Report Code: A15947 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Magnets And Magnet Materials Market
Request Now !Magnetic material can be defined as an object which Produces magnetic field. The Magnetic response of such material largely depends on its spin of electron and dipole movement. A magnetic material can be classified in permanent or temporary, soft, semi-hard or hard, each of them with specific properties and uses. A magnet generates a continuous magnetic field which is nothing, but a form of current which flows inside the material. Magnets are now used in every sphere of industry. The Microphone we use to electric motors in cars, all are derivatives of magnet. It is now extensively used in medical industry, for instance MRI called as magnetic resonance imaging use powerful magnets in combination with radio waves to diagnose variety of conditions inside body. The Dynamic evolution in electronic industry is a manifestation that magnet can be a perfect substitution of conventional electronic components. For instance, Nano magnets are replacing the power-hungry transistors in microchips. It can even replace silicon in future, which can re-shape the semiconductor industry. The growth is primarily due to the development & modernization of infrastructure coupled with the growing automotive industry in Asia-Pacific. The factor restraining the growth of this market is fluctuating raw material costs.
Covid-19 Impact Analysis
Top Impacting Factors
The growing trend of modernization and electrification to improve efficiencies and reduce the cost of production enhances the use of permanent magnets in various industries. The building technologies offer advanced solutions that ensure the highest levels of sustainability, energy efficiency, and safety. These not only offer industry-specific solutions for data centers, hospitals, life science companies, airports, hotels, and utility companies, but also offer solutions for commercial buildings of international companies as well as cities and their infrastructures. Permanent magnets are increasingly used in the motors of train doors and lift doors. NdFeB magnets are also used to dewax oil pipelines in China.
Market trends
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Questions answered in the Magnets and Magnet Materials Market Report
Magnets and Magnet Materials Market Report Highlights
Aspects | Details |
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Key Market Players | Hitachi Metals Ltd., Vacuumschmelze GmbH, Kaiven Magnet Co., Arnold Magnetic Technologies, Dexter Magnetic Technologies, Shin-Etsu Chemical Co. Ltd, Molycorp Inc., Lynas Corporation Ltd., Dura Magnetics |
Other Key Market Players | Daido Steel Co. Ltd |
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