Pune, India -- (SBWire) -- 01/21/2020 --A recent report published by Infinium Global Research on Magnetic Plastics Market (Type - Ferrite Bonded, and Ndfeb Bonded; Application - Packaging & Labelling, Electrical & Electronics, Healthcare Devices, and Other Applications): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025. According to the report, the global magnetic plastics market is projected to grow at a CAGR of 8.1% over the forecast period of 2019-2025.
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Magnetic Plastics Market: Insight
Magnetic plastics are made from organic polymers. Magnetic plastics stimulate the development of inexpensive and flexible devices for superconducting electronics and quantum computing. New technological advancements propel market growth. Companies operating in the global magnetic plastics market are adopting strategies such as mergers, acquisitions, and new product launches that maximize their market share.
The surge in the Use of Magnetic Plastics in Electronics in Developing Countries Stimulates the Growth of the Industry
The rising advancement in plastic bonded magnets through the refinement of compression-molded magnets drives the growth of the magnetic plastics market. The increasing demand for magnetic plastic by end-user consumers such as food packaging, healthcare contributes to the growth of the magnetic plastics market. The surge in the use of magnetic plastics in electronics in developing countries stimulates the growth of the magnetic plastics market. Advantages of metallic plastics over other metallic counterparts such as being less dense and lightweight propel the growth of the magnetic plastics market. The increasing production of personal computers, generators, and mobile phones promote the consumption of magnetic plastics boosting the market growth. On the other side, high costs of magnetic plastics hinder the growth of the magnetic plastics market. Moreover, research and development in the magnetic plastics market create numerous opportunities for the growth of the market.
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Asia-Pacific Region is Anticipated to have a Premium Share
Based on geography, the global magnetic plastics market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific region is anticipated to have a premium share in the global magnetic plastics market. The presence of major market players in developing countries such as China in the Asia-Pacific region contributes to the growth of the magnetic plastics market in Asia-Pacific. North America is expected to expand at a healthy CAGR over the forecast period. Europe is showing growth in the global magnetic plastics market. The rising industrialization and acceptance of magnetic plastics in Europe boost the growth of the magnetic plastics market in Europe.
Magnetic Plastics Market: Segmentation
The report on the global magnetic plastics market covers segments such as type and application. On the basis of type, the sub-markets include ferrite bonded, and NdFeB bonded. On the basis of application, the sub-markets include packaging & labeling, electrical & electronics, healthcare devices, and other applications.
Magnetic Plastics Market: Key Players
The report provides profiles of the companies in the market such as ALL Magnetics Inc., Arnold Magnetic Technologies Corp., Kolektor Magnet Technology GmbH, OM Group, ThyssenKrupp AG, Hitachi Metals, Ltd., Daido Steel Co., Ltd., TDK Corp., Bomatec AG, Bunting Magnetics Co., and other companies.
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About Infinium Global Research
The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The magnetic plastics market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the magnetic plastics market.
