Magnetic material is the basis for an important class of functional materials, in electronic, computer, information and communication, medical, aerospace, automotive, wind power, environmental protection, energy conservation and other traditional and emerging areas play an extremely important role. Magnetic materials has become the promotion of high-tech development and progress of contemporary civilization, irreplaceable materials, more optimistic about the prospects for development.
Magnetic materials industry in China has become the world center. The end of 2008, China's hard ferrite production will reach 46 million tons, accounting for more than 55% of world output; soft ferrite production will reach 33 million tons, accounting for more than 60% of world output; NdFeB production will be 5.5 million tons, accounting for more than 80% of world production. Over the next few years, magnetic materials industry in China the world's center will be very strong.
Raw material advantages which the labor factor price advantage and complementary advantage of the localization magnetics company in China with Japan, Europe and the U.S. technology powers contend with the "three magic weapons."
At present, China is facing industry magnetics business cycle, downward, and the dual pressures of the global economic crisis caused by a sharp reduction in downstream demand, and corporate technological backwardness, low efficiency and capacity to expand substantially, intense market competition and other "three big mountains" test. Magnetics company in China next year, the situation is fairly severe, the industry will continue downward.
The future of magnetic materials in motor, LCD TV, wind power and hybrid power train applications such areas will likely become a driving force magnetics business performance main engine of growth.