Alnico Market: Global Industry Analysis and Forecast 2014 - 2020

Alnico Market: Global Industry Analysis and Forecast 2014 - 2020

Persistence Market Research

Alnico Market: Global Industry Analysis and Forecast 2014 - 2020

Persistence Market Research

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Alnico Market: Global Industry Analysis and Forecast 2014 - 2020 Persistence Market Research Released New Market Report on “Alnico Market: Global Industry Analysis and Forecast 2014 - 2020”.

Alnico belongs to the group of permanent (hard) magnets primarily composed of aluminum, nickel and cobalt. They are hard ferromagnetic substances which are widely used in temperature sensitive applications such as hall-effect and MR-based electronic and automotive sensors.They are also known as composite magnets which are usually manufactured from sintering or casting offering superior mechanical characteristics. Alnico magnets are made from the combination of aluminum, nickel and cobalt with small amounts of iron and other small elements that improve the property of the magnet. After rare earth magnets, Alnico is considered as the strongest permanent magnet. It is also used in various household appliances as well as for the production of horse shoe magnets.

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The global market for alnico has been witnessing significant growth owing to rapid expansion of the automotive industry. Alnico magnets are majorly used in several components of an automobile including exhaust systems and sensors among others. Asia Pacific accounted as the largest market for alnico magnets, which was majorly supported by China, followed by several regions in Rest of the World (RoW) such as Latin America and Middle East. After the global economic slowdown in 2008-09, the manufacturing industry in North America has been slowly gaining pace. Alnico magnets are being increasingly implemented in electric motors and various sound reproductive systems such as microphones and loudspeakers. However, over the years, the...