Alnico refers to a family of iron alloys, which comprised of nickel (Ni), aluminum (Al), Cobalt (Co) with some amounts of titanium and copper. Alnico alloys are made by sintering or casting process and are ferromagnetic with low coercivity. They are applied in electric motors and several sound systems, including loudspeakers and microphones. Alnico magnets is also used in temperature-sensitive applications such as hall effect as well as MR-based automotive and electronic sensors.
MARKET SCOPE
The "Global Alnico magnets Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Alnico magnets market with detailed market segmentation by function, layer, end use, and geography. The report provides key statistics on the market status of the leading Alnico magnets market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global alnico magnets market is segmented into cast alnico, sintered alnico, and others
- Based on application, the global alnico magnets market is segmented into electronics, automotive, aerospace, wind energy, and others.
MARKET DYNAMICS
Drivers:
- Rising population, coupled with technological advancements in the automotive sector.
- Increasing environmental concerns and exhausting conventional sources of energy has led to the rising utilization of renewable energy sources
Restraints:
- Rules and regulations by various government authorities and high cost of alnico magnets.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Alnico magnets market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Alnico magnets market in these regions.
IMPACT OF COVID-19 ON ALNICO MAGNETS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The chemical & materials industry is one of the major industries suffering serious disruptions, such as supply chain breaks, technology events cancellations, and office shutdowns, as a result of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products.
MARKET PLAYERS
The report covers key developments in the Alnico magnets market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Alnico magnets market are anticipated to lucrative growth opportunities in the future with the rising demand for Alnico magnets in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Alnico magnets market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Adams Magnetic Products Co.
- Arnold Magnetic Technologies
- Dexter Magnetic Technologies Inc.
- Eneflux-armtek Magnetics
- Hangzhou Permanent Magnet Group
- Hitachi Metals
- Master Magnetics
- Shin-Etsu
- Stanford Magnets
- Tengam Engineering Inc.
- Alcoa Corporation
- Aluminium Corporation of China Limited
- China Hongqiao Group Ltd
- China Power Investment Corp. (CPI)
- East Hope Group Company Limited
- Emirates Global Aluminum PJSC
- Norsk Hydro ASA
- Rio Tinto Alcan Inc.
- United Company RUSAL Plc.
- Xinfa Group