Magnetostriction is the property by which the length of ferromagnetic material is changed under the influence of an external magnetic field. The state of strain of a ferromagnetic sample depends on the direction and extent of magnetization. Magnetostriction is found in magnetic transition materials such as iron, cobalt, nickel, and in rare earth materials such as lanthanum and terbium. The magnetostriction property of magnetic materials is widely utilized in transformers, ultrasonic radiators, receivers, fillers, frequency stabilizers in electronic devices, and magnetostriction delay lines.
The magnetostriction material market is witnessing significant growth, owing to increase in applications of magnetostrictive in transducers, actuators & motors, and structural materials. Moreover, rise in demand for magnetostrictive materials among various end-user industries, such as defense & aerospace, automotive, and consumer electronics drives the market growth. In addition, supportive government initiatives & regulations to optimize the cost and quality of magnetostrictive materials, increase in R&D activities, and rise in investment by key players contribute towards the market growth. Furthermore, surge in demand for micropositioning actuators, biological cell micromanipulation, scanning microscopes, and chips in optical fiber alignment is expected to boost the market growth. However, the brittleness characteristics of magnetostrictive material and volatile prices of iron ore are some of the factors that are expected to hamper the market growth.
The report segments the magnetostrictive material market on the basis of type, application, and geography. Based on type, the market is divided into rare earth material and ferrite magnetostrictive material. Applications covered in the study include consumer goods, industrial manufacturing, wastewater, medical, and others (railroad suspension components and aerospace). Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
Key Players Profiled In The Report Include The Following:
- Advanced Cerametrics
- Bayer Material Science
- TDK Corporation
- TdVib, LLC
- Kenco Group
- Gansu Rare Earth Functional Materials
- Emerson Electric
- Metglas, Inc.
- LORD Corporation
- KYOCERA Corporation
- This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of the global magnetostrictive material market to identify the prevailing market opportunities.
- Major countries in each region are mapped according to individual market revenue.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- An in-depth analysis of current research & clinical developments within the market is provided with key dynamic factors.
- Key players and their key developments in the recent years are listed.
Magnetostrictive Material Market Key Segments:
- Rare Earth Material
- Ferrite Magnetostrictive Material
- Consumer Goods
- Industrial Manufacturing
- Others (Railroad Suspension Components and Aerospace)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA