Global industrial
trends reveal that the sale of magnetic
materials would rise up to $ 46
billion by 2020. This is about 8.9% of growth in value terms. Bright and best
future prospects of magnetic materials market is likely to
attract new entrants as well as small and big entrepreneurs to invest their
capital in the magnetic materials business and accrue huge margin of profits
and ROI. The magnetic materials market is predicted to grow at a great pace
between 2015 and 2020. Though the market size of magnetic materials is
enlarged in Region of Asia pacific , it is going to register the highest
anticipated growth rate due to increase in demand of the magnetic materials in
countries like Japan, China, Indonesia, Thailand ,Taiwan and China.
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Permanent magnets
are all set to capture the business and sale of magnetic materials by 2020. The
reason being great demand for miniaturization and its growing use in
automotives, railways, Information Technology, industrial and electrical
sectors.
Industrial,
electronics and automotive sectors have captured the magnetic materials market
and this has accounted to about approximately 70% of its share in global
magnetic materials market sale in year 2014-2015. The growing demand for
electricity accompanied by rapid industrial revolution and need for
technological innovations to resolve the energy (generation) crises due to its
growing demand and other critical applications is expected to perpetuate the
growth of these sectors between 2016 and 2020. This would generate high
employment opportunities in the Asia Pacific region which has a
large growing population with a pool of highly skilled as well as unskilled
work force.
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