augment growth of the magnetic materials market. According to European Union, in 2019, electric car registrations were close to 550 000 units, having reached 300 000 units in 2018. This represents an increase from 2 to 3.5 % of total car registrations. The uptake of electric vans also increased, from 0.8 % of total registrations in 2018 to 1.3 % in 2019.

On the other hand, the high investment required for R&D is expected to hinder growth of the magnetic materials market.

Key features of the study:

  • This report provides in-depth analysis of the magnetic materials market, and provides market size (US$ Million & KiloTons) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global magnetic materials market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include AK Steel Holding Corporation, Arnold Magnetic Technologies, Electron Energy Corporation, Hitachi Metals, Ltd., Lynas Corporation Ltd., Molycorp Inc., OM Group, Shin-Etsu Chemicals Co., Ltd., Tengam Engineering Inc., and TDK Corporation
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global magnetic materials market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global magnetic materials market

Detailed Segmentation:

  • Global Magnetic Materials Market, By Product Type:
    • Soft Magnetic Materials
    • Permanent Magnetic Materials
    • Semi-Hard Magnetic Materials
  • Global Magnetic Materials Market, By Application:
    • Automotive
    • Electronics
    • Energy generation
    • Others
  • Global Magnetic Materials Market, By Region:
    • North America
      • By Product Type
        • Soft Magnetic Materials
        • Permanent Magnetic Materials
        • Semi-Hard Magnetic Materials
      • By Application
        • Automotive
        • Electronics
        • Energy generation
        • Others
      • By Country
        • Canada
        • U.S.
    • Europe
      • By Product Type
        • Soft Magnetic Materials
        • Permanent Magnetic Materials
        • Semi-Hard Magnetic Materials
      • By Application
        • Automotive
        • Electronics
        • Energy generation
        • Others
      • By Country
        • U.K.
        • France
        • Germany
        • Rest of Europe
    • Asia Pacific
      • By Product Type
        • Soft Magnetic Materials
        • Permanent Magnetic Materials
        • Semi-Hard Magnetic Materials
      • By Application
        • Automotive
        • Electronics
        • Energy generation
        • Others
      • By Country
        • China
        • India
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Latin America
      • By Product Type
        • Soft Magnetic Materials
        • Permanent Magnetic Materials
        • Semi-Hard Magnetic Materials
      • By Application
        • Automotive
        • Electronics
        • Energy generation
        • Others
      • By Country
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • By Product Type
        • Soft Magnetic Materials
        • Permanent Magnetic Materials
        • Semi-Hard Magnetic Materials
      • By Application
        • Automotive
        • Electronics
        • Energy generation
        • Others
      • By Region
        • Middle East
        • Africa
  • Company Profiles
    • AK Steel Holding Corporation *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Arnold Magnetic Technologies
    • Electron Energy Corporation
    • Hitachi Metals, Ltd.
    • Lynas Corporation Ltd.
    • Molycorp Inc.
    • OM Group
    • Shin-Etsu Chemicals Co., Ltd.
    • Tengam Engineering Inc.
    • TDK Corporation

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, Product Type
      • Market Snippet, Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • PEST Analysis
      • PORTER’s Five Forces Analysis
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
  4. Global Magnetic Materials Market - Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Magnetic Materials Market – COVID-19
    • Impact Analysis
  5. Global Magnetic Materials Market, By Product Type, 2017- 2028 (US$ Mn & KiloTons)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Soft Magnetic Materials
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
    • Permanent Magnetic Materials
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
    • Semi-Hard Magnetic Materials
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
  6. Global Magnetic Materials Market, By Application, 2017- 2028 (US$ Mn & KiloTons)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Automotive
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
    • Electronics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
    • Energy generation
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
  7. Global Magnetic Materials Market, By Region, 2017- 2028 (US$ Mn & KiloTons)
    • Introduction
      • Market Share Analysis, By Region, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, For Region, 2021 - 2028
    • North America
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • U.S.
        • Canada
    • Latin America
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Europe
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Sub-Region, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Region
        • Middle East
        • Africa
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • AK Steel Holding Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Arnold Magnetic Technologies
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Electron Energy Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Hitachi Metals, Ltd.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Lynas Corporation Ltd.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Molycorp Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • OM Group
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Shin-Etsu Chemicals Co., Ltd.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Tengam Engineering Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • TDK Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 50 market data tables* and 45 figures* on "Magnetic Materials Market” - Global forecast to 2028.

FAQgrowicon

Frequently Asked Questions

The global magnetic materials market size is estimated to be valued at US$ 103,486.7 Million in 2021 and is expected to exhibit a CAGR of 8.9% between 2021 and 2028.
Increasing demand from automotive industry and growing investment in high-speed locomotive device are the factors fuelling growth of the market.
The Semi-Hard Magnetic Materials segment is the leading component segment in the market.
High investment required for R &D is expected to hinder growth of the market.
Major players operating in the market include, AK Steel Holding Corporation, Arnold Magnetic Technologies, Electron Energy Corporation, Hitachi Metals, Ltd., Lynas Corporation Ltd., Molycorp Inc., OM Group, Shin-Etsu Chemicals Co., Ltd., Tengam Engineering Inc., and TDK Corporation
Asia Pacific region is expected to hold dominant position in the market over the forecast period. The growth of the market in the region is driven by high demand from major markets, such as China, India, and Japan. The growing automotive industry in the region is also driving the market for magnetic materials.
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