A magnet is a material that produces a magnetic field. Plastic refers to a material that consists of a wide range of synthetic and semi-synthetic compounds, which are malleable and can easily be molded into solid objects. A magnetic plastic is a non-metallic magnet which is made from an organic polymer. Magnetic plastics are less dense and are used in the applications where weight is a major concern. They have superior cost-performance ratio and can be produced in multifarious shapes and sizes.
MARKET DYNAMICS
There is a huge demand for magnetic plastics in the consumer market because of its low price and size availability. Thus magnetic plastics find its application in the production of mobile phones, computers, and generators, and this factor drives the growth of magnetic plastics market. Some advantages, like reducing the overall weight, costs, and resistance to corrosion, are also responsible for driving the growth of the market. However, the high price of neodymium metal used in the production of neodymium-iron-boron based magnetic plastics restricts the fruitful development of the magnetic plastics market. Development of a new type of magnetic plastic made up of organic polymer with the absence of metallic components is anticipated to bode well the growth of the magnetic plastics market in the near future.
MARKET SCOPE
The "Global Magnetic Plastics Market Analysis to 2028" is a specialized and in-depth study of the chemical and material industry with a special focus on the global market trend analysis. The report aims to provide an overview of the magnetic plastics market with detailed market segmentation by material, application and geography. The global magnetic plastics market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading magnetic plastics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global magnetic plastics market is segmented on the basis of material, application and geography. On the basis of material the market classify into ferrous bonded and ndfeb boned. As per application the market is broken into electrical & electronics, packaging & labeling, healthcare devices and others.
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 market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The magnetic plastics 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 magnetic plastics 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 magnetic plastics market in these regions.
MARKET PLAYERS
The reports cover key developments in the magnetic plastics 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 magnetic plastics market are anticipated to lucrative growth opportunities in the future with the rising demand for magnetic plastics market in the global market. Below mentioned is the list of few companies engaged in the magnetic plastics market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the magnetic plastics 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.
- 3M Company
- ALL Magnetics Inc.
- Arnold Magnetic Technologies Corp.
- Daido Steel Co. Ltd.
- Ferrite Bonded Magnetic Plastics
- General Electric Company
- Hitachi Metals, Ltd.
- Kolektor Magnet Technology GmbH
- TDK Corporation
- Vacuumschmelze GmbH and Co. KG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.