Functional Magnetic Materials Market Report: Trends, Forecast and Competitive Analysis to 2030

Functional Magnetic Materials Trends and Forecast

The future of the global functional magnetic materials market looks promising with opportunities in the medical, automatic control, geological exploration, military, and aerospace markets. The global functional magnetic materials market is expected to reach an estimated $1.6 billion by 2030 with a CAGR of 4.7% from 2024 to 2030. The major drivers for this market are growing adoption of energy and power sectors, increased appetite for electric vehicles (EVs), growth in the renewable energy sector, as well as, surging interest in consumer electronics.

A more than 150-page report is developed to help in your business decisions.

Functional Magnetic Materials by Segment

The study includes a forecast for the global functional magnetic materials by type, application, and region.

Functional Magnetic Materials Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Magnetostrictive Material
• Magnetic Recording Material
• Magnetoresistive Material
• Magnetic Bubble Material
• Magneto-Optic Material
• Magnetic Film Material
• Others

Functional Magnetic Materials Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Medical
• Automatic Control
• Geological Exploration
• Military
• Aerospace

Functional Magnetic Materials Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Functional Magnetic Materials Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies functional magnetic materials companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the functional magnetic materials companies profiled in this report include-

• Biotain Crystal
• Adamns Magnetic Products
• Northrop Grumman Synoptics
• Oxide
• Deltronic Crystal Industries
• Dexter Magnetic Technologies
• MK Magnetics
• Grinm Advanced Materials
• Castech
• Suzhou A-One Special Alloy

Functional Magnetic Materials Market Insights

Lucintel forecasts that magnetostrictive material is expected to witness highest growth over the forecast period.

APAC is expected to witness highest growth over the forecast period due to China's massive energy sector and the region's continued expenditures in the electronics and automobile industries.

Features of the Global Functional Magnetic Materials Market

Market Size Estimates: Functional magnetic materials market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Functional magnetic materials market size by type, application, and region in terms of value ($B).

Regional Analysis: Functional magnetic materials market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the functional magnetic materials market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the functional magnetic materials market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the functional magnetic materials market size?

Answer: The global functional magnetic materials market is expected to reach an estimated $1.6 billion by 2030.

Q.2 What is the growth forecast for functional magnetic materials market?

Answer: The global functional magnetic materials market is expected to grow with a CAGR of 4.7% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the functional magnetic materials market?

Answer: The major drivers for this market are growing adoption of energy and power sectors, increased appetite for electric vehicles (EVs), growth in the renewable energy sector, as well as, surging interest in consumer electronics.

Q4. What are the major segments for functional magnetic materials market?

Answer: The future of the global functional magnetic materials market looks promising with opportunities in the medical, automatic control, geological exploration, military, and aerospace markets.

Q5. Who are the key functional magnetic materials market companies?

Answer: Some of the key functional magnetic materials companies are as follows.

• Biotain Crystal
• Adamns Magnetic Products
• Northrop Grumman Synoptics
• Oxide
• Deltronic Crystal Industries
• Dexter Magnetic Technologies
• MK Magnetics
• Grinm Advanced Materials
• Castech
• Suzhou A-one Special Alloy

Q6. Which functional magnetic materials market segment will be the largest in future?

Answer: Lucintel forecasts that magnetostrictive material is expected to witness highest growth over the forecast period.

Q7. In functional magnetic materials market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to China's massive energy sector and the region's continued expenditures in the electronics and automobile industries.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the functional magnetic materials market by type (magnetostrictive material, magnetic recording material, magnetoresistive material, magnetic bubble material, magneto-optic material, magnetic film material, others) , application (medical, automatic control, geological exploration, military, and aerospace), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?