North America Magnetic Materials Market was valued at USD 3.5 Billion in 2022 and is projected to reach USD 5.3 Billion by 2030, growing at a CAGR of 5.6% from 2024 to 2030.
The demand for magnetic materials in North America is growing rapidly due to the increasing application across various industries such as electronics, automotive, renewable energy, and telecommunications. These materials are integral to the functionality of devices and machinery that require magnetic fields to operate effectively, such as motors, transformers, and data storage units. The advancements in technology are spurring the need for high-performance magnetic materials, and North America is at the forefront of this demand.
Electronics manufacturers in North America are driving a large portion of this market, with materials such as ferrites, neodymium, and samarium-cobalt being used in a wide array of devices, including smartphones, computers, and gaming consoles. Neodymium magnets, in particular, are sought after for their strong magnetic properties, which make them essential in compact designs for high-performance electronics.
In the automotive industry, magnetic materials are crucial for the production of electric vehicle (EV) motors, sensors, and batteries. The rise of electric vehicles in North America has led to an increased need for high-grade magnetic materials that support the efficient functioning of these components. Manufacturers are prioritizing the development of magnets with higher energy densities and improved reliability to meet the stringent requirements of electric vehicles.
Another key area of demand is in renewable energy. Wind turbines, for example, rely heavily on magnetic materials for generating electricity. Permanent magnets are used in the construction of wind generators, making them an essential component of the energy transition in North America. As the region continues to invest in clean energy, the need for magnetic materials is expected to increase significantly.
Furthermore, advancements in telecommunications require more powerful magnetic materials for improved signal strength and data transmission. As 5G networks expand across North America, the reliance on high-performance magnets for infrastructure components like antennas and base stations grows.
The North America Magnetic Materials Market continues to evolve with growing industrial needs and technological advancements, positioning it as a critical sector in the region.
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Hitachi Metals
Ltd.
TDK
Ningbo Keningda Industry Co.
Ltd.
DMEGC
LINGYI iTECH (GUANGDONG) COMPANY
Ningbo Yunsheng
Anhui Antai Technology Co.
LTD
Shin-Etsu Chemical Co.
Ltd.
Zhenghai Group Co.
Ltd.
Innuovo
VAC
Arnold Magnetic
Galaxy Magnets
TDG HOLDING CO.
LTD
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the North America Magnetic Materials Market
Automotive
Computer
Communications
Consumer
Other Industries
Based on Types the Market is categorized into Below types that held the largest Magnetic Materials market share In 2023.
Soft Magnetic Material
Permanent Magnetic Material
North America (United States, North America and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the North America Magnetic Materials Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. North America Magnetic Materials Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. North America Magnetic Materials Market, By Type
6. North America Magnetic Materials Market, By Application
7. North America Magnetic Materials Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. North America Magnetic Materials Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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