Key vendors to leverage strategic pricing to gain market shares.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global magnetic materials market in their latest research report. This report also lists 17 other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for magnetic materials is characterized by the presence of a moderate number of vendors and many end-user industries and customers. The competition between the players is intense owing to the presence of both, regional and international players. The growing popularity of the magnetic applications in many industrial segments is attracting new players to enter the market. The top 10 vendors have a collective market share of around 55%.
According to Ajay Adikari, a lead analyst at Technavio for research on metals and minerals, “The presence of similar kind of products that are developed for the same target customers intensifies the competition in the market space. It is imperative for vendors in the market space to get involved in effective business strategies, such as product development, product differentiation, and strategic pricing to attract new customers and retain existing ones.”
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Top five vendors in the magnetic materials market space
Arnold Magnetic Technologies
Arnold Magnetic Technologies is a key manufacturer of magnets, magnetic assemblies, and precision thin metals. The company’s customer industries are in aerospace and defense, oil and gas, consumer and industrial, automotive, medical devices, energy storage, and advertising segments.
Key products: RECOMA samarium cobalt, neodymium iron boron, magnetic assemblies, precision thin metals, shaped field magnets, AlNiCo magnets, Arnon electrical steel, Wraptite encapsulation, BESThin energy storage, FlexMag sheet and strip, injection-molded magnets, and electromagnets.
Daido Steel
Daido Steel is mainly into the specialty steel business. It operates through specialty steel, high-performance materials or magnetic materials, automobile and industrial equipment parts, engineering, and trading and services segments. The specialty steel segment is engaged in dealing with specialty steel and secondary products and the functional and magnetic segment deals with stainless steel, magnetic material products, high-alloy products, and electronic materials.
Key products: HYB series, Fe-Si alloy, Fe-Ni alloy, Fe-Co alloy, ferrite stainless steel, and Fe-Si-Al.
Hitachi Metals
Hitachi Metals provides metal products and materials, electronics and information components, and functional components. Its product segments include high-grade metals, magnetic materials, high-grade functional components, and cable materials. The company offers products for automotive, electronics, and infrastructure industries.
Key products: NEOMAX magnets, comprising iron, boron, and rare-earth metals such as neodymium.
Lynas Corporation
Lynas Corporation is one of the largest rare-earth minerals producing company. It is involved in the extraction and processing of the rare-earth minerals. The company has operations in Mt. Weld, Western Australia and in Kuantan, Malaysia. The Lynas Advanced Materials Plant in Malaysia is into integrated manufacturing, separation, and processing of rare-earth metals. These materials are used in applications such as autocatalysts, wind turbines, energy efficiency, and digital technologies.
Key products: Praseodymium, neodymium, samarium, gadolinium, terbium, dysprosium, holmium, and thulium.
TDK Corporation
TDK Corporation is involved in the manufacturing of electronic materials, electronic components, modules, and systems. The company’s electronic components can be broadly categorized into materials technology, process technology, production technology, device and module technology, and evaluation plus simulation technologies.
Key products: Ferrite magnets (FB Series), neodymium magnets (NEOREC Series), and other magnet applied products.
A more detailed analysis is available in the Technavio report, Global Magnetic Materials Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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