Alnico magnets are made of the alloys of aluminum, nickel, and cobalt. They exhibit high magnetic strength, exceptional stability over a high temperature range, higher flux density, and high energy, which drives demand in high temperature applications such as automotive, aerospace and military sensors, MRI scanners, electric motors, and so on.
The Asia-Pacific alnico magnet market is witnessing high growth on an account of increasing applications, especially in automotive and consumer electronics. This market was valued at $87,124.95 thousand in 2013 and is expected to reach $7,56,246.03 million by 2019.
The report, ‘Asia-Pacific Alnico Magnets Market’, analyzes the market by application in seven major areas: consumer electronics, general industrial, automotive, medical technology, environment & energy, aerospace & defense, and others. All these applications experienced a positive growth till 2012 and this growth is expected to continue in upcoming years. Consumer electronics holds a majority of the share in the Asia-Pacific market. Automotive and aerospace & defense markets have been witnessing the maximum growth because of the growing trend of modernization and electrification to improve efficiency. The automotive market in the region was valued at $17,850 thousand in 2013 and is estimated to grow at a tremendous rate for the period under consideration.
This report covers market trends in key countries, namely, China, India, Japan, and South Korea. China is the dominant country for the production and consumption of alnico magnets in the region. India’s market is estimated to experience high growth and is projected to grow at a CAGR of 55.7% for the forecast period. The automobile market in Asia-Pacific, especially in China and India, is expected to become one of the largest automotive markets in the world. The automotive industry is one of the largest end-user industries for alnico magnets and the growth in the automobile sector leads to an increase in the demand for these magnets.
This report estimates the market size of the Asia-Pacific alnico magnet market both, in terms of volume and revenue. It focuses on a detailed study of the market based on its applications in different countries. Further, as a part of qualitative analysis, the research report provides a comprehensive review of important drivers, restraints, opportunities, and key issues in the market. The report also provides an extensive competitive landscape of companies operating in this market. It includes the company profiles of and competitive strategies adopted by various market players including Hitachi, Shin-Etsu Chemical Co., Ltd., Lynas Corporation, Ltd., Molycorp Chemicals and Oxides, Hangzhou Permanent Magnet Group, Ningbo Yunsheng High-tech Magnetics Co., Ltd., Daido Steel Co., Ltd., and JPMF Guangdong Co. Ltd.
Report Customization Options
Along with market data, you can also customize MMM offerings that are in keeping with your company’s specific needs. Customize your report on the Asia-Pacific market for alnico magnets to get an insight into all-inclusive industry standards and a deep-dive analysis of the following considerations:
- Market volume (application wise and country wise)
- Competitive landscape which gives a detailed comparison of the portfolio of each company mapped at regional and country level
- Analysis of primary raw materials (aluminum, nickel, cobalt) used to manufacture alnico magnets
- Top five market strategies adopted by major market players
- Detailed analysis and profiling of additional market players (up to 5)
- Detailed analysis of ongoing research & development activities of permanent magnets
- Scale analysis
- Comparison of different countries with the global market
- New technology trends
- New product developments
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Asia-Pacific Permanent Magnet
The Asia-Pacific permanent magnet market was valued at $9.75 billion in 2012 and is projected to reach $15.80 billion by 2018, growing at a CAGR of 8.8% between 2013 and 2018. This market is mainly driven by the growing demand for permanent magnets due to rising demand for miniaturization together with advancement in technology.
North America Permanent Magnet
North America’s permanent magnet market was valued at $850.0 million in 2012 and is expected to reach $1,500 million by 2018, growing at a CAGR of 8.4% from 2013 to 2018. The market is majorly driven by the budding demand for permanent magnets, which is primarily due to an increase in the demand for advanced materials in existing and emerging applications.
Europe Permanent Magnet
The European permanent magnet market was valued at $700.0 million in 2012 and is expected to reach $1,100.0 million by 2018, growing at a CAGR of 6.6% from 2013 to 2018. This market is experiencing significant growth mainly driven by an increase in the demand for advanced materials in existing and emerging applications.
Middle East and Africa Permanent Magnet
Middle East and Africa’s permanent magnet market was valued at $130.0 million in 2012 and is estimated to reach $220.0 million by 2018, growing at a CAGR of 8.0% from 2013 to 2018. This market is experiencing high growth mainly driven by the development initiatives of various countries such as Saudi Arabia, which will boost the permanent magnet consumption in the region.
Latin America Permanent Magnet
Latin America’s permanent magnet market was valued at $80.0 million in 2012 and is estimated to reach $180.0 million by 2018, growing at a CAGR of 12.5% from 2013 to 2018. This market is experiencing high growth mainly driven by the development initiatives of various countries, which will boost the permanent magnet consumption in the region.