The Asia Pacific Ferromagnetic Materials Market size was significantly robust in 2021 and is expected to register a rapid revenue CAGR over the forecast period. Market revenue growth is primarily driven by factors such as increasing demand for memory saving devices including hard drives and magnetic tapes, rising demand for Asia Pacific Ferromagnetic materials as alternatives in Electric Vehicles (EVs), and increasing consumption of electricity.
Asia Pacific Ferromagnetic materials are materials displaying atomic level magnetization, in the presence or absence of an external magnetic field. These develop magnetic characteristics in the direction of applied magnetic field and behave as temporary magnets, also known as electromagnets. Atoms of such materials operate as fundamental electromagnets and their ability to attain temporary magnetic properties can be attributed to specified arrangement of their atoms. In addition, Asia Pacific Ferromagnetic materials are used across domains including automobiles, medicine, and electronics. The medical industry uses Asia Pacific Ferromagnetic materials as strong magnets for Magnetic Resonance Imaging (MRI), to identify problems within the body. Moreover, body scanners and a variety of other medical applications involve connecting or implanting them into body. Furthermore, use of the product across the automobile industry is attributed to its increased usage in components ranging from microphones to electric motors.
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Competitive Landscape:
The report offers details about financial standing, global positional, license agreement, business expansion plans and product portfolios of each player operating in the market. The global Asia Pacific Ferromagnetic Materials market is extremely competitive and comprise various key players operating at global and regional levels. These players are adopting various strategies such as mergers and acquisitions, collaborations, joint ventures, partnerships, RD investments and new product launches to gain robust footing in the market and expand their product portfolio.
Key Companies in the market include: Adams Magnetic Products (U.S.), Armstrong Magnetics Inc. (U.S.), CMS Magnetics (U.S.), Dexter Magnetic Technologies (U.S.), Digi-Key Electronics (U.S.), Dura Magnetics (U.S.), Electrodyne Company (U.S.), Goudsmit Magnetic Supplies BV (Netherlands), International Magna Products (Canada), Magnetfabrik Bonn GmbH (Germany), RS Components, Ltd. (UK), Skyworks Solutions (India), Braden Shielding Systems (U.S.)
Report Overview:
The materials and chemicals industry revenue has rapidly expanded over the recent past. The global Asia Pacific Ferromagnetic Materials market is expected to register robust revenue growth during the forecast period, 2021-2028. Revenue growth of the global market is significantly driven by factors such as high demand for raw materials and chemicals across various sectors including food and beverages, paper pulp, chemicals and medical, biotechnology and pharmaceutical and rapid urbanization and industrial developments worldwide. In addition, increasing per capita income, rising investments by public and private organizations and rising demand for eco-friendly and sustainable products due to rising awareness about carbon emissions are expected to boost global market growth during the forecast period.
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Market Segmentation:
Product Type (Revenue, USD Billion; 2019-2030)
- Rare Earth Permanent Magnet Materials
- Metal Permanent Magnet Materials
- Ferrite Permanent Magnet Material
Application Outlook (Revenue, USD Billion; 2019-2030)
- Electronic Products
- Physical
- Aviation
- Other
Key Regional Markets Covered in the Report:
Asia Pacific (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Asia Pacific Ferromagnetic Materials market report:
- What is the expected market size of the global Asia Pacific Ferromagnetic Materials market during the forecast period?
- What factors are expected to hamper global Asia Pacific Ferromagnetic Materials market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Asia Pacific Ferromagnetic Materials market?
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