Key Findings of the Global Alnico Magnets Market| Technavio

LONDON–(BUSINESS WIRE)–#MetalsandMinerals–The latest market research report by Technavio
on the global
alnico magnets market predicts a CAGR of around 10% during the
period 2018-2022.

The report segments the global alnico magnets market based on
application such as electronics, automotive, aerospace, wind energy,
medical devices and others. The report also provides an analysis of the
market based on geographic regions such as the Americas, APAC, and EMEA.
It provides a detailed illustration of the major factors influencing the
market, including drivers, opportunities, trends, and industry-specific
challenges.

Here are some key findings of the global alnico magnets market,
according to Technavio chemicals
and materials researchers:

• Growing demand from electronics industry: a major market driver
• In 2017, the electronics segment dominated the market by occupying
  close to 26% share
• APAC dominated the global alnico magnets market with 54% share in 2017
• Arnold Magnetic Technologies Adams Magnetic Products Stanford Magnets
  Master Magnetics Eneflux-Armtek Magnetics Hitachi Metals are the
  participants in the market

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Growing demand from electronics industry: a major market driver

Growing demand from electronics industry is one of the major factors
driving the global alnico
magnets market. Alnico magnets are used in electronics such as
electric motors, electric guitar pickups, microphones, sensors,
loudspeakers, magnetron tubes, cow magnets, refrigerator,
air-conditioner, televisions, computer disk, cellphone, circuit boards,
video equipment, microwave ovens, metal separators, pumps, and fans.
They have stronger fields and corrosion-resistance. Due to these
properties, alnico magnets are preferred in the electronics industry.

According to a senior analyst at Technavio for metals
and minerals research, “A major demand from the electronics
industry is due to the emergence and adaptation of new devices and the
access to credit in developing countries. Innovations resulting in rapid
technological changes in electronic products are major drivers of market
growth.”

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Segmentation by application

The global alnico magnets market is mainly driven due to the use of
alnico magnets in diverse applications. Electronics is its major
application segment. This is mainly because of its specific properties
such as high coercivity and strong magnetic field. Innovation has led to
the use of complex devices, which demand alnico magnets.

APAC: largest alnico magnets market

Technavio researchers anticipate high growth for the global alnico
magnets market in APAC with China and India as the key
contributing markets. The demand for alnico magnets in China is driven
by the increase in demand from the automotive, aerospace, electronics,
wind energy, and medical devices segments. India, with its prosperous
domestic market, will provide potential opportunities for the growth of
the electronics industry. With increasing consumption, the use of alnico
magnets in the electronics industry will contribute toward the growth of
the global alnico magnets market.

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alnico magnets market report free of cost

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