Analysis on Global Demand for Magnetic Materials

The recent global economic crisis resulted in a short-term slump in the global magnetic materials market during 2008-09.

The future, however, remains sanguine for magnetic materials with several countries showing signs of economic recovery. The magnetic materials market is forecast to witness a significant increase in demand, driven by the evolution of new end-use applications, and consistent demand from existing end-use markets, including industrial and consumer electronics, data storage, military and aerospace, medical, power generation, and telecommunications. New technological innovations, emerging niche markets, improved electrical, magnetic, and mechanical performance of soft and hard magnetic materials, and readily available improved materials represent the major factors influencing demand for magnetic materials.

The US represents the single largest market for magnetic materials, as stated by the new market research report on Magnetic Materials. Region-wise, however, Asia-Pacific is the largest and fastest growing region for magnetic materials globally. China leads the global NdFeB magnets market. NdFeB now accounts for a significant portion of the rare earth materials consumption in China, and mainly finds use in energy and communication, medical device, electronic information, and automotive sectors. In terms of production as well, Asia holds a strong position for magnetic materials, with Japan and China specializing in the production of high-end and medium-to-low end products, respectively. The recent years witnessed several leading magnet producers from Western countries relocating manufacturing operations to low cost Asian regions, mainly China. Segment-wise, Soft Magnetic Materials represents the largest segment. Within soft magnetic materials, electrical steel occupies the lion’s share of the market, while Soft Ferrite is expected to grow at a faster rate over the analysis period 2007-2015.

Major players profiled in the report include Advanced Technology & Materials Co. Ltd., Arnold Magnetic Technologies Corp., Beijing Jingci Magnetism Technology Co., Beijing Zhong Ke San Huan Hi-Tech Co. Ltd., BGRIMM Magnetic Materials & Technology Co. Ltd., Electron Energy Corp., Hitachi Metals Ltd., Hengdian Group DMEGC Magnetics Co. Ltd., Hoosier Magnetics Inc., Jiashan Pengcheng Magnets Co Ltd., JFE Ferrite Corp., Magnetics Inc., Master Magnetics Inc., Ningbo Ketian Magnet, Ningbo Permanent Magnetics Co Ltd., among others.

The report titled "Magnetic Materials: A Global Strategic Business Report" announced by Global Industry Analysts Inc. provides a comprehensive review of the global magnetic materials market, impact of recession on the global and regional markets, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for magnetic material market for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Key product segments analyzed include Soft Magnetic Materials (Soft Ferrite and Electrical Steel) and Permanent Magnetic Materials (Alnico Magnets, Hard Ferrite, Samarium Cobalt Magnets, and NdFeB Magnets). In addition, a seven-year (2000-2006) historic analysis is provided for additional perspective.

Source: http://www.strategyr.com/

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