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Magnets and Magnet Materials: Global Markets
NEW YORK, Oct. 10, 2017 /PRNewswire/ -- Chapter 1: Introduction
The global market for magnets and magnetic materials has been increasing at an average rate of 7.8%, due to the demands from the intermediate as well as end-user industries. To assess the market, magnets and permanent magnets have been divided into four major types: alnico, neodymium, Samarium-cobalt and ferrite/ceramic. Soft magnets have been divided into three types: electrical steel, soft ferrite and other alloys. Alnico magnets are alloys, with aluminum (Al), nickel (Ni) and cobalt (Co) present in large amounts.
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These magnets primarily find their applications in instruments and meters, generators and ignition systems.
Neodymium or neodymium-iron-boron magnets belong to the rare earth family of magnets (due to the presence of rare earth elements in these magnets such as neodymium and dysprosium). These magnets are considered the strongest magnets available in the world. Neodymium magnets primarily find their applications in electronic motors; generators; medical devices; sonic equipment, magnetic sensors, transducers, meters and instruments; consumer electronics (cell phones, disk drives, and home appliances); and others.
Samarium-cobalt magnets also belong to the rare earth family of magnets in which samarium and cobalt are the main elements. These magnets possess high magnetic properties, and the ability to operate under very high temperatures. These magnets primarily find their applications in industries such as automobile, marine, medical, and aerospace and defense.
Ferrite magnets are also known as ceramic magnets. These magnets consist of iron oxide in addition to either barium carbonate or strontium as raw materials. These magnets primarily find their applications in sonic equipment, motors, magnetic separators and couplings, and other industrial purposes.
The steel segment, which consists of electrical steel, cold-rolled lamination steel, and amorphous steel, has the largest market shares.
For any application at high frequency, soft ferrites are used since they are ceramic insulators with a minimal loss of eddy current. These materials are ferrimagnetic, with a cubic crystal structure and the general composition would be MO.Fe2O3, where M is a transition metal such as nickel, manganese or zinc.
MnZn ferrite is sold commercially as ferroxcube, and is applicable at frequencies up to 10 MHz, for example, in telephone signal transmitters and receivers and in switch mode power supplies or DC-DC converters. For these types of applications, high frequency is used to allow miniaturization.
Other alloys used as soft magnetic materials are amorphous alloys, nickel-iron alloys, silicon-iron alloys, iron-cobalt alloys, ferritic chromium-iron alloys and niobium-tin alloy.
The major drivers behind the growth of the global market of magnets and magnetic materials are: the growth in the global automotive industry, increasing reliance on electronic devices around the world, and increasing applications and demands for industrial purposes such as in renewable energy, healthcare, aerospace, defense and IT industries.
Study Goals and Objectives
The goal of this report is to provide a detailed, comprehensive, multi-client study of the worldwide market for magnets and their materials along with emerging technologies and potential business opportunities in the future. Objectives include a thorough coverage of the underlying economic issues driving the magnet business, as well as assessments of new and potential technologies, products and services developed by leading companies in this field. Another important objective is to provide realistic market data and forecasts for worldwide demand of magnet products and materials.
This report starts with an overview of the chemistry and physics of magnet and the processes used to produce magnet products, and then moves on to the specific applications of magnetic materials. It describes the market's growth, the developing technology trends, industry leaders, and applications for these magnet products in North America, Europe, Asia-Pacific, South America and the Rest of the World
Reasons for Doing This Study
The current demands of automotive, electronics, electrical, industrial, home appliances and medical devices around the world, especially in the Asia-Pacific, North America and Europe regions, is increasing the demands of both permanent magnets and soft magnets.
China is the world's largest producer of all types of magnets, particularly with a high control over rare earth magnets. Due to the high degree of dependence on China for raw materials for magnets, as well as the magnets themselves, global consumers must understand the dynamics of the global industry of magnets to make informed decisions about sourcing, supplier engagement and alternatives.
A comprehensive study on the global industry of magnets and magnetic materials is extremely important in understanding the crucial role that magnets play in enabling the technologies that are important for the future, such as hybrid vehicles, "green" energy and advanced consumer electronics.
Scope of Report
The scope of this report is broad and covers two types of magnets used globally: soft magnets and permanent magnets. They have been classified in terms of their magnetic properties and their uses.
There are four types of permanent magnets based on the magnetic materials used for production: alnico, neodymium, samarium-cobalt and ferrite. Each of these is further divided on the basis of production processes, which primarily are termed sintering and bonding. The major applications of permanent magnets are in electric motors; generators; medical devices; sonic equipment, magnetic sensors and transducers; and consumer electronics.
The market for each type of permanent magnet in these applications and the market for each type of permanent magnet by region is also covered in this report. Additional breakdowns on the basis of global consumption in each end-user industry, which includes automotive, industrial, medical and home appliances, are also covered. The revenue forecasts from 2017 to 2022 are explained for each type of permanent magnet by production process, application and region.
Soft magnetic materials are divided into three types: electrical steel, soft ferrite and others. Other alloys used as soft magnetic material are amorphous alloys, nickel-iron alloys, silicon-iron alloy, iron-cobalt alloy, ferritic chromium-iron alloys and niobium-tin alloy. The major applications for soft magnetic materials are in electric motors, transformers, generators, alternators and others, which include inductors, relays and switches, antenna and filters. The end-user industry for soft magnets are electronics and telecommunications, electrical and automotive. The revenue forecasts from 2017 to 2022 of each type of soft magnets are described for each type for application, end-user industry and both by region.
