Global Alnico Magnets Market Growth 2023-2029

Global Alnico Magnets Market Growth 2023-2029

Alnico belongs to the group of permanent (hard) magnets primarily composed of aluminum, nickel and cobalt. They are hard ferromagnetic substances which are widely used in temperature sensitive applications such as hall-effect and MR-based electronic and automotive sensors.They are also known as composite magnets which are usually manufactured from sintering or casting offering superior mechanical characteristics. Alnico magnets are made from the combination of aluminum, nickel and cobalt with small amounts of iron and other small elements that improve the property of the magnet.

LPI (LP Information)' newest research report, the “Alnico Magnets Industry Forecast” looks at past sales and reviews total world Alnico Magnets sales in 2022, providing a comprehensive analysis by region and market sector of projected Alnico Magnets sales for 2023 through 2029. With Alnico Magnets sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Alnico Magnets industry.

This Insight Report provides a comprehensive analysis of the global Alnico Magnets landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Alnico Magnets portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Alnico Magnets market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Alnico Magnets and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Alnico Magnets.

The global Alnico Magnets market size is projected to grow from US$ 889.1 million in 2022 to US$ 1564 million in 2029; it is expected to grow at a CAGR of 1564 from 2023 to 2029.

The global market for alnico has been witnessing significant growth owing to rapid expansion of the automotive industry. Alnico magnets are majorly used in several components of an automobile including exhaust systems and sensors among others. Asia Pacific accounted as the largest market for alnico magnets, which was majorly supported by China, followed by several regions in Rest of the World (RoW) such as Latin America and Middle East. After the global economic slowdown in 2008-09, the manufacturing industry in North America has been slowly gaining pace. Alnico magnets are being increasingly implemented in electric motors and various sound reproductive systems such as microphones and loudspeakers. However, over the years, the industry for alnico magnets in this region has been noticeably saturated due to increasing consumption of NdFeB magnets. These magnets have been increasingly superseded by rare earth magnets such as NdFeB as well as ferrite in different automotive and electronic equipments, resulting in low demand from retail and manufacturing companies. However, alnico magnets cannot be replaced completely by rare earth elements due to their wide temperature range and stability. Thus, besides the automotive industry, growing demand for electric motors and sound systemshas been strongly contributing towards the growth of the alnico market.Moreover, rapid growth of industrial activities in emerging regions such as Asia Pacific has resulted in growth of various application sectors such as healthcare, electronics and power generation among others, which in turn is expected to contribute towards the demand for alnico magnets in Asia Pacific over the forecast period.

This report presents a comprehensive overview, market shares, and growth opportunities of Alnico Magnets market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Cast Alnico
Sintered Alnico
Bar Alnico

Segmentation by application
Electronics
Automotive
Aerospace
Wind Energy
Medical Devices

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Arnold Magnetic Technologies
Adams Magnetic Products
Stanford Magnets
Master Magnetics
Eneflux-Armtek Magnetics
Hitachi Metals

Key Questions Addressed in this Report

What is the 10-year outlook for the global Alnico Magnets market?

What factors are driving Alnico Magnets market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Alnico Magnets market opportunities vary by end market size?

How does Alnico Magnets break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.