The global Hard Magnetic Materials Market is forecast to reach USD 143.87 Billion by 2027, according to a new report by Reports and Data. The global Hard Magnetic Materials market demand is anticipated to augment on account of the increasing need for power generation and miniaturization devices like generators in the wind and hydro-powered turbines over the forecasted period. In addition, the industry is expected to be driven by the growing automotive industry, which uses magnets in various components such as pollution control, alternators, and gearbox. However, volatile prices of rare-earth metals, including samarium, dysprosium, and neodymium used in the production of Hard Magnetic Materials, are expected to act as a key market restraint. The rise in application range owing to the development of new technologies is anticipated to open new avenues for the global Hard Magnetic Materials sector over the forecasted period.

The growing trend of electrification and modernization to reduce the cost of production and improve efficiencies enhances the use of permanent magnets in a variety of end-use industries. The building technologies provide advanced solutions that ensure the highest levels of energy efficiency, safety, and sustainability. These not only offer industry-specific solutions for hospitals, life science companies, airports, hotels, utility companies, and but also provide solutions for commercial buildings of cities as well as international companies and their infrastructures. Permanent magnets are extensively used in the motors of lift doors and train doors. NdFeB magnets are also used to dewax oil pipelines in China.

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Hard Magnetic Materials Industry Overview

The global materials chemicals industry revenue growth can be majorly attributed to increasing demand for essential consumer goods including soaps, detergents, and beauty personal care products worldwide, rising preference for sustainable and eco-friendly raw materials, and growing use of advanced chemicals and raw materials in industries including agriculture, food beverage industries, buildings construction, automotive, packaging, and manufacturing industries. Other major factors driving the growth of this industry are rising pollution levels, increasing environmental awareness, increasing use of technologically advanced chemicals and materials, and rising demand for organic materials.

Top Companies Profiled in the Report:

Hitachi Metals, Ltd., Daido Steel Co., Ltd, Molycorp Magnequench, Shin-ETSU Chemical Co., Ltd., TDK Corporation, Lynas Corporation Ltd., Arnold Magnetic Technologies Corporation, Electron Energy Corporation, Tengam Engineering, Inc., and Adams Magnetic Products Co., Inc. among others. 

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Major Points Covered in the Global Hard Magnetic Materials Market Report:

Market Coverage: This section of the report provides significant details on key market aspects including the key market segments, product innovation scope, and macro-economic and micro-economic growth indicators. In addition, the report segments the global Hard Magnetic Materials market based on product type, technology landscape, and application range.

Executive Summary: Under this section, the global market growth rate, competitive landscape, drivers and constraints, trends, limitations, and the key market segments have been discussed.

Regional Analysis: In this section, the latest report highlights the extensive global presence of the Hard Magnetic Materials market. This section offers key insights into the latest trends in the regional markets including North America, Asia Pacific, Europe, Latin America, and Middle East Africa.

Competitive Landscape: This section of the report highlights the key players in the global Hard Magnetic Materials market. It further emphasizes the leading products and services offered by these companies.

Manufacturers’ portfolios: This section includes detailed information regarding the product portfolio of each local and global manufacturer, their strengths and weaknesses, product catalog, production value and capacity, and other vital information.

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Type  Outlook 

Hard/Permanent Magnet

Semi-Hard Magnet

Soft Magnet

Application Outlook 

Transformers

Motors

Inductors

Generators

 End-User Outlook 

Automotive

Electronics Telecommunications

Industrial

Power Generation

Others

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