The report also consists of a discussion of the major players across each of the segments; it explains the major market drivers for the global market of magnets and magnetic materials, the current trends within the industry and major end-user industries.
The findings and conclusions of this report are based on information gathered from both primary and secondary research sources. The primary sources of information consist of industry association data, and interviews conducted with educational hardware and software companies and distributors.
Secondary sources were also consulted for the report, comprising of industry journals and publications, product literature, white papers and technical journals, and financial reports for industry suppliers.
The base year for analysis and projection is 2016, and market projections were developed from 2017 to 2022. These projections are based on a consensus among the primary contacts combined with an understanding of the key market drivers and their impact from a historical and an analytical perspective.
The analytical methodologies used to generate the market estimates are described in detail in the market analysis. All dollar projections presented in this report are in 2016 constant dollars.
A descriptive study has been done with a trend analysis for the global market for educational hardware and software in the academic sector with a quantitative and qualitative approach.
BCC Research collects data through various primary and secondary sources, including interviews with industry vendors, white papers, business journals, public financial proceedings and historical market data from the internet. The market data is assessed and validated considering interrelated market attributes and the impact of global economic variables.
The value of the market is then obtained through a combination of the bottom-up and top-down approaches using exclusive market modeling tools to generate BCC Research's market data and forecasts. Estimated values used are based on manufacturers' total revenues.
In this report, the geographic regions considered for market analysis are named below:
? From Greenland (Denmark) to Russia and from Norway to Greece.
? From Afghanistan to Japan and from Mongolia to New Zealand.
? From Guatemala to Chile.
? Entire Middle East countries and entire African Regions.
Chapter 2: Summary and Highlights
According to their magnetic properties, magnetic materials can be divided into two classes: soft and permanent. Soft materials are easily magnetized and demagnetized, and include electrical steel and soft ferrite, among other materials. These are widely used in transformers, generators, motors, relays, solenoids and other products. On the other hand, if the magnetic material is difficult to demagnetize, then it is referred to as a permanent (or hard) magnet.
The latter is the focus of this study, and includes hard ferrite, aluminum-nickel-cobalt, samarium-cobalt, and neodymium-iron-boron materials used in motors, audio devices, MRI, microwave apparatus and various instruments.
Magnets are an integral part of several industries, such as automotive, electrical and electronics, renewal energy and healthcare. Companies worldwide are focusing their R&D efforts on technological innovations to expand the applications of different types of magnets in several end-user industries to provide state-of-the-art as well as energy-efficient products. This report examines the global market of magnets and magnetic materials in terms of value ($ Millions) with a focus on the major subsegments and trends in the industry that will impact the market of permanent magnets and soft magnets in the next five years.
The global market for magnets and magnetic materials was valued at approximately $32.2 billion in 2016, and is estimated to grow at a year-over-year (YOY) growth rate of 7.8%, in terms of value, to reach almost $34.9 billion in 2017. Further, the market is estimated to increase at a five-year compound annual growth rate (CAGR) (2017 through 2022) of 8.2%, in terms of value, to reach over $51.7 billion in 2022.
The magnets industry has had sustained growth, from its inception in the 1940s until the last decade, when the global recession and other structural changes affected most of the consumer industries. This resulted in a slump in activity, eventually leading to a slow, and often fleeting, recovery. Nonetheless, a recovery is underway, and growth is likely to continue because of increased usage of magnetic circuit components in a variety of industrial equipment and devices.
Electromechanical devices constitute the large market for magnet materials. Large motors use ceramic magnets, soft magnetic materials, powdered iron, and, for certain military applications, samarium- cobalt (SmCo) is still the preferred magnet. For the voice coil motors (VCMs) in disc drives, the need for reduction in size and higher performance makes neodymium-iron-boron (NdFeB) magnet the preferred one.
Major players in the global market of magnets and magnetic materials in their respective regions are:
? Adams Magnetic Products Co.
? Arnold Magnetic Technologies.
? Dexter Magnetic Technologies.
? Electron Energy Corp.
? Integrated Magnetics Ltd.
? MMC Magnetics Corp.
? Stanford Magnets.
? Viona Magnetic.
? Advanced Technology and Materials Co. Ltd.
? Baotou Inst Magnetic New Materials Co. Ltd.
? Beijing Zhongke San Huan High-Tech Co.
? China Rare Earth Magnet Ltd.
? Clime Magnet Manufactory Co. Ltd.
? Daido Steel Co. Ltd.
? Feller Magtech.
? Fuzhou AO Magnet Electronic Co. Ltd.
? Hangzhou Best Magnet Co. Ltd.
? Hitachi Metals Ltd.
? HPMG (Hangzhou Permanent Magnet Group).
? Longze Magnet Electronic Co. Ltd.
? Ningbo Bestway Magnet Co. Ltd.
? Ningbo Co-Star Material High Tech Co. Ltd.
? Ningbo Jinke Magnetics Co. Ltd.
? Ningbo Ketian Magnet Co. Ltd.
? Ningbo Newland Magnetics Co. Ltd.
? Ningbo Ninggang Permanent Magnetic Materials Co. Ltd.
? Ningbo Sanhuan Magsound Co. Ltd.
? Ningbo Songke Magnetic Material Co. Ltd.
? Ningbo Vastsky Magnet Co. Ltd.
? Ningbo Xinfeng Magnet Industry Co. Ltd.
? Ningbo Yunsheng High-Tech Magnetics Co. Ltd.
? Ningbo Zhaobao Magnet Co. Ltd.
? Shenzhen Thinova Co. Ltd.
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