San Jose, California (PRWEB) June 30, 2014
Follow us on LinkedIn. – Magnets and magnetic materials are critical elements in electrical engineering systems and form the building block of the present electronic-based economy. Comparable with semiconductors, magnetic materials flaunt ubiquitous use in a broad range of products such as memory storage media, telephones, computers, energy storage devices (batteries), microphones, electric motors, and telephones, among others. Broader economic variables which have been driving growth in the market, over the last decade, include economic growth/prosperity, increased consumption of goods and services, growth in conspicuous consumption of aspirational electronic goods, rapid industrialization, expansion in manufacturing activity and the ensuing ubiquitous use of magnetic technology in production processes and in product manufacturing. End-use sectors for magnets and magnetic materials range from industrial electronics, consumer electronics, automotive electronics, data storage, military & aerospace electronics, medical electronics, power generation, and telecommunications, among numerous others.
R&D investments in magnets and magnetic materials are exploding. The last decade witnessed heavy investments in the development and commercialization of organic, molecular, and polymeric magnetic materials as effective substitutes for ceramic and metal materials, which require energy intensive and expensive metallurgical processing. Nanoscale magnetic materials have also been gathering significant interest over the last decade. Strong venture capital investments supporting the development of next generation energy storage solutions are especially poised to benefit the market. As the world awaits a revolution in renewable energy use and storage, research in newer magnetic materials is expected to receive a major boost.
Growth in the market is expected to benefit from the engineering focus being shed on permanent magnet machines and drives. For instance, escalating energy prices, and growing need to reduce energy consumption of motors, generators, and power tools are resulting in increased use of permanent magnets. Expanding applications of permanent magnet based AC machines and technology developments in basic design topologies, coupled with innovation in permanent magnet drive controls are revolutionizing the use of magnets and magnetic materials in electric machine design, automotive propulsion systems, wind and renewable power generation equipment, high-performance motion control systems, elevators and cranes, HVAC equipment, white goods and power appliances. The field of electrical engineering is increasingly shifting towards permanent magnet synchronous motors (PMSM).
As stated by the new market research report on Magnets and Magnetic Materials, Asia-Pacific represents the largest market worldwide. Led by China, the region is also forecast to emerge as the fastest growing market with a CAGR of about 7.3% over the analysis period. China, with its abundant rare earth reserves and resources, has emerged as the world’s leading manufacturer and supplier of magnets and magnetic materials. The country’s dominance over the global supply of rare earth raw materials such as neodymium, praseodymium, samarium, and dysprosium gives it a competitive edge in the international market.
Major players covered in the report include Advanced Technology & Materials Co. Ltd., Beijing Jingci Magnetism Technology Co, Beijing Zhong Ke San Huan Hi-Tech Co, BGRIMM Magnetic Materials & Technology Co. Ltd., Hitachi Metals Ltd., Electron Energy Corp and TDK Corp., among others.
The research report titled “Magnets & Magnetic Materials: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major companies. The report provides market estimates and projections in dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. Product segments analyzed in the report include Soft Magnetic Materials (Soft Ferrite, Electrical Steel) and Permanent Magnets (Alnico Magnets, Hard Ferrite, Samarium Cobalt Magnets and NdFeB Magnets).
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Magnets_and_Magnetic_Materials_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/