Advanced Magnetic Materials Market by Type, End-use

Description

List of Tables

[188 Pages Report] The Advanced Magnetic Materials Market size was estimated at USD 23.22 billion in 2023 and expected to reach USD 25.17 billion in 2024, at a CAGR 8.79% to reach USD 41.91 billion by 2030.

Advanced magnetic materials are a class of highly engineered materials that possess superior magnetic properties compared to traditional magnetic substances. They are at the forefront of magnetic research and technology and include materials such as rare-earth magnets such as neodymium and samarium-cobalt, amorphous and nanocrystalline magnetic materials, magnetic shape memory alloys, and magnetic composite materials. The push for energy-efficient devices and renewable energy applications is driving demand for advanced magnetic materials. In addition, the consumption of electronic products, renewable energy technologies, and automobiles increases the demand for advanced magnetic materials. However, the extraction and processing of rare-earth materials pose significant environmental risks, leading to regulatory challenges. Furthermore, continuous research and development to improve the performance of magnetic materials contribute significantly to market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 23.22 billion
Estimated Year [2024]	USD 25.17 billion
Forecast Year [2030]	USD 41.91 billion
CAGR (%)	8.79%

Type: Growing preference of rare-earth Magnets in automotive due to its compact size and maximum magnetic strength

Alnico Magnets, composed primarily of alloys of Aluminum, Nickel, and Cobalt, have been popular since the 1940s. These magnets are known for their excellent temperature stability and resistance to demagnetization. They are commonly used in applications where a consistent magnetic field is required over a wide temperature range, such as in sensors, electric motors, and various electronic instruments. Ferrite magnets are known as ceramic magnets. Ferrite magnets are produced from iron oxide and barium or strontium carbonate. Ferrite magnets provide a good balance of strength and cost. They are widely used in automotive applications, household appliances, and as magnetic cores in electronic and electrical devices. Rare-earth magnets include Neodymium (NdFeB) and Samarium Cobalt (SmCo) magnets, both of which have powerful magnetic properties. These magnets are known for having the highest magnetic field strength and energy product. Due to their strengths, they are commonly used in high-performance motors, hard disk drives, and magnetic couplings.

End-use: Expansion of automotive sector driving the adoption of advanced magnetic materials

In the automotive sector, advanced magnetic materials are predominantly used for motors in electric vehicles (EVs), sensors, and actuators. The need for high performance and efficiency in powertrains, along with the shift towards electrification, has driven the demand for such materials that can operate effectively at high temperatures and varying conditions. Electronics manufacturers heavily utilize advanced magnetic materials in components such as inductors, transformers, hard disk drives, and magnetic recording devices. Compact size, low power consumption, and robustness to handle high-density data storage define the preference for these materials within this segment. Within the industrial segment, advanced magnetic materials find applications in generators, lifting magnets, magnetic separation, and couplings. Industrial applications prioritize durability, resistance to demagnetization, and the ability to function in harsh environments. Medical devices, especially MRI machines, depend on high-performance magnetic materials such as superconducting magnets. The medical sector requires materials that are highly reliable, precise, and safe for use in proximity to patients. Advanced magnetic materials play a crucial role in power generation, particularly in wind turbines and other renewable energy technologies. The industry's need for efficiency, longevity, and the capability to handle high power dictates the preference for advanced magnetic materials in generators and related technologies.

Regional Insights

The North American region is at the forefront of the development and application of advanced magnetic materials. Consumer needs in the American region are primarily driven by the tech industry, military applications, and sustainable energy initiatives. In this context, significant investment into R&D by both the government and private sectors is evident, with an emphasis on reducing dependency on rare earth elements. The EU's focus on environmental sustainability and reducing carbon emissions has led to a budding market for advanced magnetic materials. High demand is seen in the automotive, wind power, and consumer electronics sectors. The Middle East and Africa have great potential in the advanced magnetic materials market, albeit with varied regional characteristics. The Middle East, with its strong oil and gas industry, is gradually branching out into renewable energy, which could spur demand for advanced magnetics in the near future. Asia Pacific is a powerhouse in the advanced magnetic materials market, with China leading the way. China's vast manufacturing sector, aggressive government policies on electric vehicles (EVs), and electronics industry drive demand. The country is also home to the largest deposits of rare earth elements, which are pivotal in producing high-performance magnets. Companies across the APAC region are frontrunners in technological advances in this field, focusing on energy efficiency and high performance.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Advanced Magnetic Materials Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Advanced Magnetic Materials Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Advanced Magnetic Materials Market, highlighting leading vendors and their innovative profiles. These include Advanced Magnet Lab, Inc., AMES GROUP Sintering, Anhui Sinomag Technology Co. Ltd., Arnold Magnetic Technologies Corporation, Daido Steel Co., Ltd., Electron Energy Corporation, FJ Industries A/S, Fluxtrol Inc., Hitachi, Ltd., KN Powder Metallurgy, Kumar Magnet Industries, Lynas Rare Earths, Ltd., MATE CO., LTD, Neo Performance Materials Inc., Ningbo Yunsheng Co. Ltd., Shin-Etsu Chemical Co., Ltd., Sintex a/s, Steward Advanced Materials LLC, TDK Corporation, Tengam Engineering, Inc., Toshiba Materials Co., Ltd, TRU Group, Vacuumschmelze GmbH & Co. KG, and voestalpine High Performance Metals GmbH.

Market Segmentation & Coverage

This research report categorizes the Advanced Magnetic Materials Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Alnico Magnets
- Ferrite Magnets
- Rare-earth Magnets

End-use
- Automotive
- Electronics
- Industrial
- Medical
- Power Generation

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Advanced Magnetic Materials Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Advanced Magnetic Materials Market?

3. What are the technology trends and regulatory frameworks in the Advanced Magnetic Materials Market?

4. What is the market share of the leading vendors in the Advanced Magnetic Materials Market?

5. Which modes and strategic moves are suitable for entering the Advanced Magnetic Materials Market?

Product Code: MRR-EB173946A135

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising demand of soft magnetic material in automotive sector
  - 5.1.1.2. Growing manufacturing activities and rapid infrastructural developments
  - 5.1.1.3. Increasing demand for energy-efficient devices and renewable energy applications
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with the advanced magnetic raw material
- 5.1.3. Opportunities
  - 5.1.3.1. Continuous research and development to improve the performance of magnetic materials
  - 5.1.3.2. Government initiatives for increasing the power generation capacity
- 5.1.4. Challenges
  - 5.1.4.1. Regulatory challenges associated with the extraction and processing of rare-earth materials
5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing preference of rare-earth Magnets in automotive due to its compact size and maximum magnetic strength
- 5.2.2. End-use: Expansion of automotive sector driving the adoption of advanced magnetic materials
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Advanced Magnetic Materials Market, by Type

6.1. Introduction
6.2. Alnico Magnets
6.3. Ferrite Magnets
6.4. Rare-earth Magnets

7. Advanced Magnetic Materials Market, by End-use

7.1. Introduction
7.2. Automotive
7.3. Electronics
7.4. Industrial
7.5. Medical
7.6. Power Generation

8. Americas Advanced Magnetic Materials Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Advanced Magnetic Materials Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Advanced Magnetic Materials Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. AML announces groundbreaking US production plan for permanent magnets
- 11.3.2. Ara Partners Acquires Vacuumschmelze, Leading Global Advanced Magnetic Materials Producer
- 11.3.3. Neo Performance Materials Agrees to Acquire Leading European Magnet Manufacturer
11.4. Strategy Analysis & Recommendation

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio