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The global magnetic materials market is forecast to reach USD 181,888.61 Million by 2030, according to a new report by Reports and Data. The global Magnets and Magnetic Materials market demand is anticipated to augment on account of the increasing need for power generation and miniaturization devices like generators in the wind and hydro-powered turbines over the forecasted period. In addition, the industry is expected to be driven by the growing automotive industry, which uses magnets in various components such as pollution control, alternators, and gearbox.

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