How To Use Magnetic Plastics Market To Desire

A magnetic plastic is a form of a magnet, made from non-metallic materials or alloys. It is a combination of metallic powder and a polymer, wherein the former is bonded into the polymer.

Vendors are developing advanced techniques to increase the performance of magnetic plastics.

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Advancements include improvement in the chemical properties of magnetic plastics. Vendors are trying new approaches to manufacture high-density plastic-bonded magnets as density is an important aspect of magnetic plastics. Refinement of compression-molded magnets is one such process that aids in achieving a density of more than 80%.

This process includes using a monomer with an initiator, where thin layers of coating are subsequently added to the monomer. This enables the monomer to hold more quantity of magnetic powder through consolidation and polymerization. The use of bimodal and trimodal distribution of magnetic powder and low melting monomer are the primary requisites in the manufacturing process to ensure high-density plastic-bonded magnets. Therefore, the advancements in plastic-bonded magnets are expected to fuel the growth of the global magnetic plastics market at a CAGR of 7.60% during the forecast period.

Market Competitive Analysis

The magnetic plastics market is fragmented, and the degree of fragmentation will remain the same throughout the forecast period. The market is competitive, and vendors are focusing on adopting sustainable methods to recycle magnetic plastics to obtain rare earth elements to maintain the production cycle of magnetic plastics. ALL Magnetics Inc., Arnold Magnetic Technologies, Bomatec AG, and Bunting Magnetics Co. are a few of the major market participants. Although the accelerating growth momentum will offer immense growth opportunities, growing scarcity of rare earth elements will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The report provides information on the production, sustainability, and prospects of several companies, including:

• ALL Magnetics Inc.
• Arnold Magnetic Technologies
• Bomatec AG
• Bunting Magnetics Co.
• INGENIERÍA MAGNETICA APLICADA SLU
• KOLEKTOR GROUP doo
• MS-Schramberg GmbH & Co. KG
• TDK Corp.
• thyssenkrupp AG
• VACUUMSCHMELZE GmbH & Co. KG

Magnetic Plastics Market: Key Drivers and Trends

Several industries, including electronics and electrical, food packaging, healthcare, automotive, aerospace, and defense sectors are significant users of magnetic plastics. For instance, in the electrical and electronics industry, magnetic plastics are significantly used to make magnetic switches and laptops/desktops. In the healthcare industry, magnetic plastics are used to make pacemakers, heart pumps, insulin pumps, and others. Moreover, magnetic plastics are preferred over conventional magnets, in the mentioned industries, because they are less dense and weigh less. They are also highly flexible and less brittle. The growth of the end-user industries, especially in APAC, because of the improving socio-economic conditions, is increasing the demand for magnetic plastics.

• Advances in plastic-bonded magnets is one of the critical magnetic plastics market trends.
• Vendors are focusing on improving the chemical properties of magnetic plastics to enhance their performance.
• Vendors are also trying new approaches to manufacture high-density plastic-bonded magnets.
• These factors will increase the application rate of plastic-bonded magnets across the end-user industries.
• Vendors are further stressing on recycling magnetic plastics to extract rare earth elements, which can be further used to manufacture plastic-bonded magnets.
• Such trends are expected to influence the growth of magnetic plastics market size during 2019-2023 at a CAGR of close to 8%.

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