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The latest research study “
Ferrite Magnet Market Report: Global Industry Growth Trends, Share, Size, Opportunity and Forecast 2022-2027,” the global ferrite magnet market reached
US$ 6.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach
US$ 7.9 Billion by 2027, exhibiting a
CAGR of 3.7% during 2022-2027.
The report also includes competitor and regional analysis, and contemporary advancements in the global market.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Request for a sample copy of this report: https://www.imarcgroup.com/ferrite-magnet-powder-manufacturing-plant/requestsample
Ferrite magnets, also known as ceramic magnets, refer to a type of permanent magnets that are widely used worldwide. There are two forms of these magnets, namely, Barium and Strontium ferrite magnets. The usage of ferrite magnets has several advantages as they are hard and provide strong resistance to demagnetization. They can also tolerate exposure to high temperatures up to 250 degrees and have high resistance potential against greases, lubricants, weak acids, and solvents.
Besides this, the raw materials required in the production of ferrite magnets are relatively cheaper in comparison to other permanent magnets, including aluminum-nickel-cobalt (AlNiCo), samarium-cobalt (SmCO), and neodymium-iron-boron (NdFeB) magnets. Due to these advantages, ferrite magnets are gradually replacing their counterparts in a wide range of applications.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global ferrite magnet market, along with forecasts at the global and country level from 2022-2027. Our report has categorized the market based on application.
Breakup by Application:
- Electro-Acoustic Products
- Power Play Tools
- Electronics Industry
- Calculating Machines
- Car Line Industry
- Others
Regional Insights:
- China
- India
- Japan
- United States
- Others
On a geographical front, China is both the largest consumer and producer of ferrite magnets. The availability of low-cost labor and abundance of raw materials has made China a preferred destination among magnet manufacturers.
Click here to view detailed information with table of content: https://www.imarcgroup.com/ferrite-magnet-powder-manufacturing-plant
Competitive Landscape:
The competitive landscape of the market has also been analyzed, with some of the leading players being Hangzhou Permanent Magnet Group, Hitachi Metals L, Ningbo Yunsheng Co. Ltd., JPMF Guangdong Co. Ltd. and NingGang Permanent Magnet Materials Co. Ltd.
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