Magnetic Plastics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Magnetic Plastics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : November, 2020 | Chemical & Materials | PPT format

Report Digest


Global Magnetic Plastics Market – Overview

Magnetic plastic is a type of non-metallic magnet produced from an organic polymer. An example of magnetic plastic is PANiCNQ. It is a combination of emeraldine-based polyaniline (PANi) and tetracynoquninodimethane (TCNQ). PANiCNQ was first produced in 2004 at University of Durham. It was the first magnetic plastic to operate at a room temperature. The demand for magnetic plastics is expected to be driven by the development in the consumer good industry.

Global Magnetic Plastics Market – Notable Developments

Some of the recent developments in the global magnetic plastics market are given below:

  • Recently, Arnold Magnetic Technologies, a leading manufacturer in the global magnetic plastics market, announced that the company has opened up a new research and development facility in the MGE Innovation Center complex, in Wisconsin. This is expansion is expected to help the company to provide more efficient and innovative solutions to their customers.
  • In September 2018, Bunting® Magnetics Co., announced that the company has launched a magnetic liquid trap that was specifically designed for the food processing sector.
  • In July 2018, Bunting® Magnetics Co. launched a new product – a magnetic pull test kit. The newly designed kit has a NIST digital scale.

Global Magnetic Plastics Market – Drivers and Restraints

Magnetic plastics offer a large number advantages as compared to their metallic counterparts. These plastics have lesser density and are quite useful in wider range of applications where weight is crucial factor. Moreover, magnetic plastics have an extensive cost-efficient performance ratio and can be manufactured in a wide range of shapes and sizes. Due to such obvious benefits, the demand for magnetic plastics is growing day by day and thus is one of the biggest driving factor for the growth of the market.

Another important driving factor for the development of the magnetic plastics market is its ever increasing end-used application industries. Some of the biggest application industries are medical, healthcare, electronics, and food & beverages. With the advancements and developments in these sectors, the demand for magnetic plastics is expected to reach to new heights during the given forecast period. Especially, the demand for magnetic plastics is more from the electronic industry for the production of inductive assemblies and magnetic switches. These are thus acting as a strong driving factors for the growth of the global magnetic plastics market.

Global Magnetic Plastics Market – Geographical Outlook

There are five key regions in terms of geographical segmentation of the global magnetic plastics market that allows better understanding of it working dynamics. These regions are North America, Latin America, Middle East and Africa, Europe, and Asia Pacific. Of these, the global magnetic plastics market is currently dominated by the Asia Pacific segment. The growth of the regional segment is primarily attributed to the extensive development of the end-use sectors. This development is driven by evolving social as well as economic factors, better opportunities for employment, and infrastructural development. Such factors are thus helping to create ample business opportunities for the players in the magnetic plastics market and driving the growth of the regional segment.

In addition to this, countries such as Australia and Philippines are among the top producers of rare earth metals and elements. These rare earth elements are essential for the production of magnetic plastics. Naturally, this puts the Asia Pacific region on the top of the regional segmentation of the global magnetic plastics market.

Other regional segments such as Latin America, Middle East and Africa, and North America are expected to witness a steady growth over course of the mentioned forecast period.

Market Segmentation     

Application

  • Electrical and electronics
  • Food packaging
  • Healthcare and medical
  • Others

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?