Cobalt ferrites substituted with manganese are one of the most promising materials for applications involving torsion and stress. Magnetostriction properties of these manganese-substituted cobalt ferrites signposts can be effectively applied in various directions. As a gigantic material, they can be used as pressure, torsion, or force sensors as well as magnetic cores. When taken in the form of nano particles, these materials can be widely used as gas sensors and catalysts in medicine, and as shrill layers in micro and nanoelectronics. Ferrite magnetostrictive materials are widely utilized in magnetoelastic transducers for detecting mechanical stresses and magnetic fields.
There are various examples in the prose of magnetostrictive ferrites applications in torque, magnetic field, hydrostatic stress, and compressive stress sensors. Magneto-electric composites associate piezoelectric and magnetostrictive phases for the formation of materials, which can convert both mechanical and magnetic energies into electricity. These characteristic features of magneto electric composites make them applicable in power sources for wireless sensor nodes as well as magnetic field sensors since they allow to generate electricity from ambient pulsations and abandoned magnetic fields.
The global ferrite magnetostrictive material market has witnessed tremendous growth opportunities in the past few years. Ferrite magnetostrictive materials possess high stability, high reliability, high accuracy, and long working life, and are feasible to the end users such as wastewater treatment companies, pharmaceutical manufacturers, as well as consumer goods manufacturers. These factors are anticipated to boost the overall growth of the global ferrite magnetostrictive material market during the forecast period.
Moreover, increase in per capita disposable incomes especially in developing economies coupled with increase in standards of living are expected to boost the demand for efficient healthcare facilities which in turn is expected to bring impetus in the demand for ferrite magnetostrictive materials over the foreseeable years. In addition, increase in the growth of the global economy along with investments by governments for effective wastewater treatment services across the globe are some other key factors that drive the growth of the global ferrite magnetostrictive materials market. However, factors such as volatility in raw material prices along with introduction of cheaper substitutes hamper the market growth. Although investments in R&D activities to develop more efficient materials is anticipated to bring potential opportunities in the global ferrite magnetistrictive materials market.
The global ferrite magnetostrictive material market can be segmented on the basis of product type, end user, and geography. On the basis of product type, market is divided into rare earth materials and others. On the basis of end-user, it is classified into consumer goods, industrial manufacturing, wastewater treatment, healthcare, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global market are focusing on key market strategies such as mergers, acquisitions, collaborations, and partnerships. They are also focusing on strengthening their market reach to maintain their goodwill in the ever competitive market.
Some of the Key Players in the Global Market Include:
- TRAK Ceramics
- Grirem Advanced Materials
- Gansu Tianxing Rare Earth Functional Materials
- Itaca Magnetic Materials
- Digi Key Electronics
- Dexter Magnetic Technologies, Inc.
- Adamns Magnetic Products Co.
- RS Components Ltd.
- Accuratus Corporation
- Advanced Technical Ceramics Company
- This report provides a quantitative analysis of the current trends, estimations, and dynamics from 2016 to 2023 to assist in identifying the prevailing market opportunities.
- Major countries in each region are mapped according to the individual market revenue.
- The region-wise and country-wise ferrite magnetostrictive material market conditions are comprehensively analyzed.
- This study evaluates the competitive landscape and the value chain analysis to understand the competitive environment across geographies.
- An in-depth analysis of each segment of the ferrite magnetostrictive material market is provided, to assist the prevailing market opportunities.
Ferrite Magnetostrictive Material Market Key Segments:
By Product type
- Rare Earth Materials
- Consumer Goods
- Industrial Manufacturing
- Wastewater Treatment
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA