Alnico Market is a type of permanent (hard) magnet mainly made of aluminum, nickel and cobalt metals. These are tough ferromagnetic materials that are widely used in temperature-sensitive devices such as MR and Hall effect sensors used in electronic and automotive devices. Also called composite magnet, it is mainly made through casting or sintering and has higher mechanical properties.
Alnico magnets consist mostly of the metals aluminum, nickel, cobalt, with trace amounts of iron and other trace elements that enhance the properties of the magnet. Alnico is considered the second most powerful permanent magnet after rare earth magnets. Along with being used to make horseshoe magnets, it is also utilized in many household appliances.
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Due to these factors, the alnico market is rapidly expanding worldwide.
Due to the rapid growth of the automotive industry, Alnico is enjoying tremendous growth worldwide. Alnico magnets are mainly used in several automotive parts including sensors and exhaust systems. Alnico magnet sales were primarily driven by China in the Asia Pacific region, followed by numerous Rest of the World (RoW) regions including Latin America and the Middle East. After the global recession of 2008-2009, North America’s industrial sector is picking up speed.
Electric motors and various sound reproduction devices such as microphones and loudspeakers are increasingly using Alnico magnets. However, the industry has been noticeably saturated over the years due to the growing demand for alnico magnets in the region.
Low demand from retail and manufacturing companies is a result of these magnets being replaced by rare earth magnets such as NdFeB and ferrite in a variety of automobiles and electrical devices. However, due to their stability and wide temperature range, rare earth elements cannot fully replace Alnico magnets.
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Therefore, in addition to the automotive industry, increasing demand for electric motors and audio systems has greatly aided the expansion of the Alnico market. Moreover, owing to the rapid development of industrial activities in developing countries such as Asia Pacific, the expansion of numerous applications including medical, electronics and power generation is expected to support the demand in those regions for alnico magnets more than predicted. period.
One of the major factors fueling the need for alnico magnets over the forecast period is expected to be the growing demand from the expansion of the automotive industry. Some of the reasons influencing the demand for automobiles include increasing disposable income, improving infrastructure, and population growth. Another factor expected to support market expansion is the increasing use of Alnico magnets in temperature-sensitive applications as a result of industrialization and expanding electronics sector.
The replacement of alnico magnets by rare earth magnets such as NdFeB due to higher energy output and stronger magnetic fields is expected to limit market expansion. application extension
Some of the major manufacturers of alnico dominating the industry.
- Adams Magnetic Products Co.
- Arnold Magnetic Technologies
• Dexter Magnetic Technologies Inc.
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