Magnetic Materials Market to Reach $28.5 Billion by 2012, According to New Report by Global Industry Analysts, Inc.
Supported by growing Chinese consumption, consistent end-use demand, and technological advancements in the fields of specialty magnetics and rare earth metals, the market for magnetic materials is poised for robust growth. The global market for magnetic materials is forecast to reach $28.5 billion by 2012.
San Jose, California (PRWEB) November 13, 2008 -- Magnetic materials are ubiquitous in the present electronic-based economy. Nations around the world have shown consistent interest in the use of magnetic materials in a varied range of temperature and environmental conditions. Considerable interest from the US, Japan and European markets is a major supporting factor in the development of magnetic materials. A key trend in the industry is the migration of production facilities to low-cost Asian countries, particularly China. Major magnet producers have either transferred operations or formed joint manufacturing capabilities in the Asian region.
Magnetic materials market worldwide is expected to register sturdy growth patterns in the upcoming years. Evolution of new end-use applications and consistent demand from key end-use markets such as automotives, industrial/consumer electronics, data storage, military/aerospace, medical, power generation, and telecommunications led to the development of highly advanced magnetic materials and diverse applications areas. Innovative materials with improved functionalities and a multitude of applications are additionally expected to boost product demand.
Asia-Pacific represents the largest and fastest growing market for magnetic materials, and is projected to reach close to US$11 billion in 2011, as stated by Global Industry Analysts, Inc. In 2008, the region accounted for nearly 40% of global demand. United States, Japan, and Europe continue to be significant contributors (of technology and applications) to the world magnetics industry. In terms of product segments, soft magnetic materials is the largest market at an estimated US$13.7 billion in 2008. Permanent magnetic materials market is expected to reach US$9.1 billion by 2010. Within the permanent segment, NdFeB and hard ferrite are the most significant segments together garnering over 80% share.
Players in the worldwide magnetic materials market include Advanced Technology & Materials, Arnold Magnetic Technologies, Beijing Jingci Magnetism Technology Co, Beijing Zhong Ke San Huan Hi-Tech Co, BGRIMM Magnetic Materials & Technology Co, Hengdian Group DMEGC Magnetics Co, Electron Energy Corporation, Hitachi Metals Ltd, Hoosier Magnetics Inc, Jiashan Pengcheng Magnets Co, JFE Ferrite, Magnetics Inc, Master Magnetics Inc, Ningbo Permanent Magnetics Co, Ningbo Vastsky Magnetic & Plastic Technology Co, Ningbo Ketian Magnet Co, Neo Material Technologies, Shin-Etsu Chemical Co, TDK Corp, Thomas & Skinner Inc, ThyssenKrupp Electrical Steel, Tridus Magnetics and Assemblies, Vacuumschmelze GmbH & Co. KG, and Yunsheng Hi-Tech Magnetics Co.
The report titled "Magnetic Materials: A Global Strategic Business Report" published by Global Industry Analysts, Inc., explores industry dynamics, tracing the past, present and future of the magnetic materials market. The report delves into major trends and issues and other factors having a direct impact on the magnetic materials market. The report profiles leading players operating in the global and regional markets. Also included in the report are recent strategic corporate activity, technological breakthroughs, product developments/introductions, and research and development activities of major global and regional market participants.
For more details about this research report, please visit http://www.strategyr.com/Magnetic_Materials_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press@StrategyR.com
Web Site http://www.StrategyR.com/
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