Press Release: The market size for magnetic materials is expected to reach USD |

NEW YORK, UNITED STATES, Nov. 07, 2022 (GLOBE NEWSWIRE) — According to a research report published by Spherical Insights & Consulting, the Global Magnetic Materials Market size to grow $30.25 billion in 2021 to $58.97 billion by 2030at a compound annual growth rate (CAGR) of 7.7% during the forecast period. Demand for magnetic materials in automotive and electronics industries is expected to increase, fueling its expansion. Magnetic materials are used in magnetic separators, motors, transformer cores, electromagnets, generators, microphones and loudspeakers, among others.

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The soft segment is projected to account for the largest market size during the forecast period

The global magnetic materials market is categorized based on type Hard/permanent, semi-hard and soft. The soft segment makes up the largest market size during…