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Market for Magnetic Materials In China to Cross $5.2 Billion in 2007, Says BCC Research
October 14, 2002 |Estimated reading time: 1 minute
Norwalk, Conn. -- According to a soon-to-be-released report from Business Communications Co. Inc., RGB-268 Magnetic Materials Market in China and its Position in the World Market, sales of Chinese magnetic materials are estimated a nearly $3 billion in 2002. Rising at an AAGR (average annual growth rate) of 12.1 percent, sales will reach $5.3 billion in 2007.
Soft magnetic materials will reach an estimated $1.9 billion in 2002. With an AAGR of 9.6 percent, sales in 2007 are expected to reach $3 billion.
Permanent magnetic materials sales are estimated at $1 billion in 2002, and are expected to rise to $2.2 billion in 2007 at an AAGR of 16.1 percent.
In 2002 the output of electrical steel and soft ferrite was 1.9 million tons and 78,000 tons respectively. By 2007, the output of the electrical steel will remain at 1.8 million tons due to the stoppage of production of hot rolled electrical steel by the end of 2002, and the output of soft ferrite will reach 157,000 tons. The market for electric steel is valued at $967 million in 2002 and is expected to reach $1 billion by 2007.
In 2002, the output of hard ferrite and NdFeB will be around 211,500 tons and 9,800 tons respectively, and the output of AlNiCo and SmCo reached 3,500 tons and 140 tons. By 2007, the output of hard ferrite and NdFeB will reach 343,000 tons and 26,700 tons, and the output of SmCo will reach 165 tons. The output of AlNiCo will remain 4,200 tons in 2007.
For more information on Business Communications Co. Inc. or this study, visit www.bccresearch.com.