Magnetic Plastics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
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:
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.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report