Global Alnico Magnets Market 2018-2022
About Alnico Magnets
Alnico magnets are primarily composed of aluminum, nickel, and cobalt. In certain cases, they also include titanium and copper. Alnico magnets are ferromagnetic and exhibit high coercivity. They consist of 12% of aluminum, 26% of nickel, 24% of cobalt, 6% of copper, 1% of titanium, and the rest is iron.
Technavio’s analysts forecast the global alnico magnets market to grow at a CAGR of 9.59% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global alnico magnets market in the healthcare sector for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of alnico magnets.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Alnico Magnets Market 2018-2022
Technavio recognizes the following companies as the key players in the global business intelligence market in the healthcare sector: Arnold Magnetic Technologies, Adams Magnetic Products, Stanford Magnets, Master Magnetics, Eneflux-Armtek Magnetics, and Hitachi Metals.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing demand from aerospace industry. The aerospace industry uses alnico magnets in large volumes. Alnico magnets are used in electrical power generation, slat actuators, throttle levers, engine-driven generators, fuel pumps and fuel flow regulation, and rudder actuators. Alnico magnets offer high remanence and thermal stability, which make them effective magnetic materials for use in the aerospace industry.”
According to the report, one of the major drivers for this market is Growing demand from electronics industry. 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.
Further, the report states that one of the major factors hindering the growth of this market is volatility in prices of raw materials. In the recent years, uncertain costs in the commodities market have put financial pressure on the producers. After the global economic crisis, costs of metals have been fluctuating, which is affecting the cost of raw materials. The fluctuation is also hindering the global alnico magnets market growth.
Arnold Magnetic Technologies, Adams Magnetic Products, Stanford Magnets, Master Magnetics, Eneflux-Armtek Magnetics, and Hitachi Metals.