Magnetic Materials market Size – sale would increase up to 46 billion by 2020

By   | April 13, 2015 |   Price: 4950  |   Category: Advanced Materials
  • Global industrial trends reveal that the sale of magnetic materials would rise up to $ 46 billion by 2020. This is about 8.9% of growth in value terms. Bright and best  future prospects of magnetic materials market   is likely to attract new entrants as well as small and big entrepreneurs to invest their capital in the magnetic materials business and accrue huge margin of profits and ROI. The magnetic materials market is predicted to grow at a great pace between 2015 and 2020. Though the market size of magnetic materials is enlarged in Region of Asia pacific , it is going to register the highest anticipated growth rate due to increase in demand of the magnetic materials in countries like Japan, China, Indonesia, Thailand ,Taiwan and China.

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    Permanent magnets are all set to capture the business and sale of magnetic materials by 2020. The reason being great demand for miniaturization and its growing use in automotives, railways, Information Technology, industrial and electrical sectors.

    Industrial, electronics and automotive sectors have captured the magnetic materials market and this has accounted to about approximately 70% of its share in global magnetic materials market sale in year 2014-2015. The growing demand for electricity accompanied by rapid industrial revolution and need for technological innovations to resolve the energy (generation) crises due to its growing demand and other critical applications is expected to perpetuate the growth of these sectors between 2016 and 2020. This would generate high employment opportunities in the Asia Pacific region which   has a large growing population with a pool of highly skilled as well as unskilled work force.

    Magnetic Materials Market

    Information Source: Grand View Research

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