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Magnetic alloys find a wide range of applications in the electrical industry. Thus, the growth of the electrical industry is expected to be a key driving factor for the magnetic alloy market. Magnetic alloys are also extensively used in the steel industry and thus, the growth of the latter is expected to drive the sales of magnetic alloys. Some iron or neodymium magnetic alloys possess low coercivity,

which in turn limits their applications to specific fields. The low cost of magnetic alloys is also expected to boost their sales in the market while their low coercivity is expected to hamper the market growth to some extent. Also, the demagnetization of magnetic alloys at higher temperatures is expected to limit the use of magnetic alloys for applications in the desired temperature range.

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