Magnetic Materials Market Tremendous Growth and Forecast Shares - Exclusive Report by MarketsandMarkets™

The report "Magnetic Materials Market by Type (Semi-Hard Magnet, Soft Magnet, Hard/Permanent Magnet) & by Application (Automotive, Electronics, Industrial, Power Generation, and Others) - Global Forecasts to 2020", The market size of magnetic materials is projected to reach USD 96.00 Billion by 2020, at a CAGR of 9.6% between 2015 and 2020. The market is driven by the growing automotive industry in Asia-Pacific. The increasing demand for automobiles in emerging economies such as China, India, and Japan is fueling the growth of magnetic materials in the region. Another major factor contributing to the growth is modernization of infrastructure coupled with innovative technologies.

The magnetic materials market is segmented by types, namely, semi-hard magnet, soft magnet, and permanent/hard magnet. Semi-hard magnet range between soft and permanent/hard magnetic materials. Semi-hard is the most extensively used magnetic material owing to global demand for technological systems and devices used to develop innovative products. Some of the related products are antitheft articles, electronic systems, automotive devices, and smart electronic bank cards.

Currently, the global magnetic materials market is dominated by various market players, such as Hitachi Metals Ltd. (Japan), Daido Steel Co. Ltd. (Japan), Molycorp Magnequench (Canada), Shin-Etsu Chemical Co. Ltd. (Japan), TDK Corp. (Japan), and others.
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