Magnetic Materials Market – by Product (Hard Magnetic Materials, Semi-Hard Magnetic Materials, and Soft Magnetic Materials), by Application (Automotive, Electronics, Power Generation, Industrial, and Others) – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2025

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Magnetic materials possess magnetic properties and have ability to produce the magnetization. They can be magnetized or naturally possess magnetic properties. According to ease of magnetization, magnetic materials are classified as hard, semi-hard, and soft magnets. Hard magnetic materials are suitable for permanent magnets while soft for temporary. Hard magnetic materials have wide range of applications from toys and refrigerator magnets to electromotors, loudspeakers, windshield wipers, locks, and microphones-and high-tech devices such as hard disk drives. Soft magnetic materials are used in high and low-frequency applications such as transformer cores, microwave applications, and recording heads. Magnetic materials ranging from hard and soft are extensively used as recording media. Rapid industrialization, specifically in emerging economies such as India and China, demand for alternative power sources, such as windmill and water turbine are driving growth of the magnetic material market.

According to U.S. Geological Survey report, in 2017, China led the world production of rare earth materials from 2007, accounted for more than 90 percent of global production and supply. The magnetic materials are used in the production and distribution of electricity and used as the chief component of many electronics and electrical devices.

In Medicine, they are used in body scanners and in a range of applications where they are attached to or implanted into the body. The home entertainment market depends on magnetic materials in applications such as CD players, PCs, televisions, games consoles, and loudspeakers. Large magnets are used in industry for moving heavy loads. Magnetic strips are used for labeling foods and medicines on shelving. In airports, docks and, construction sites, magnetic sweepers are used to picking up any scrap or waste that could potentially puncture tires or endanger traffic.

Market Dynamics  

  • A major driver for growth of the global magnetic materials market is the growing automobile industry. The shift from the conventional fuel vehicles towards electric vehicles is a major factor fueling market growth. According to International Energy, over 750 thousand sales were registered for electric cars in 2016. Automotive manufacturers are shifting towards the magnetic motors system. For instance, Tesla uses the magnetic motor in its Model 3 Long Range car, which uses rare earth element neodymium.
  • However, volatile raw material price is a major factor restraining growth of the magnetic material market. Rare earth metals such as neodymium, samarium, and dysprosium have variation in prices. Products dependent on rare earth elements include wind turbines, batteries for hybrid vehicles, lasers and optical fibers, polishing compounds for lenses, and many other military and clean-energy applications. Due to volatility in prices suppliers of these products began working with customers to develop alternate processes to avoid rare earth elements and producers set about redesigning products to reduce the use of these elements. For example, testing ways to substitute zirconium-based compounds for cerium oxide.

Market Outlook

  • According to magnetic materials analysis, Asia Pacific held the dominant position in the market in 2017. The Asia Pacific is projected to maintain its dominance throughout the forecast period, owing to the expansion of the automobile industry in the region. Automobile production in economies such as China, India, Japan, and South Korea is continuously increasing. According to European Automobile Manufacturers Association 2014 report, Asia Pacific accounted for the largest share of 60% in passenger car production in 2013, with a major share of China.
  • Among applications, the automotive segment is projected to gain major traction over the forecast period, owing to increasing demand from automobile industry for motors, sensors, actuators, and instrumentation.

  Key players in Global Magnetic Materials Market

  • Key players operating in the global magnetic materials market include Arnold Magnetic Technologies Corporation, Daido Steel Co. Ltd., Dexter Magnetic Technologies, Hitachi Metals Ltd., GKN Plc., Molycorp Inc., Shin-ETSU Chemical Co., Ltd., Electron Energy Corporation, Lynas Corporation Ltd., TDK Corporation, and Tengam Engineering Inc.
  • Players are focused on developing magnetic materials for innovative applications. For instance, new ferrite material was introduced by Dexter Magnetic Technologies in June 2018, to support applications in harsh environments, where high ambient temperatures and wide temperature fluctuations are expected.

Market Taxonomy

On the basis of products, global magnetic materials market is segmented into:

  • Hard Magnetic Materials
  • Semi-Hard Magnetic Materials
  • Soft Magnetic Materials

On the basis of application, global magnetic materials market is segmented into:

  • Automotive
  • Electronics`
  • Power Generation
  • Industrial
  • Others

On the basis of region global magnetic materials market is segmented into:

  • North America
    • U.S.
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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