Magnetics Powder Core Market REPORT OVERVIEW
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The global magnetics powder core market size is estimated to be USD 561.2 million in 2022 and market is projected to touch USD 694.8 million by 2031, exhibiting a compound annual growth rate (CAGR) of 2.4% during the forecast period.
In electrical and magnetic devices such as transformers, electric motors, generators, and magnetic recording heads, the magnetic core is a section of magnetic material having a high magnetic permeability that is used to confine and guide magnetic fields. The inorganic or organic binder used to press the powder cores is what stores the energy.
COVID-19 Impact: State of Emergency in Countries to Hamper Market Growth
The COVID-19 virus has spread to about 100 nations. The World Health Organization proclaimed it to be a public health emergency. The coronavirus disease COVID-19 is already having an influence on the world and will have a major impact on the market for magnetic powder core. Over 40 countries declared states of emergency as a result of COVID-19, which also resulted in flight cancellations, travel bans, quarantines, restaurant closures, regional indoor events, stock market volatility, declining business confidence, panic, uncertainty about the future, and increased panic. Depending on how the pandemic plays out, chemical and material firms might anticipate facing risks to their business models as well as huge chances for expansion and game-changing change.
Marketing for Magnetics Powder Core involves a number of different plans and procedures. Distributors and suppliers are also included. The SWOT and PESTEL Magnetics Powder Core analyses are used in the market research study to identify the stability, weaknesses, opportunities, risks, and potential threats.
"Hot Breath Technique Used in this Chemical to Enhance Market Sales"
On some surfaces, such as many plastics and textured ones, ordinary fingerprint powder should not be used since magnetic powder is far better at revealing latent prints. Regular powder would pack into the low areas in the texturing and make development of a decent latent impossible, while magnetics powder core frequently responds well to textured surfaces like vinyl imitation leather or mildly textured automotive dashboards or door panels. In addition, magnetic powder performs better than conventional powder when the "hot breath" technique, often known as "huffing," is used.
Magnetics Powder Core Market SEGMENTATION
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- By Type
Based on type; the market is divided into MPP, sendust, high flux, fe-si and others.
In terms of product, sendust is the largest segment.
- By Application
Based on application; the market is divided into solar power, automotive, household appliances, ups, wind power and others.
In terms of application, automotive is the largest segment.
"Rise in the Automobile Industry to Augment Market Growth"
The rise of the automobile industry is the main driver projected to propel the market for magnetic powder cores worldwide. When exposed to an external magnetic field or when they become magnetised naturally, magnetic powder cores are a component of magnetic materials that have magnetic properties. Additionally, the expansion of the worldwide magnetic powder cores market is anticipated to be fueled by the rise in product demand in the electrical industry. Additionally, the market expansion during this projected period would be positively impacted by the ongoing technological innovations.
"Capability of Giving Better Print than Other Powders to Propel Market Growth"
Magnetic powder is typically not advised for surfaces that are drawn to magnets themselves. However, magnetic powder can occasionally provide a crisper, cleaner print than conventional powder. By lightly tapping the item against another surface to shift the magnetic particles, extra powder can be taken off. Following a dusting with normal powder, magnetic powder and the "hot breath" method may also be quite effective on a car body. Process the car as usual with common powder, take pictures, and remove any valuable latent prints. Then, using hot breath and magnetic powder, reprocess the vehicle in crucial locations like those beneath the door windows or the roof above the doors.
"Price Fluctuation of The Chemical to Impede Market Expansion"
The main factor that could restrict market expansion is price fluctuation. Additionally, during the course of the forecast period, the global spread of the COVID-19 pandemic will have a substantial impact on the growth of the magnetic powder cores market. These factors are responsible for hindering growth of magnetics powder core market.
Magnetics Powder Core Market REGIONAL INSIGHTS
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"North America to Dominate the region due to Increased Investment"
Due to the rising demand for electric and lightweight vehicles in the region, North America is one of the top consumers of magnetics powder core market share. The market for magnetic powder is being fueled by North America's numerous rapidly emerging economies and expanding electrical and automotive sectors. The market for magnetic powder is also benefiting from increased investment in North America, typically in the automobile industry. It is one of the top regions for importing cars. During the forecast period, it is projected that robust government measures to grow the automotive industry and strong pressure on domestic automakers to raise productivity will boost the worldwide magnetics powder core market growth.
KEY INDUSTRY PLAYERS
"Tough Rivalry Among Market Players to Boost Market Growth"
Details about each rival are included in the magnetics powder core market competitive landscape. The company's financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are among the details that are included. The data points mentioned above only speak to the companies' market-related priorities.
List of Market Players Profiled
- CSC (Changsung Corp.) (China)
- POCO Magnetic (China)
- MAGNETICS (China)
- ZheJiang NBTM KeDa Magnetoelectricity (KDM) (China)
- Micrometals (U.S.)
- Dongbu Electronic Materials (South Korea)
- Samwha Electronics (South Korea)
- TDG (U.K.)
- DMEGC (China)
- Nanjing New Conda Magnetic Industrial (China)
The magnetics powder core market research report on magnetic powder core offers insights and analysis into the crucial elements that will rule during the projected period and their effects on market growth. The study offers important data on the market situation for producers of commodity chemicals and is a useful resource for businesses and anyone interested in the sector. The research starts out by giving a fundamental review of the sector, including its definition, uses, and manufacturing methods. The paper then goes into great detail about the top global industry participants. The research includes each firm's market share and company profile in this section.
Market Size Value In
US$ 561.2 Million in 2022
Market Size Value By
US$ 694.8 Million by 2031
CAGR of 2.4% from 2022 to 2031
Historical Data Available
Type and Application
Frequently Asked Questions
What value is the magnetics powder core market expected to touch by 2031?
The global magnetics powder core market expected to touch USD 694.8 million by 2031.
What CAGR is the magnetics powder core market expected to exhibit by 2031?
The magnetics powder core market is expected to exhibit a CAGR of 2.4% by 2031.
Which are the driving factors of the magnetics powder core market?
Rise in the automobile industry and capability of giving better print than other powders are the driving factors of the magnetics powder core market.
Which are the top companies operating in the magnetics powder core market?
MAGNETICS, CSC (Changsung Corp.), POCO Magnetic, Hitachi, Micrometals, TDG, Dongbu Electronic Materials, Zhejiang KEDA Magnetoelectricity (KDM), Samwha Electronics, DMEGC, Huzhou Careful Magnetism, Nanjing New Conda Magnetic Industrial are the top companies operating in the magnetics powder core market.